Meag Munich Ergo Kapitalanlagegesellschaft MBH Reduces Stake in Micron Technology, Inc. (MU)

Meag Munich Ergo Kapitalanlagegesellschaft MBH decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 71.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 255,920 shares of the semiconductor manufacturer’s stock after selling 643,100 shares during the quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings in Micron Technology were worth $9,745,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of MU. Fox Run Management L.L.C. bought a new position in shares of Micron Technology during the 2nd quarter worth about $218,000. Capstone Asset Management Co. boosted its position in shares of Micron Technology by 3.9% during the 2nd quarter. Capstone Asset Management Co. now owns 75,486 shares of the semiconductor manufacturer’s stock valued at $2,254,000 after acquiring an additional 2,821 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its position in shares of Micron Technology by 190.5% during the 2nd quarter. NN Investment Partners Holdings N.V. now owns 18,718 shares of the semiconductor manufacturer’s stock valued at $559,000 after acquiring an additional 12,275 shares in the last quarter. James Investment Research Inc. acquired a new stake in shares of Micron Technology during the 2nd quarter valued at about $1,289,000. Finally, Eqis Capital Management Inc. boosted its position in shares of Micron Technology by 9.0% during the 2nd quarter. Eqis Capital Management Inc. now owns 11,904 shares of the semiconductor manufacturer’s stock valued at $355,000 after acquiring an additional 978 shares in the last quarter. Institutional investors own 76.21% of the company’s stock.

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In other Micron Technology news, insider Joel L. Poppen sold 80,000 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.61, for a total value of $3,088,800.00. Following the completion of the sale, the insider now owns 266,966 shares in the company, valued at $10,307,557.26. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total transaction of $133,650.00. Following the completion of the sale, the director now owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 333,415 shares of company stock valued at $12,602,325. Corporate insiders own 0.69% of the company’s stock.

Shares of Micron Technology, Inc. (NASDAQ MU) traded up $1.28 on Friday, reaching $44.78. 33,840,700 shares of the company traded hands, compared to its average volume of 33,863,948. Micron Technology, Inc. has a fifty-two week low of $16.90 and a fifty-two week high of $45.33. The firm has a market capitalization of $51,642.76, a PE ratio of 10.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the prior year, the company posted ($0.01) earnings per share. The firm’s revenue was up 90.8% on a year-over-year basis. equities research analysts predict that Micron Technology, Inc. will post 7.42 EPS for the current year.

MU has been the topic of several recent research reports. Citigroup Inc. set a $45.00 target price on shares of Micron Technology and gave the company a “buy” rating in a research report on Wednesday, July 19th. BMO Capital Markets reiterated a “hold” rating on shares of Micron Technology in a research report on Thursday, July 27th. Mizuho reiterated an “outperform” rating and set a $38.00 target price on shares of Micron Technology in a research report on Thursday, July 27th. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Wells Fargo & Company reiterated an “outperform” rating on shares of Micron Technology in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $46.96.

About Micron Technology

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

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