Greenleaf Trust lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 13.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 20,914 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,414 shares during the period. Greenleaf Trust’s holdings in Micron Technology were worth $946,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its holdings in shares of Micron Technology by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,543,491 shares of the semiconductor manufacturer’s stock worth $710,326,000 after purchasing an additional 40,694 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in Micron Technology by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,113,462 shares of the semiconductor manufacturer’s stock worth $268,150,000 after acquiring an additional 238,829 shares in the last quarter. Parnassus Investments CA grew its holdings in Micron Technology by 40.0% during the 2nd quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock worth $256,956,000 after acquiring an additional 1,400,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Micron Technology by 7.1% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,185,658 shares of the semiconductor manufacturer’s stock worth $219,496,000 after acquiring an additional 277,992 shares in the last quarter. Finally, Swiss National Bank grew its holdings in Micron Technology by 3.3% during the 2nd quarter. Swiss National Bank now owns 3,822,903 shares of the semiconductor manufacturer’s stock worth $200,473,000 after acquiring an additional 122,800 shares in the last quarter. Hedge funds and other institutional investors own 75.48% of the company’s stock.
MU has been the topic of several recent research reports. BidaskClub cut shares of Micron Technology from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $70.00 target price on shares of Micron Technology in a report on Tuesday, September 18th. Piper Jaffray Companies set a $48.00 target price on shares of Micron Technology and gave the stock a “hold” rating in a report on Saturday, October 20th. Zacks Investment Research cut shares of Micron Technology from a “hold” rating to a “sell” rating in a report on Wednesday, September 19th. Finally, Goldman Sachs Group cut shares of Micron Technology from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $68.00 to $50.00 in a report on Wednesday, September 12th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $66.92.
Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The company’s quarterly revenue was up 37.5% on a year-over-year basis. During the same period in the prior year, the firm posted $2.02 earnings per share. Analysts predict that Micron Technology, Inc. will post 10.19 earnings per share for the current year.
Micron Technology Profile
Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.
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