Braun Stacey Associates Inc. Lowers Stake in Micron Technology, Inc. (NASDAQ:MU)

Braun Stacey Associates Inc. lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 596,570 shares of the semiconductor manufacturer’s stock after selling 68,495 shares during the quarter. Micron Technology comprises approximately 1.6% of Braun Stacey Associates Inc.’s portfolio, making the stock its 4th largest position. Braun Stacey Associates Inc. owned about 0.05% of Micron Technology worth $23,463,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Empire Life Investments Inc. acquired a new stake in Micron Technology in the 1st quarter valued at approximately $8,813,000. Neuberger Berman Group LLC increased its holdings in Micron Technology by 1.4% in the 1st quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock valued at $359,000 after purchasing an additional 170 shares during the last quarter. MARSHALL WACE ASIA Ltd acquired a new stake in Micron Technology in the 1st quarter valued at approximately $639,000. Marshall Wace North America L.P. acquired a new stake in Micron Technology in the 1st quarter valued at approximately $639,000. Finally, United Capital Financial Advisers LLC acquired a new position in shares of Micron Technology in the first quarter worth $213,000. 76.21% of the stock is currently owned by hedge funds and other institutional investors.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $32.64, for a total value of $97,920.00. Following the sale, the director now owns 117,284 shares of the company’s stock, valued at approximately $3,828,149.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the business’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the completion of the sale, the senior vice president now directly owns 289,940 shares in the company, valued at approximately $11,046,714. The disclosure for this sale can be found here. Insiders sold 333,415 shares of company stock valued at $12,602,325 over the last 90 days. 0.69% of the stock is owned by corporate insiders.

A number of equities analysts recently commented on MU shares. J P Morgan Chase & Co reiterated a “buy” rating on shares of Micron Technology in a research note on Tuesday, August 29th. Credit Suisse Group reiterated an “outperform” rating and set a $50.00 target price (up previously from $40.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Citigroup Inc. set a $45.00 price target on shares of Micron Technology and gave the company a “buy” rating in a research report on Tuesday, August 29th. KeyCorp reissued a “hold” rating on shares of Micron Technology in a research report on Friday, October 27th. Finally, Nomura upped their target price on shares of Micron Technology from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $46.96.

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Shares of Micron Technology, Inc. (NASDAQ MU) opened at $44.78 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. The stock has a market cap of $51,642.76, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.78. Micron Technology, Inc. has a one year low of $16.90 and a one year high of $45.33.

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

Micron Technology Profile

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

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