Micron Technology, Inc. (MU) Shares Sold by Sciencast Management LP

Sciencast Management LP lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 50.4% during the first quarter, Holdings Channel reports. The fund owned 20,938 shares of the semiconductor manufacturer’s stock after selling 21,289 shares during the quarter. Sciencast Management LP’s holdings in Micron Technology were worth $1,094,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of MU. Penserra Capital Management LLC lifted its stake in shares of Micron Technology by 26.9% during the fourth quarter. Penserra Capital Management LLC now owns 8,834 shares of the semiconductor manufacturer’s stock worth $363,000 after purchasing an additional 1,872 shares in the last quarter. Cetera Advisors LLC lifted its stake in shares of Micron Technology by 138.8% during the fourth quarter. Cetera Advisors LLC now owns 37,765 shares of the semiconductor manufacturer’s stock worth $1,551,000 after purchasing an additional 21,953 shares in the last quarter. Cetera Advisor Networks LLC lifted its stake in shares of Micron Technology by 111.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 15,504 shares of the semiconductor manufacturer’s stock worth $637,000 after purchasing an additional 8,177 shares in the last quarter. Retirement Systems of Alabama lifted its stake in shares of Micron Technology by 3.4% during the fourth quarter. Retirement Systems of Alabama now owns 558,883 shares of the semiconductor manufacturer’s stock worth $22,981,000 after purchasing an additional 18,391 shares in the last quarter. Finally, Greenleaf Trust lifted its stake in shares of Micron Technology by 81.7% during the fourth quarter. Greenleaf Trust now owns 14,503 shares of the semiconductor manufacturer’s stock worth $596,000 after purchasing an additional 6,523 shares in the last quarter. Hedge funds and other institutional investors own 78.55% of the company’s stock.

In related news, EVP Scott J. Deboer sold 24,795 shares of the stock in a transaction that occurred on Friday, May 25th. The stock was sold at an average price of $62.00, for a total value of $1,537,290.00. Following the completion of the transaction, the executive vice president now directly owns 128,579 shares of the company’s stock, valued at approximately $7,971,898. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Deboer sold 13,695 shares of the stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $56.11, for a total value of $768,426.45. Following the completion of the transaction, the executive vice president now directly owns 133,799 shares of the company’s stock, valued at $7,507,461.89. The disclosure for this sale can be found here. Insiders have sold 77,850 shares of company stock valued at $4,233,228 over the last ninety days. Corporate insiders own 0.53% of the company’s stock.

MU has been the topic of several recent analyst reports. Nomura boosted their price target on Micron Technology and gave the stock a “buy” rating in a research note on Monday, March 12th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $56.88 price target on the stock in a research note on Monday, March 12th. Mizuho reiterated a “buy” rating and issued a $66.00 price target (up previously from $55.00) on shares of Micron Technology in a research note on Tuesday, March 13th. Zacks Investment Research upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Thursday, March 8th. Finally, Cowen set a $53.00 price target on Micron Technology and gave the stock a “buy” rating in a research note on Wednesday, February 21st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have issued a buy rating and three have issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $66.86.

Micron Technology opened at $59.18 on Friday, Marketbeat Ratings reports. The company has a market cap of $69.64 billion, a PE ratio of 13.42, a P/E/G ratio of 0.53 and a beta of 1.37. Micron Technology, Inc. has a 52 week low of $26.85 and a 52 week high of $64.66. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.58 and a quick ratio of 2.06.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.27. The company had revenue of $7.35 billion during the quarter, compared to analyst estimates of $7.28 billion. Micron Technology had a return on equity of 48.27% and a net margin of 38.68%. The business’s revenue was up 58.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 earnings per share. equities research analysts anticipate that Micron Technology, Inc. will post 11.36 EPS for the current year.

Micron Technology declared that its Board of Directors has initiated a share repurchase program on Monday, May 21st that allows the company to repurchase $10.00 billion in shares. This repurchase authorization allows the semiconductor manufacturer to repurchase up to 16.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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

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