Invictus RG Invests $313,000 in Micron Technology, Inc. (MU)

Invictus RG purchased a new position in Micron Technology, Inc. (NASDAQ:MU) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 7,955 shares of the semiconductor manufacturer’s stock, valued at approximately $313,000.

A number of other large investors have also recently bought and sold shares of MU. Schroder Investment Management Group raised its holdings in shares of Micron Technology by 16.3% during the second quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after buying an additional 232,083 shares during the last quarter. Swiss National Bank raised its holdings in Micron Technology by 1.3% during the third quarter. Swiss National Bank now owns 3,874,503 shares of the semiconductor manufacturer’s stock worth $152,384,000 after purchasing an additional 49,200 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in Micron Technology by 8.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock worth $1,342,000 after purchasing an additional 3,317 shares in the last quarter. LMR Partners LLP raised its holdings in Micron Technology by 6.9% during the third quarter. LMR Partners LLP now owns 27,653 shares of the semiconductor manufacturer’s stock worth $1,088,000 after purchasing an additional 1,776 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Micron Technology by 4.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,627,678 shares of the semiconductor manufacturer’s stock worth $108,322,000 after purchasing an additional 140,996 shares in the last quarter. Institutional investors and hedge funds own 80.82% of the company’s stock.

Shares of Micron Technology, Inc. (MU) traded down $0.69 during trading on Friday, reaching $41.12. 44,571,244 shares of the company’s stock traded hands, compared to its average volume of 42,529,264. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.39 and a quick ratio of 1.83. The company has a market capitalization of $48,345.54, a PE ratio of 6.48, a price-to-earnings-growth ratio of 0.43 and a beta of 1.75. Micron Technology, Inc. has a 1 year low of $21.49 and a 1 year high of $49.89.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company had revenue of $6.80 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same period in the prior year, the business earned $0.32 earnings per share. Micron Technology’s quarterly revenue was up 71.4% on a year-over-year basis. equities analysts expect that Micron Technology, Inc. will post 9.78 EPS for the current fiscal year.

Several research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Morgan Stanley lifted their price objective on shares of Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Robert W. Baird reiterated an “outperform” rating and set a $60.00 price objective (up from $52.00) on shares of Micron Technology in a research report on Tuesday, November 28th. Vetr upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price target on the stock in a report on Tuesday, November 21st. Finally, Rosenblatt Securities restated a “buy” rating and set a $85.00 price target (up from $75.00) on shares of Micron Technology in a report on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and an average price target of $54.38.

In related news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $39.86, for a total value of $119,580.00. Following the transaction, the director now directly owns 114,284 shares in the company, valued at $4,555,360.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott J. Deboer sold 30,000 shares of the stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the completion of the transaction, the executive vice president now owns 122,667 shares in the company, valued at $5,152,014. The disclosure for this sale can be found here. Insiders have sold 83,828 shares of company stock worth $3,573,259 over the last quarter. 0.53% of the stock is owned by company insiders.

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Micron Technology Profile

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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