Traders Buy Shares of Micron Technology (MU) on Weakness

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Traders bought shares of Micron Technology, Inc. (NASDAQ:MU) on weakness during trading on Wednesday. $198.71 million flowed into the stock on the tick-up and $157.96 million flowed out of the stock on the tick-down, for a money net flow of $40.75 million into the stock. Of all companies tracked, Micron Technology had the 8th highest net in-flow for the day. Micron Technology traded down ($0.42) for the day and closed at $38.83

Several research firms have recently commented on MU. ValuEngine lowered Micron Technology from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 20th. Robert W. Baird lowered Micron Technology from an “outperform” rating to an “underperform” rating and set a $32.00 price objective for the company. in a research note on Tuesday, November 20th. Zacks Investment Research lowered Micron Technology from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. UBS Group reduced their price objective on Micron Technology from $52.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, November 27th. Finally, Mizuho reduced their price objective on Micron Technology to $54.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $59.52.

The firm has a market cap of $44.00 billion, a P/E ratio of 3.35, a PEG ratio of 0.83 and a beta of 1.87. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.15 and a current ratio of 2.90.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 EPS for the quarter, beating the consensus estimate of $2.90 by $0.07. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. The business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $8.01 billion. During the same quarter in the prior year, the firm earned $2.45 EPS. Equities analysts anticipate that Micron Technology, Inc. will post 7.47 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc increased its position in shares of Micron Technology by 1.4% during the third quarter. Vanguard Group Inc now owns 87,876,412 shares of the semiconductor manufacturer’s stock worth $3,974,651,000 after acquiring an additional 1,176,989 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Micron Technology by 4,548.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,730,753 shares of the semiconductor manufacturer’s stock worth $905,000 after acquiring an additional 28,112,651 shares during the period. AQR Capital Management LLC increased its position in shares of Micron Technology by 75.5% during the third quarter. AQR Capital Management LLC now owns 28,530,556 shares of the semiconductor manufacturer’s stock worth $1,290,438,000 after acquiring an additional 12,269,445 shares during the period. Capital World Investors purchased a new position in shares of Micron Technology during the third quarter worth approximately $1,136,492,000. Finally, Geode Capital Management LLC increased its position in shares of Micron Technology by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 14,631,169 shares of the semiconductor manufacturer’s stock worth $463,429,000 after acquiring an additional 229,817 shares during the period. 75.25% of the stock is owned by hedge funds and other institutional investors.

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Micron Technology Company Profile (NASDAQ:MU)

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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