Securian Asset Management Inc Decreases Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Securian Asset Management Inc cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 114,102 shares of the semiconductor manufacturer’s stock after selling 567 shares during the period. Securian Asset Management Inc’s holdings in Micron Technology were worth $4,403,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Berman Capital Advisors LLC increased its position in Micron Technology by 56.7% in the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 255 shares during the period. Citizens Financial Group Inc RI purchased a new stake in Micron Technology in the 1st quarter valued at approximately $37,000. Cullen Frost Bankers Inc. purchased a new stake in Micron Technology in the 1st quarter valued at approximately $38,000. Capital Investment Advisory Services LLC boosted its stake in shares of Micron Technology by 85.3% during the 1st quarter. Capital Investment Advisory Services LLC now owns 1,086 shares of the semiconductor manufacturer’s stock worth $45,000 after acquiring an additional 500 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of Micron Technology by 40.9% during the 2nd quarter. Huntington National Bank now owns 1,271 shares of the semiconductor manufacturer’s stock worth $49,000 after acquiring an additional 369 shares in the last quarter. Institutional investors own 77.06% of the company’s stock.

Several equities research analysts have recently commented on the company. Goldman Sachs Group raised Micron Technology from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $40.00 to $56.00 in a research note on Sunday, July 21st. KeyCorp decreased their price target on Micron Technology from $48.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 26th. Mizuho reissued a “hold” rating and set a $44.00 price target on shares of Micron Technology in a research note on Thursday, July 11th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Micron Technology in a research note on Friday, June 21st. Finally, Cfra lowered Micron Technology to a “sell” rating and set a $32.00 price target on the stock. in a research note on Wednesday, May 22nd. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $48.27.

NASDAQ:MU traded up $0.69 on Thursday, reaching $44.86. The stock had a trading volume of 206,132 shares, compared to its average volume of 26,796,752. The company has a current ratio of 2.79, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $53.68. The company has a 50-day moving average of $43.73 and a 200 day moving average of $40.20. The stock has a market cap of $49.68 billion, a P/E ratio of 3.79 and a beta of 1.96.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.75 by $0.30. The firm had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.70 billion. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. Micron Technology’s quarterly revenue was down 38.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.15 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.06 EPS for the current year.

In other news, SVP April S. Arnzen sold 4,800 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $45.00, for a total transaction of $216,000.00. Following the transaction, the senior vice president now owns 79,392 shares in the company, valued at approximately $3,572,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 2,400 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $48.44, for a total transaction of $116,256.00. Following the transaction, the senior vice president now owns 76,992 shares in the company, valued at approximately $3,729,492.48. The disclosure for this sale can be found here. Insiders sold a total of 57,244 shares of company stock valued at $2,624,899 in the last ninety days. Company insiders own 0.20% of the company’s stock.

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.

Featured Story: How does equity income fit into an investing strategy?

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

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.