Micron Technology, Inc. (MU) Stake Lowered by Advisory Services Network LLC

Advisory Services Network LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 65.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 29,916 shares of the semiconductor manufacturer’s stock after selling 57,756 shares during the quarter. Advisory Services Network LLC’s holdings in Micron Technology were worth $950,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. 683 Capital Management LLC lifted its stake in shares of Micron Technology by 28.6% in the 4th quarter. 683 Capital Management LLC now owns 360,000 shares of the semiconductor manufacturer’s stock worth $11,423,000 after purchasing an additional 80,000 shares during the period. Oak Grove Capital LLC increased its holdings in Micron Technology by 9.3% in the 4th quarter. Oak Grove Capital LLC now owns 48,960 shares of the semiconductor manufacturer’s stock worth $1,554,000 after acquiring an additional 4,150 shares in the last quarter. River & Mercantile Asset Management LLP increased its holdings in Micron Technology by 384.3% in the 4th quarter. River & Mercantile Asset Management LLP now owns 224,114 shares of the semiconductor manufacturer’s stock worth $7,110,000 after acquiring an additional 177,840 shares in the last quarter. Macquarie Group Ltd. increased its holdings in Micron Technology by 16.1% in the 4th quarter. Macquarie Group Ltd. now owns 2,841,005 shares of the semiconductor manufacturer’s stock worth $90,146,000 after acquiring an additional 393,205 shares in the last quarter. Finally, Bray Capital Advisors increased its holdings in Micron Technology by 15.3% in the 4th quarter. Bray Capital Advisors now owns 18,805 shares of the semiconductor manufacturer’s stock worth $597,000 after acquiring an additional 2,500 shares in the last quarter. Hedge funds and other institutional investors own 77.20% of the company’s stock.

MU traded up $0.25 on Friday, hitting $43.40. The company had a trading volume of 16,193,579 shares, compared to its average volume of 26,551,938. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $64.66. The firm has a market capitalization of $48.03 billion, a PE ratio of 3.67, a price-to-earnings-growth ratio of 1.09 and a beta of 1.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.25 and a quick ratio of 1.65.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.04. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The business had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the previous year, the firm earned $2.82 earnings per share. The company’s revenue was down 20.6% on a year-over-year basis. As a group, sell-side analysts expect that Micron Technology, Inc. will post 6.27 EPS for the current year.

In other news, SVP Joel L. Poppen sold 20,210 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $41.45, for a total transaction of $837,704.50. Following the completion of the transaction, the senior vice president now directly owns 269,368 shares of the company’s stock, valued at approximately $11,165,303.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP April S. Arnzen sold 21,182 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total value of $834,358.98. Following the transaction, the senior vice president now directly owns 86,992 shares of the company’s stock, valued at $3,426,614.88. The disclosure for this sale can be found here. Insiders have sold 55,878 shares of company stock valued at $2,293,223 in the last ninety days. Corporate insiders own 0.20% of the company’s stock.

A number of equities research analysts have issued reports on MU shares. Nomura started coverage on shares of Micron Technology in a report on Tuesday, April 16th. They set a “neutral” rating and a $45.00 price objective for the company. Cowen lowered shares of Micron Technology from an “outperform” rating to a “market perform” rating and cut their target price for the company from $46.00 to $45.00 in a report on Monday, April 8th. Morgan Stanley lowered shares of Micron Technology from an “equal weight” rating to an “underweight” rating and set a $32.00 target price for the company. in a report on Thursday, April 4th. Royal Bank of Canada started coverage on shares of Micron Technology in a report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 target price for the company. Finally, Summit Redstone raised shares of Micron Technology to a “buy” rating in a report on Thursday, March 21st. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $55.85.

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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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