Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 3.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,217 shares of the semiconductor manufacturer’s stock after selling 1,036 shares during the quarter. Moors & Cabot Inc.’s holdings in Micron Technology were worth $1,093,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of MU. Gemmer Asset Management LLC grew its stake in Micron Technology by 49.9% in the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 235 shares during the last quarter. Raymond James Trust N.A. grew its stake in Micron Technology by 2.2% in the 2nd quarter. Raymond James Trust N.A. now owns 10,868 shares of the semiconductor manufacturer’s stock valued at $419,000 after acquiring an additional 238 shares during the last quarter. Berman Capital Advisors LLC grew its stake 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 last quarter. Valeo Financial Advisors LLC grew its stake in Micron Technology by 73.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 300 shares during the last quarter. Finally, Founders Capital Management grew its stake in Micron Technology by 12.0% in the 2nd quarter. Founders Capital Management now owns 2,800 shares of the semiconductor manufacturer’s stock valued at $108,000 after acquiring an additional 300 shares during the last quarter. 77.36% of the stock is currently owned by institutional investors and hedge funds.

In related news, SVP April S. Arnzen sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $48.44, for a total value of $116,256.00. Following the transaction, the senior vice president now owns 76,992 shares in the company, valued at $3,729,492.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive vice president now owns 130,236 shares in the company, valued at approximately $5,860,620. The disclosure for this sale can be found here. Insiders sold 56,163 shares of company stock worth $2,575,562 in the last 90 days. 0.20% of the stock is currently owned by insiders.

Shares of MU stock traded down $1.29 during trading hours on Wednesday, hitting $46.17. 6,891,078 shares of the company were exchanged, compared to its average volume of 29,700,588. The stock has a market cap of $52.42 billion, a price-to-earnings ratio of 3.91 and a beta of 1.97. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $54.22. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.88 and a current ratio of 2.79. The business’s fifty day moving average price is $40.16.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.30. The business 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%. The company’s revenue was down 38.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.15 EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 6.06 earnings per share for the current year.

MU has been the topic of a number of research reports. Barclays set a €81.00 ($94.19) price objective on shares of Fresenius Medical Care AG & Co. KGaA and gave the company a “buy” rating in a research note on Thursday, July 18th. Needham & Company LLC raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Wednesday, June 26th. KeyCorp reissued an “overweight” rating and issued a $136.00 price objective (up from $127.00) on shares of Coupa Software in a research note on Wednesday, June 26th. Cfra lowered shares of Micron Technology to a “sell” rating and set a $32.00 target price on the stock. in a report on Wednesday, May 22nd. Finally, Wedbush upgraded shares of Sunstone Hotel Investors from a “neutral” rating to an “outperform” rating in a report on Wednesday, June 26th. 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 company’s stock. The stock currently has an average rating of “Hold” and an average price target of $48.27.

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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