ING Groep NV Invests $639,000 in Micron Technology, Inc. (MU)

ING Groep NV acquired a new position in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, Holdings Channel reports. The firm acquired 28,681 shares of the semiconductor manufacturer’s stock, valued at approximately $639,000.

Several other hedge funds have also made changes to their positions in MU. Quantitative Systematic Strategies LLC purchased a new position in shares of Micron Technology during the second quarter worth $178,000. Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Micron Technology by 0.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 82,578 shares of the semiconductor manufacturer’s stock worth $1,136,000 after buying an additional 598 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Micron Technology by 1.2% in the second quarter. Nordea Investment Management AB now owns 115,002 shares of the semiconductor manufacturer’s stock worth $1,582,000 after buying an additional 1,402 shares during the last quarter. Everence Capital Management Inc. increased its position in shares of Micron Technology by 111.7% in the second quarter. Everence Capital Management Inc. now owns 21,870 shares of the semiconductor manufacturer’s stock worth $301,000 after buying an additional 11,540 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI increased its position in shares of Micron Technology by 142.4% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 1,106,717 shares of the semiconductor manufacturer’s stock worth $15,228,000 after buying an additional 650,219 shares during the last quarter. 81.43% of the stock is currently owned by institutional investors and hedge funds.

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

Micron Technology, Inc. (NASDAQ:MU) opened at 23.12 on Wednesday. The stock’s market cap is $25.50 billion. The stock’s 50 day moving average price is $23.12 and its 200 day moving average price is $18.92. Micron Technology, Inc. has a one year low of $9.35 and a one year high of $25.31.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 21st. The semiconductor manufacturer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The company had revenue of $3.97 billion for the quarter. During the same period in the prior year, the company posted $0.24 EPS. The firm’s revenue was up 18.5% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post $2.47 earnings per share for the current fiscal year.

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Several equities analysts recently commented on MU shares. Instinet restated a “buy” rating and issued a $23.00 price target on shares of Micron Technology in a research note on Wednesday, December 7th. Standpoint Research upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Wednesday, December 7th. Citigroup Inc. started coverage on shares of Micron Technology in a research note on Wednesday, December 7th. They issued a “buy” rating and a $30.00 price target on the stock. Brean Capital upped their price target on shares of Micron Technology from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, December 5th. Finally, Deutsche Bank AG restated a “buy” rating and issued a $20.00 price target (down from $24.00) on shares of Micron Technology in a research note on Monday, November 28th. Six research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and an average price target of $22.95.

In other news, VP Steven L. Thorsen, Jr. sold 126,000 shares of the firm’s stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $24.64, for a total value of $3,104,640.00. Following the transaction, the vice president now owns 421,690 shares of the company’s stock, valued at $10,390,441.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Shirley sold 90,580 shares of the firm’s stock in a transaction dated Friday, January 6th. The stock was sold at an average price of $22.09, for a total value of $2,000,912.20. Following the completion of the transaction, the vice president now directly owns 403,872 shares in the company, valued at approximately $8,921,532.48. The disclosure for this sale can be found here. In the last three months, insiders sold 265,360 shares of company stock worth $6,227,492. 0.69% of the stock is owned by corporate insiders.

Micron Technology Company Profile

5 Day Chart for NASDAQ:MU

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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