Patriot Financial Group Insurance Agency LLC Has $238,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Patriot Financial Group Insurance Agency LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,433 shares of the semiconductor manufacturer’s stock after selling 253 shares during the quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Micron Technology were worth $238,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in MU. BlackRock Inc. grew its holdings in shares of 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. Platinum Investment Management Ltd. grew its stake in Micron Technology by 95.9% during the second quarter. Platinum Investment Management Ltd. now owns 5,021,110 shares of the semiconductor manufacturer’s stock worth $193,765,000 after buying an additional 2,458,645 shares in the last quarter. Nuveen Asset Management LLC grew its stake in Micron Technology by 508.8% during the second quarter. Nuveen Asset Management LLC now owns 4,993,986 shares of the semiconductor manufacturer’s stock worth $192,717,000 after buying an additional 4,173,660 shares in the last quarter. Amundi Pioneer Asset Management Inc. increased its holdings in Micron Technology by 23.1% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 4,301,423 shares of the semiconductor manufacturer’s stock valued at $165,992,000 after buying an additional 807,317 shares during the period. Finally, Manning & Napier Group LLC increased its holdings in Micron Technology by 135.5% in the 3rd quarter. Manning & Napier Group LLC now owns 4,200,323 shares of the semiconductor manufacturer’s stock valued at $179,983,000 after buying an additional 2,416,447 shares during the period. 77.28% of the stock is currently owned by institutional investors and hedge funds.

MU has been the subject of a number of recent analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price target on shares of Micron Technology in a report on Thursday, December 19th. Sanford C. Bernstein set a $65.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research note on Friday, September 27th. Barclays restated a “buy” rating and set a $70.00 price objective on shares of Micron Technology in a research report on Sunday, January 19th. Piper Jaffray Companies upped their target price on Micron Technology from $46.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th. Finally, ValuEngine cut Micron Technology from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 24th. Five research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Micron Technology has an average rating of “Buy” and an average price target of $62.97.

In related news, SVP April S. Arnzen sold 4,534 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.10, for a total value of $209,017.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Joel L. Poppen sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $56.97, for a total value of $1,139,400.00. Following the completion of the sale, the senior vice president now owns 301,395 shares in the company, valued at $17,170,473.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,534 shares of company stock worth $2,448,417. 0.18% of the stock is owned by company insiders.

Shares of NASDAQ MU opened at $59.34 on Friday. The company has a 50 day simple moving average of $54.27 and a 200 day simple moving average of $47.87. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 1.78. Micron Technology, Inc. has a 1 year low of $32.14 and a 1 year high of $60.56. The firm has a market cap of $66.19 billion, a PE ratio of 19.27 and a beta of 1.98.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Micron Technology had a net margin of 17.01% and a return on equity of 11.36%. The firm had revenue of $5.14 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm posted $2.97 EPS. The company’s revenue for the quarter was down 35.0% compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post 2.09 earnings per share for the current fiscal year.

Micron Technology 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.

Further Reading: Market Indexes

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

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