ING Groep NV Cuts Holdings in Micron Technology, Inc. (MU)

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ING Groep NV lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 70.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,177 shares of the semiconductor manufacturer’s stock after selling 109,907 shares during the quarter. ING Groep NV’s holdings in Micron Technology were worth $2,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in 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 buying an additional 40,694 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Micron Technology by 4.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 5,113,462 shares of the semiconductor manufacturer’s stock worth $268,150,000 after buying an additional 238,829 shares in the last quarter. Parnassus Investments CA boosted its stake in Micron Technology by 40.0% in the second quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock worth $256,956,000 after buying an additional 1,400,000 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Micron Technology by 7.1% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,185,658 shares of the semiconductor manufacturer’s stock worth $219,496,000 after buying an additional 277,992 shares in the last quarter. Finally, Swiss National Bank boosted its stake in Micron Technology by 3.3% in the second quarter. Swiss National Bank now owns 3,822,903 shares of the semiconductor manufacturer’s stock worth $200,473,000 after buying an additional 122,800 shares in the last quarter. 75.58% of the stock is owned by institutional investors and hedge funds.

Shares of Micron Technology stock opened at $39.91 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.79 and a debt-to-equity ratio of 0.11. The company has a market cap of $42.93 billion, a P/E ratio of 3.38, a price-to-earnings-growth ratio of 0.59 and a beta of 1.69. Micron Technology, Inc. has a 52 week low of $33.82 and a 52 week high of $64.66.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.20. The company had revenue of $8.44 billion during 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 firm’s revenue for the quarter was up 37.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.02 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 10.03 earnings per share for the current fiscal year.

Several brokerages have weighed in on MU. ValuEngine upgraded Micron Technology from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. BidaskClub upgraded Micron Technology from a “strong sell” rating to a “sell” rating in a research report on Friday, November 2nd. Piper Jaffray Companies set a $48.00 price objective on Micron Technology and gave the company a “hold” rating in a research report on Saturday, October 20th. BMO Capital Markets reiterated a “hold” rating and issued a $45.00 price objective (down previously from $63.00) on shares of Micron Technology in a research report on Monday, September 17th. Finally, Deutsche Bank lowered their price objective on Micron Technology from $80.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $66.92.

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Micron Technology Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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