APG Asset Management US Inc. Raises Stake in Micron Technology, Inc. (NASDAQ:MU)

APG Asset Management US Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 350,572 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,976 shares during the quarter. APG Asset Management US Inc.’s holdings in Micron Technology were worth $46,107,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in MU. DecisionPoint Financial LLC purchased a new stake in shares of Micron Technology during the first quarter valued at approximately $25,000. Pingora Partners LLC purchased a new stake in shares of Micron Technology during the fourth quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter valued at approximately $28,000. Frank Rimerman Advisors LLC bought a new position in shares of Micron Technology during the fourth quarter valued at approximately $29,000. Finally, Valued Wealth Advisors LLC raised its holdings in shares of Micron Technology by 230.7% during the first quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 173 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on MU shares. Needham & Company LLC decreased their target price on Micron Technology from $150.00 to $140.00 and set a “buy” rating for the company in a report on Monday, August 26th. Bank of America upped their target price on Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. JPMorgan Chase & Co. upped their target price on Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Piper Sandler upped their target price on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, KeyCorp decreased their target price on Micron Technology from $165.00 to $145.00 and set an “overweight” rating for the company in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $145.65.

Micron Technology Trading Up 1.9 %

Micron Technology stock opened at $95.77 on Thursday. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The stock has a market capitalization of $106.19 billion, a PE ratio of -67.44, a price-to-earnings-growth ratio of 0.20 and a beta of 1.17. The business’s fifty day moving average is $98.39 and its 200 day moving average is $114.77.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating the consensus estimate of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. During the same period last year, the firm posted ($1.57) earnings per share. Micron Technology’s revenue was up 81.5% compared to the same quarter last year. On average, sell-side analysts predict that Micron Technology, Inc. will post 0.61 EPS for the current year.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.