Micron Technology, Inc. (NASDAQ:MU) Holdings Cut by Seminole Management Co. Inc.

Seminole Management Co. Inc. trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 40.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 851,300 shares of the semiconductor manufacturer’s stock after selling 587,874 shares during the period. Micron Technology makes up approximately 6.4% of Seminole Management Co. Inc.’s investment portfolio, making the stock its 6th largest position. Seminole Management Co. Inc. owned about 0.07% of Micron Technology worth $35,005,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MU. Veritable L.P. boosted its stake in shares of Micron Technology by 31.3% in the 2nd quarter. Veritable L.P. now owns 24,033 shares of the semiconductor manufacturer’s stock valued at $718,000 after purchasing an additional 5,733 shares in the last quarter. QS Investors LLC boosted its stake in shares of Micron Technology by 16.0% in the 2nd quarter. QS Investors LLC now owns 113,580 shares of the semiconductor manufacturer’s stock valued at $3,391,000 after purchasing an additional 15,638 shares in the last quarter. UBS Oconnor LLC acquired a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $1,493,000. Institute for Wealth Management LLC. acquired a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $313,000. Finally, Zurich Insurance Group Ltd FI boosted its stake in shares of Micron Technology by 13.0% in the 2nd quarter. Zurich Insurance Group Ltd FI now owns 157,582 shares of the semiconductor manufacturer’s stock valued at $4,705,000 after purchasing an additional 18,129 shares in the last quarter. Hedge funds and other institutional investors own 80.66% of the company’s stock.

In other news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of Micron Technology stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction on Friday, December 1st. The shares were sold at an average price of $41.38, for a total transaction of $124,140.00. Following the completion of the sale, the director now owns 116,699 shares of the company’s stock, valued at approximately $4,829,004.62. The disclosure for this sale can be found here. Insiders sold a total of 173,470 shares of company stock valued at $7,420,480 in the last quarter. 0.53% of the stock is currently owned by company insiders.

Micron Technology, Inc. (MU) opened at $42.19 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33. Micron Technology, Inc. has a fifty-two week low of $22.64 and a fifty-two week high of $49.89. The stock has a market cap of $48,780.00, a P/E ratio of 6.64, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm had revenue of $6.80 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same quarter last year, the business earned $0.32 EPS. The company’s revenue was up 71.4% compared to the same quarter last year. sell-side analysts forecast that Micron Technology, Inc. will post 10.12 earnings per share for the current year.

MU has been the topic of a number of research analyst reports. Robert W. Baird restated an “outperform” rating and issued a $60.00 price target (up from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. BidaskClub downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Vetr upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $47.30 price objective for the company in a report on Wednesday, November 15th. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology to $60.00 and gave the company an “overweight” rating in a report on Wednesday, December 20th. Finally, Zacks Investment Research lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $55.80.

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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.

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

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