Steward Partners Investment Advisory LLC Sells 18,940 Shares of Micron Technology, Inc. (NASDAQ:MU)

Steward Partners Investment Advisory LLC cut its position in Micron Technology, Inc. (NASDAQ:MU) by 77.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,467 shares of the semiconductor manufacturer’s stock after selling 18,940 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Micron Technology were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Gemmer Asset Management LLC grew its stake in Micron Technology by 49.9% during the first 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 in the last quarter. Valeo Financial Advisors LLC grew its stake in Micron Technology by 73.3% during the first 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 in the last quarter. Berman Capital Advisors LLC grew its stake in Micron Technology by 56.7% during the first 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 in the last quarter. Citizens Financial Group Inc RI purchased a new position in Micron Technology during the first quarter valued at $37,000. Finally, Cullen Frost Bankers Inc. purchased a new position in Micron Technology during the first quarter valued at $38,000. 77.42% of the stock is owned by hedge funds and other institutional investors.

Shares of MU opened at $44.17 on Wednesday. Micron Technology, Inc. has a 1-year low of $28.39 and a 1-year high of $53.68. The firm’s 50-day moving average is $42.84. The company has a market cap of $45.83 billion, a price-to-earnings ratio of 3.74 and a beta of 1.96. The company has a quick ratio of 1.88, a current ratio of 2.79 and a debt-to-equity ratio of 0.10.

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, beating analysts’ consensus estimates of $0.75 by $0.30. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The company had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter last year, the business posted $3.15 EPS. The firm’s revenue for the quarter was down 38.6% on a year-over-year basis. Equities analysts predict that Micron Technology, Inc. will post 6.06 EPS for the current year.

MU has been the subject of several research analyst reports. Piper Jaffray Companies cut their target price on shares of Micron Technology from $40.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Barclays raised their target price on shares of Micron Technology from $40.00 to $50.00 and gave the company an “overweight” 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 target price for the company in a research note on Wednesday, June 26th. Bank of America raised their target price on shares of Micron Technology from $45.00 to $60.00 and gave the company an “average” rating in a research note on Thursday, July 18th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 target price on shares of Micron Technology in a research note 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 company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $48.27.

In other Micron Technology news, insider Joel L. Poppen sold 654 shares of the firm’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $45.64, for a total transaction of $29,848.56. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP April S. Arnzen sold 4,800 shares of the firm’s stock in a transaction dated 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 directly owns 79,392 shares in the company, valued at approximately $3,572,640. The disclosure for this sale can be found here. Insiders have sold a total of 57,244 shares of company stock valued at $2,624,899 in the last quarter. 0.20% of the stock is currently owned by company insiders.

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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