Intact Investment Management Inc. Sells 3,400 Shares of Micron Technology, Inc. (MU)

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Intact Investment Management Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 32.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,200 shares of the semiconductor manufacturer’s stock after selling 3,400 shares during the period. Intact Investment Management Inc.’s holdings in Micron Technology were worth $326,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. increased its stake in shares of Micron Technology by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,768,868 shares of the semiconductor manufacturer’s stock valued at $92,229,000 after purchasing an additional 24,882 shares during the last quarter. Park National Corp OH increased its stake in shares of Micron Technology by 30.3% in the 2nd quarter. Park National Corp OH now owns 6,021 shares of the semiconductor manufacturer’s stock valued at $316,000 after purchasing an additional 1,400 shares during the last quarter. Gulf International Bank UK Ltd increased its stake in shares of Micron Technology by 1.8% in the 2nd quarter. Gulf International Bank UK Ltd now owns 370,206 shares of the semiconductor manufacturer’s stock valued at $19,413,000 after purchasing an additional 6,450 shares during the last quarter. Abner Herrman & Brock LLC bought a new position in shares of Micron Technology in the 2nd quarter valued at $1,863,000. Finally, XR Securities LLC bought a new position in shares of Micron Technology in the 2nd quarter valued at $733,000. Hedge funds and other institutional investors own 75.48% of the company’s stock.

Several brokerages have recently issued reports on MU. ValuEngine lowered Micron Technology from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 24th. BidaskClub downgraded Micron Technology from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 24th. Barclays cut their price objective on Micron Technology from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Susquehanna Bancshares downgraded Micron Technology from a “positive” rating to a “neutral” rating and cut their price objective for the company from $75.00 to $45.00 in a report on Tuesday, October 23rd. Finally, UBS Group downgraded Micron Technology from a “positive” rating to a “neutral” rating in a report on Tuesday, October 23rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $66.92.

Shares of MU opened at $36.01 on Wednesday. The stock has a market cap of $40.15 billion, a price-to-earnings ratio of 3.05, a P/E/G ratio of 0.54 and a beta of 1.54. Micron Technology, Inc. has a 12 month low of $33.82 and a 12 month high of $64.66. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.16 and a current ratio of 2.79.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The firm had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.25 billion. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. The business’s quarterly revenue was up 37.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.02 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 10.19 EPS for the current year.

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

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