Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Wealthfront Advisers LLC

Wealthfront Advisers LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 4.8% in the 1st quarter, Holdings Channel reports. The firm owned 23,584 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,070 shares during the period. Wealthfront Advisers LLC’s holdings in Micron Technology were worth $975,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc raised its position in Micron Technology by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 87,876,412 shares of the semiconductor manufacturer’s stock worth $3,974,651,000 after buying an additional 1,176,989 shares during the last quarter. Geode Capital Management LLC raised its position in Micron Technology by 1.6% during the 4th quarter. Geode Capital Management LLC now owns 14,631,169 shares of the semiconductor manufacturer’s stock worth $463,429,000 after buying an additional 229,817 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Micron Technology by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 13,620,725 shares of the semiconductor manufacturer’s stock worth $562,739,000 after buying an additional 50,656 shares during the last quarter. Northern Trust Corp raised its position in Micron Technology by 0.7% during the 1st quarter. Northern Trust Corp now owns 12,369,000 shares of the semiconductor manufacturer’s stock worth $511,211,000 after buying an additional 92,028 shares during the last quarter. Finally, Norges Bank purchased a new position in Micron Technology during the 4th quarter worth approximately $365,896,000. 77.05% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP Joel L. Poppen sold 20,210 shares of Micron Technology stock in a transaction on Monday, April 15th. The shares were sold at an average price of $41.45, for a total value of $837,704.50. Following the sale, the senior vice president now owns 269,368 shares of the company’s stock, valued at approximately $11,165,303.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 14,486 shares of Micron Technology stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $42.88, for a total transaction of $621,159.68. Following the completion of the sale, the executive vice president now directly owns 150,236 shares in the company, valued at approximately $6,442,119.68. The disclosure for this sale can be found here. Insiders sold a total of 55,878 shares of company stock worth $2,293,223 in the last three months. 0.20% of the stock is owned by corporate insiders.

A number of research firms have issued reports on MU. UBS Group raised their price target on shares of Micron Technology to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and set a $75.00 price target on shares of Micron Technology in a research report on Tuesday, March 19th. BidaskClub lowered shares of Micron Technology from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 23rd. Barclays reduced their price target on shares of Micron Technology from $45.00 to $40.00 and set an “overweight” rating for the company in a research report on Thursday, June 6th. Finally, Cowen raised their price target on shares of Micron Technology to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. Five analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $50.89.

Shares of NASDAQ:MU traded down $0.75 during trading on Friday, hitting $32.63. 11,822,547 shares of the stock traded hands, compared to its average volume of 24,049,874. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.25 and a quick ratio of 1.65. The firm has a market cap of $36.48 billion, a price-to-earnings ratio of 2.76 and a beta of 1.94. Micron Technology, Inc. has a 52-week low of $28.39 and a 52-week high of $61.83.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.82 billion. During the same period in the previous year, the firm earned $2.82 EPS. The business’s quarterly revenue was down 20.6% on a year-over-year basis. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.09 earnings per share for the current fiscal year.

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About Micron Technology

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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