Usca Ria LLC Reduces Position in Micron Technology, Inc. (MU)

Usca Ria LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 22.3% during the third quarter, HoldingsChannel.com reports. The fund owned 14,750 shares of the semiconductor manufacturer’s stock after selling 4,230 shares during the quarter. Usca Ria LLC’s holdings in Micron Technology were worth $667,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MU. Senator Investment Group LP acquired a new position in shares of Micron Technology during the 2nd quarter valued at $140,277,000. Point72 Asset Management L.P. raised its holdings in Micron Technology by 632.0% during the second quarter. Point72 Asset Management L.P. now owns 2,027,604 shares of the semiconductor manufacturer’s stock worth $106,328,000 after buying an additional 1,750,604 shares during the last quarter. Natixis raised its holdings in Micron Technology by 345.7% during the second quarter. Natixis now owns 2,028,745 shares of the semiconductor manufacturer’s stock worth $106,388,000 after buying an additional 1,573,549 shares during the last quarter. Parnassus Investments CA raised its holdings in Micron Technology by 40.0% during 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 during the last quarter. Finally, Global Thematic Partners LLC raised its holdings in Micron Technology by 178.5% during the second quarter. Global Thematic Partners LLC now owns 1,273,854 shares of the semiconductor manufacturer’s stock worth $66,802,000 after buying an additional 816,374 shares during the last quarter. Institutional investors own 75.53% of the company’s stock.

Several research analysts have weighed in on the stock. ValuEngine upgraded shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. BidaskClub upgraded shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Friday, November 2nd. Piper Jaffray Companies set a $48.00 price objective on shares of Micron Technology and gave the stock a “hold” rating in a report on Saturday, October 20th. Barclays lowered their price objective on shares of Micron Technology from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Finally, BMO Capital Markets restated a “hold” rating and set a $45.00 price objective (down previously from $63.00) on shares of Micron Technology in a report on Monday, September 17th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $66.92.

MU opened at $40.93 on Thursday. The stock has a market cap of $45.14 billion, a P/E ratio of 3.46, a P/E/G ratio of 0.62 and a beta of 1.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.16. Micron Technology, Inc. has a fifty-two week low of $33.82 and a fifty-two week high of $64.66.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The company 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 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 business earned $2.02 earnings per share. Analysts predict that Micron Technology, Inc. will post 10.19 earnings per share for the current year.

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About Micron Technology

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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