Schwab Charles Investment Management Inc. Acquires 130,632 Shares of Micron Technology, Inc. (MU)

Schwab Charles Investment Management Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,419,643 shares of the semiconductor manufacturer’s stock after buying an additional 130,632 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Micron Technology were worth $98,828,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Norges Bank purchased a new position in Micron Technology during the fourth quarter worth approximately $217,749,000. Arrowstreet Capital Limited Partnership increased its position in Micron Technology by 2,047.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 6,798,500 shares of the semiconductor manufacturer’s stock worth $149,023,000 after buying an additional 6,481,879 shares during the period. Vanguard Group Inc. increased its position in Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares during the period. Appaloosa LP purchased a new position in Micron Technology during the fourth quarter worth approximately $71,240,000. Finally, Westpac Banking Corp increased its position in Micron Technology by 790.9% in the first quarter. Westpac Banking Corp now owns 3,656,771 shares of the semiconductor manufacturer’s stock worth $113,251,000 after buying an additional 3,246,321 shares during the period. 79.75% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Micron Technology, Inc. (NASDAQ MU) opened at 32.4709 on Tuesday. The firm’s 50-day moving average price is $29.67 and its 200 day moving average price is $25.76. Micron Technology, Inc. has a 52 week low of $11.50 and a 52 week high of $32.93. The company has a market cap of $35.92 billion, a P/E ratio of 50.5777 and a beta of 1.77.

WARNING: This piece was posted by sleekmoney and is the property of of sleekmoney. If you are reading this piece on another website, it was illegally copied and republished in violation of US & international copyright laws. The original version of this piece can be read at https://sleekmoney.com/schwab-charles-investment-management-inc-acquires-130632-shares-of-micron-technology-inc-mu/1943242.html.

MU has been the topic of a number of research reports. Citigroup Inc. raised their price objective on Micron Technology from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Monday, February 27th. Robert W. Baird raised their price objective on Micron Technology from $25.00 to $35.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Goldman Sachs Group, Inc. (The) upgraded Micron Technology from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $26.00 to $29.00 in a report on Wednesday, March 1st. Stifel Nicolaus raised their price objective on Micron Technology from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, March 2nd. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $32.50 price objective (down from $35.00) on shares of Micron Technology in a report on Thursday, March 2nd. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and a consensus target price of $33.46.

In other Micron Technology news, VP Steven L. Thorsen, Jr. sold 50,000 shares of the stock in a transaction on Wednesday, March 29th. The stock was sold at an average price of $28.46, for a total value of $1,423,000.00. Following the transaction, the vice president now directly owns 245,690 shares in the company, valued at approximately $6,992,337.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Scott J. Deboer sold 10,000 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the transaction, the vice president now owns 150,232 shares in the company, valued at $4,807,424. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,880 shares of company stock worth $2,892,034. 0.69% of the stock is owned by corporate insiders.

About Micron Technology

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).

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

This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/schwab-charles-investment-management-inc-acquires-130632-shares-of-micron-technology-inc-mu/1943242.html

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

 

Leave a Reply

Your email address will not be published. Required fields are marked *