Micron Technology, Inc. (NASDAQ:MU) Position Increased by Leavell Investment Management Inc.

Leavell Investment Management Inc. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,500 shares of the semiconductor manufacturer’s stock after purchasing an additional 500 shares during the period. Leavell Investment Management Inc.’s holdings in Micron Technology were worth $444,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Valeo Financial Advisors LLC grew its position in shares of Micron Technology by 73.3% during the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 300 shares during the last quarter. Gemmer Asset Management LLC grew its position in shares of Micron Technology by 49.9% during the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 235 shares during the last quarter. Berman Capital Advisors LLC grew its position in shares of Micron Technology by 56.7% during the first quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 255 shares during the last quarter. Citizens Financial Group Inc RI bought a new position in shares of Micron Technology during the first quarter worth about $37,000. Finally, Cullen Frost Bankers Inc. bought a new position in shares of Micron Technology during the first quarter worth about $38,000. Hedge funds and other institutional investors own 77.36% of the company’s stock.

In other Micron Technology news, SVP April S. Arnzen sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $45.00, for a total transaction of $216,000.00. Following the completion of the sale, the senior vice president now owns 79,392 shares of the company’s stock, valued at $3,572,640. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $48.44, for a total value of $116,256.00. Following the sale, the senior vice president now directly owns 76,992 shares of the company’s stock, valued at approximately $3,729,492.48. The disclosure for this sale can be found here. Insiders have sold 56,163 shares of company stock valued at $2,575,562 in the last ninety days. Company insiders own 0.20% of the company’s stock.

Shares of MU opened at $46.48 on Wednesday. The firm has a market cap of $52.42 billion, a P/E ratio of 3.93 and a beta of 1.97. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $54.22. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.10. The firm has a 50-day simple moving average of $40.16.

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

Several research firms recently weighed in on MU. Needham & Company LLC raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Wednesday, June 26th. Cfra downgraded shares of Micron Technology to a “sell” rating and set a $32.00 price objective for the company. in a report on Wednesday, May 22nd. KeyCorp reaffirmed an “overweight” rating and issued a $136.00 price objective (up previously from $127.00) on shares of Coupa Software in a report on Wednesday, June 26th. Stifel Nicolaus reduced their price objective on shares of Micron Technology from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $60.00 price target on shares of Micron Technology in a report on Friday, May 24th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have issued a buy rating to the stock. Micron Technology currently has an average rating of “Hold” and an average target price of $48.27.

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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