Micron Technology, Inc. (NASDAQ:MU) Position Lessened by State of Wisconsin Investment Board

State of Wisconsin Investment Board lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,275,898 shares of the semiconductor manufacturer’s stock after selling 45,386 shares during the quarter. State of Wisconsin Investment Board owned 0.12% of Micron Technology worth $52,733,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Berman Capital Advisors LLC boosted its stake in shares of Micron Technology by 56.7% during the first quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 255 shares during the period. Gemmer Asset Management LLC raised its holdings in Micron Technology by 49.9% in the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 235 shares in the last quarter. Valeo Financial Advisors LLC raised its holdings in Micron Technology by 73.3% in the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Executive Wealth Management LLC bought a new position in Micron Technology in the fourth quarter worth about $26,000. Finally, Citizens Financial Group Inc RI acquired a new position in shares of Micron Technology during the first quarter valued at about $37,000. 77.03% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Joel L. Poppen sold 20,210 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $41.45, for a total value of $837,704.50. Following the transaction, the senior vice president now owns 269,368 shares of the company’s stock, valued at $11,165,303.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 0.20% of the company’s stock.

MU has been the topic of several research reports. Zacks Investment Research upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. KeyCorp lowered their price objective on Micron Technology from $48.00 to $45.00 and set an “overweight” rating on the stock in a research report on Wednesday. Royal Bank of Canada restated a “buy” rating and issued a $50.00 price objective on shares of Micron Technology in a research report on Wednesday. JPMorgan Chase & Co. restated an “overweight” rating on shares of Micron Technology in a research report on Friday, June 21st. Finally, Bank of America upped their price objective on Micron Technology from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Wednesday. Five research analysts have rated the stock with a sell rating, eleven have given a hold rating and nineteen have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $45.81.

MU stock traded up $0.52 during trading on Friday, hitting $38.59. 44,504,470 shares of the company’s stock were exchanged, compared to its average volume of 30,258,369. The firm’s 50-day moving average price is $34.68. The firm has a market capitalization of $40.99 billion, a PE ratio of 3.26 and a beta of 1.94. Micron Technology, Inc. has a 52-week low of $28.39 and a 52-week high of $58.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 1.65.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, topping the consensus estimate of $0.75 by $0.30. The company had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.70 billion. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The firm’s revenue was down 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.15 earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 5.98 EPS for the current year.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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

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