Micron Technology, Inc. (NASDAQ:MU) Holdings Lowered by Northpointe Capital LLC

Northpointe Capital LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 10.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 118,927 shares of the semiconductor manufacturer’s stock after selling 14,276 shares during the period. Northpointe Capital LLC’s holdings in Micron Technology were worth $4,677,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Fox Run Management L.L.C. raised its stake in shares of Micron Technology by 283.6% in the third quarter. Fox Run Management L.L.C. now owns 28,000 shares of the semiconductor manufacturer’s stock worth $1,101,000 after purchasing an additional 20,700 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in shares of Micron Technology during the third quarter valued at approximately $202,000. APG Asset Management N.V. increased its position in Micron Technology by 6.3% in the third quarter. APG Asset Management N.V. now owns 925,645 shares of the semiconductor manufacturer’s stock worth $36,406,000 after buying an additional 55,200 shares during the last quarter. Oakbrook Investments LLC increased its position in Micron Technology by 3.7% in the third quarter. Oakbrook Investments LLC now owns 105,650 shares of the semiconductor manufacturer’s stock worth $4,155,000 after buying an additional 3,750 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its position in Micron Technology by 68.6% in the third quarter. Meeder Asset Management Inc. now owns 50,694 shares of the semiconductor manufacturer’s stock worth $1,994,000 after buying an additional 20,627 shares during the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.

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A number of equities analysts have recently commented on MU shares. Deutsche Bank AG reaffirmed a “buy” rating and issued a $42.00 price target (up from $37.00) on shares of Micron Technology in a report on Wednesday, September 20th. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a research note on Wednesday, September 27th. Morgan Stanley reissued an “overweight” rating and set a $36.00 price objective on shares of Micron Technology in a research note on Monday, August 14th. J P Morgan Chase & Co lifted their price target on Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Loop Capital reaffirmed a “buy” rating and set a $46.00 price target (up previously from $40.00) on shares of Micron Technology in a research note on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and an average target price of $46.96.

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up $1.28 on Friday, reaching $44.78. 33,840,700 shares of the company’s stock traded hands, compared to its average volume of 28,969,953. The firm has a market capitalization of $50,166.59, a P/E ratio of 9.80, a price-to-earnings-growth ratio of 0.59 and a beta of 1.78. Micron Technology, Inc. has a 52 week low of $16.90 and a 52 week high of $45.33. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business’s revenue for the quarter was up 90.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.01) earnings per share. research analysts anticipate that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

In related news, EVP Scott J. Deboer sold 30,000 shares of the business’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the transaction, the executive vice president now directly owns 122,667 shares in the company, valued at $5,152,014. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total transaction of $133,650.00. Following the transaction, the director now owns 117,299 shares in the company, valued at $5,225,670.45. The disclosure for this sale can be found here. Insiders have sold 333,415 shares of company stock valued at $12,602,325 over the last 90 days. 0.69% of the stock is currently owned by insiders.

Micron Technology Profile

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

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