Micron Technology, Inc. (MU) Stake Lessened by Greenleaf Trust

Greenleaf Trust decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 4.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,933 shares of the semiconductor manufacturer’s stock after selling 981 shares during the quarter. Greenleaf Trust’s holdings in Micron Technology were worth $632,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FDx Advisors Inc. grew its position in Micron Technology by 23.2% during the fourth quarter. FDx Advisors Inc. now owns 7,792 shares of the semiconductor manufacturer’s stock valued at $247,000 after buying an additional 1,465 shares during the period. Eaton Vance Management grew its position in Micron Technology by 3.1% during the fourth quarter. Eaton Vance Management now owns 550,837 shares of the semiconductor manufacturer’s stock valued at $17,478,000 after buying an additional 16,499 shares during the period. Apertura Capital LLC grew its position in Micron Technology by 66.7% during the fourth quarter. Apertura Capital LLC now owns 100,000 shares of the semiconductor manufacturer’s stock valued at $3,173,000 after buying an additional 40,000 shares during the period. Prudential Financial Inc. grew its position in Micron Technology by 7.0% during the fourth quarter. Prudential Financial Inc. now owns 2,555,370 shares of the semiconductor manufacturer’s stock valued at $81,082,000 after buying an additional 166,218 shares during the period. Finally, WESPAC Advisors SoCal LLC grew its position in Micron Technology by 11.1% during the fourth quarter. WESPAC Advisors SoCal LLC now owns 4,887 shares of the semiconductor manufacturer’s stock valued at $155,000 after buying an additional 487 shares during the period. Hedge funds and other institutional investors own 74.45% of the company’s stock.

Several research firms have commented on MU. MKM Partners dropped their price objective on shares of Micron Technology from $50.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Piper Jaffray Companies dropped their price objective on shares of Micron Technology to $36.00 and set a “neutral” rating on the stock in a report on Wednesday, December 19th. Zacks Investment Research downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a report on Friday, December 7th. Deutsche Bank dropped their price objective on shares of Micron Technology from $60.00 to $48.00 and set a “buy” rating on the stock in a report on Wednesday, December 19th. Finally, Royal Bank of Canada reaffirmed a “neutral” rating and set a $40.00 price objective on shares of Micron Technology in a report on Tuesday, December 25th. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $59.52.

Shares of Micron Technology stock opened at $41.53 on Friday. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $64.66. The stock has a market capitalization of $47.32 billion, a PE ratio of 3.42, a PEG ratio of 0.87 and a beta of 1.85. The company has a current ratio of 2.90, a quick ratio of 2.15 and a debt-to-equity ratio of 0.11.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, December 18th. The semiconductor manufacturer reported $2.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.07. Micron Technology had a net margin of 46.82% and a return on equity of 48.58%. The firm had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $8.01 billion. During the same period in the prior year, the firm posted $2.45 earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 7.65 earnings per share for the current year.

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About Micron Technology

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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