Kinneret Advisory LLC Acquires Shares of 5,168 Micron Technology, Inc. (MU)

Kinneret Advisory LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 5,168 shares of the semiconductor manufacturer’s stock, valued at approximately $164,000.

Several other hedge funds have also recently modified their holdings of MU. JNBA Financial Advisors purchased a new position in shares of Micron Technology during the fourth quarter worth about $28,000. Lavaca Capital LLC purchased a new position in shares of Micron Technology during the fourth quarter worth about $29,000. Athena Capital Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter worth about $29,000. Intercontinental Wealth Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter worth about $31,000. Finally, Baystate Wealth Management LLC grew its holdings in shares of Micron Technology by 525.0% during the fourth quarter. Baystate Wealth Management LLC now owns 1,000 shares of the semiconductor manufacturer’s stock worth $36,000 after buying an additional 840 shares during the last quarter. 75.25% of the stock is currently owned by institutional investors.

A number of equities research analysts recently commented on the stock. Bank of America restated a “buy” rating and issued a $55.00 price objective (down previously from $85.00) on shares of Micron Technology in a research report on Friday, December 7th. Mizuho reduced their price objective on shares of Micron Technology to $54.00 and set a “buy” rating for the company in a research report on Thursday, November 29th. Deutsche Bank reduced their price objective on shares of Micron Technology from $60.00 to $48.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. MKM Partners reduced their price objective on shares of Micron Technology from $50.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, December 19th. Finally, Macquarie restated a “buy” rating on shares of Micron Technology in a research report on Thursday, December 20th. 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 issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $59.52.



MU stock opened at $38.60 on Friday. The company has a market capitalization of $44.00 billion, a price-to-earnings ratio of 3.25, a PEG ratio of 0.83 and a beta of 1.87. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.90 and a quick ratio of 2.15. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $64.66.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.90 by $0.07. The firm had revenue of $7.91 billion during the quarter, compared to analysts’ expectations of $8.01 billion. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. During the same period in the previous year, the company earned $2.45 EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 7.47 EPS for the current year.

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About Micron Technology

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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