Micron Technology, Inc. (MU) Holdings Trimmed by Nepsis Capital Management Inc.

Nepsis Capital Management Inc. cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 33.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,104 shares of the semiconductor manufacturer’s stock after selling 62,655 shares during the period. Micron Technology comprises approximately 2.6% of Nepsis Capital Management Inc.’s investment portfolio, making the stock its 20th biggest position. Nepsis Capital Management Inc.’s holdings in Micron Technology were worth $5,062,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MU. IHT Wealth Management LLC bought a new position in shares of Micron Technology in the 2nd quarter valued at $1,056,000. SevenBridge Financial Group LLC lifted its stake in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after acquiring an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. lifted its stake in shares of Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after acquiring an additional 1,252 shares during the last quarter. Jacobi Capital Management LLC lifted its stake in shares of Micron Technology by 368.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Sowell Financial Services LLC bought a new position in shares of Micron Technology in the 3rd quarter valued at $204,000. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Shares of Micron Technology, Inc. (NASDAQ MU) traded up $0.11 during trading on Wednesday, reaching $42.92. The company’s stock had a trading volume of 38,174,700 shares, compared to its average volume of 43,465,199. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. Micron Technology, Inc. has a 52-week low of $21.49 and a 52-week high of $49.89. The firm has a market cap of $51,180.00, a P/E ratio of 6.76, a P/E/G ratio of 0.44 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. The firm had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same period last year, the business posted $0.32 EPS. The business’s revenue was up 71.4% compared to the same quarter last year. analysts forecast that Micron Technology, Inc. will post 9.78 earnings per share for the current fiscal year.

A number of research analysts have recently commented on MU shares. Wells Fargo & Co reiterated a “buy” rating and issued a $54.00 price target (up from $45.00) on shares of Micron Technology in a research note on Wednesday, December 20th. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. BidaskClub upgraded Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target for the company in a research note on Wednesday, October 25th. Finally, Cowen set a $50.00 price target on Micron Technology and gave the company a “buy” rating in a research note on Tuesday, December 5th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $55.33.

In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $42.40, for a total value of $2,583,050.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP April S. Arnzen sold 27,878 shares of the firm’s stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $44.27, for a total value of $1,234,159.06. Following the completion of the sale, the senior vice president now owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 188,720 shares of company stock valued at $8,046,240. Company insiders own 0.53% of the company’s stock.

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About Micron Technology

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

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

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