Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Stifel Financial Corp

Stifel Financial Corp reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 37.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,969 shares of the semiconductor manufacturer’s stock after selling 122,261 shares during the quarter. Stifel Financial Corp’s holdings in Micron Technology were worth $8,864,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in Micron Technology by 1.0% during the 2nd quarter. BlackRock Inc. now owns 73,370,753 shares of the semiconductor manufacturer’s stock worth $2,831,377,000 after purchasing an additional 717,819 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Micron Technology by 56.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 29,459,631 shares of the semiconductor manufacturer’s stock worth $1,136,847,000 after buying an additional 10,672,909 shares during the period. Northern Trust Corp boosted its position in shares of Micron Technology by 8.0% in the second quarter. Northern Trust Corp now owns 13,355,786 shares of the semiconductor manufacturer’s stock worth $515,401,000 after buying an additional 986,786 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Micron Technology by 154.2% during the second quarter. Renaissance Technologies LLC now owns 9,735,914 shares of the semiconductor manufacturer’s stock valued at $375,709,000 after buying an additional 5,905,239 shares in the last quarter. Finally, Viking Global Investors LP grew its holdings in shares of Micron Technology by 180.9% during the second quarter. Viking Global Investors LP now owns 6,431,167 shares of the semiconductor manufacturer’s stock valued at $248,179,000 after buying an additional 4,141,275 shares in the last quarter. Institutional investors and hedge funds own 77.51% of the company’s stock.

Shares of NASDAQ:MU opened at $45.23 on Wednesday. The stock has a market capitalization of $50.07 billion, a PE ratio of 7.35 and a beta of 1.97. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $51.39. The firm has a fifty day moving average price of $46.83 and a 200 day moving average price of $42.96. The company has a current ratio of 2.58, a quick ratio of 1.78 and a debt-to-equity ratio of 0.12.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.13. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.56 billion. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The business’s revenue was down 42.3% compared to the same quarter last year. During the same period last year, the company earned $3.53 earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 2.16 earnings per share for the current fiscal year.

Several brokerages recently issued reports on MU. Royal Bank of Canada set a $55.00 price objective on Micron Technology and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Rosenblatt Securities set a $80.00 target price on Micron Technology and gave the company a “buy” rating in a research note on Friday, September 27th. JPMorgan Chase & Co. upped their target price on Micron Technology from $50.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Susquehanna Bancshares set a $45.00 target price on Micron Technology and gave the company a “hold” rating in a report on Friday, September 27th. Finally, Longbow Research reissued a “buy” rating on shares of Micron Technology in a research report on Tuesday, October 15th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $53.46.

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $50.00, for a total transaction of $1,000,000.00. Following the completion of the transaction, the executive vice president now owns 110,236 shares of the company’s stock, valued at approximately $5,511,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 4,534 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.10, for a total transaction of $209,017.40. The disclosure for this sale can be found here. Insiders have sold 54,527 shares of company stock valued at $2,536,490 in the last ninety days. Company insiders own 0.20% of the company’s stock.

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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