Panagora Asset Management Inc. Cuts Stake in Micron Technology, Inc. (MU)

Panagora Asset Management Inc. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.8% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 132,288 shares of the semiconductor manufacturer’s stock after selling 56,252 shares during the quarter. Panagora Asset Management Inc.’s holdings in Micron Technology were worth $5,983,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Senator Investment Group LP bought a new stake in Micron Technology during the 2nd quarter worth approximately $140,277,000. Point72 Asset Management L.P. lifted its holdings in Micron Technology by 632.0% in the 2nd quarter. Point72 Asset Management L.P. now owns 2,027,604 shares of the semiconductor manufacturer’s stock worth $106,328,000 after purchasing an additional 1,750,604 shares in the last quarter. Natixis lifted its holdings in Micron Technology by 345.7% in the 2nd quarter. Natixis now owns 2,028,745 shares of the semiconductor manufacturer’s stock worth $106,388,000 after purchasing an additional 1,573,549 shares in the last quarter. Parnassus Investments CA lifted its holdings in Micron Technology by 40.0% in the 2nd quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock worth $256,956,000 after purchasing an additional 1,400,000 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in Micron Technology by 15.8% in the 3rd quarter. Janus Henderson Group PLC now owns 9,500,254 shares of the semiconductor manufacturer’s stock worth $429,725,000 after purchasing an additional 1,294,408 shares in the last quarter. Institutional investors own 74.46% of the company’s stock.

Shares of MU opened at $36.88 on Thursday. 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, Inc. has a twelve month low of $33.82 and a twelve month high of $64.66. The firm has a market capitalization of $41.83 billion, a P/E ratio of 3.12, a PEG ratio of 0.59 and a beta of 1.63.



Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating the consensus estimate of $3.33 by $0.20. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. The company had revenue of $8.44 billion for the quarter, compared to analyst estimates of $8.25 billion. During the same period last year, the company posted $2.02 earnings per share. The firm’s revenue was up 37.5% compared to the same quarter last year. Equities research analysts expect that Micron Technology, Inc. will post 9.86 EPS for the current year.

Several analysts recently weighed in on MU shares. ValuEngine upgraded Micron Technology from a “strong sell” rating to a “sell” rating in a report on Saturday, December 1st. Zacks Investment Research downgraded Micron Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. Mizuho cut their price objective on Micron Technology to $54.00 and set a “buy” rating on the stock in a research report on Thursday, November 29th. Citigroup cut their price objective on Micron Technology from $50.00 to $40.00 and set a “neutral” rating on the stock in a research report on Thursday, November 29th. Finally, UBS Group cut their price objective on Micron Technology from $52.00 to $41.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $64.82.

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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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