Verde Servicos Internacionais S.A. cut its position in Micron Technology, Inc. (NASDAQ:MU) by 80.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,872 shares of the semiconductor manufacturer’s stock after selling 323,668 shares during the period. Verde Servicos Internacionais S.A.’s holdings in Micron Technology were worth $3,325,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. IHT Wealth Management LLC bought a new stake in shares of Micron Technology during the second quarter worth $1,056,000. SevenBridge Financial Group LLC grew its position in Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after purchasing an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. grew its position in Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after purchasing an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC grew its position in Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after purchasing an additional 2,600 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new position in Micron Technology in the third quarter valued at $204,000. Institutional investors own 80.66% of the company’s stock.
Several equities analysts have recently commented on the stock. Wells Fargo & Co restated a “buy” rating and issued a $54.00 target price (up from $45.00) on shares of Micron Technology in a research report on Wednesday, December 20th. Zacks Investment Research cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Thursday, December 21st. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target on the stock in a report on Wednesday, October 25th. Finally, Cowen set a $50.00 price target on shares of Micron Technology and gave the company a “buy” rating in a report on Tuesday, December 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and a consensus price target of $55.80.
Micron Technology, Inc. (NASDAQ:MU) traded up $0.12 during midday trading on Tuesday, hitting $42.31. 8,310,000 shares of the stock traded hands, compared to its average volume of 42,770,000. Micron Technology, Inc. has a 12-month low of $22.64 and a 12-month high of $49.89. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.83 and a current ratio of 2.39. The company has a market cap of $48,920.00, a price-to-earnings ratio of 6.66, a price-to-earnings-growth ratio of 0.40 and a beta of 1.62.
Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 in the prior year, the business posted $0.32 EPS. The business’s revenue was up 71.4% compared to the same quarter last year. equities analysts forecast that Micron Technology, Inc. will post 10.12 EPS for the current fiscal year.
In related news, EVP Scott J. Deboer sold 14,750 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $43.28, for a total transaction of $638,380.00. Following the completion of the transaction, the executive vice president now owns 134,854 shares in the company, valued at $5,836,481.12. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP April S. Arnzen sold 27,878 shares of the stock in a transaction dated Friday, December 22nd. The shares were sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the transaction, the senior vice president now owns 58,659 shares of the company’s stock, valued at approximately $2,596,833.93. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,470 shares of company stock valued at $7,420,480. 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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