Micron Technology, Inc. (NASDAQ:MU) Shares Sold by M&G Investment Management Ltd.

M&G Investment Management Ltd. reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,216 shares of the semiconductor manufacturer’s stock after selling 2,774 shares during the period. M&G Investment Management Ltd.’s holdings in Micron Technology were worth $5,827,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Stelac Advisory Services LLC boosted its holdings in shares of Micron Technology by 1.0% in the 4th quarter. Stelac Advisory Services LLC now owns 12,289 shares of the semiconductor manufacturer’s stock valued at $924,000 after buying an additional 118 shares during the period. Lindbrook Capital LLC boosted its holdings in shares of Micron Technology by 7.9% in the 1st quarter. Lindbrook Capital LLC now owns 1,647 shares of the semiconductor manufacturer’s stock valued at $145,000 after buying an additional 120 shares during the period. Glassman Wealth Services boosted its holdings in shares of Micron Technology by 23.4% in the 1st quarter. Glassman Wealth Services now owns 681 shares of the semiconductor manufacturer’s stock valued at $60,000 after buying an additional 129 shares during the period. First Horizon Advisors Inc. boosted its holdings in shares of Micron Technology by 1.1% in the 1st quarter. First Horizon Advisors Inc. now owns 11,363 shares of the semiconductor manufacturer’s stock valued at $1,001,000 after buying an additional 129 shares during the period. Finally, JJJ Advisors Inc. boosted its holdings in shares of Micron Technology by 98.7% in the 1st quarter. JJJ Advisors Inc. now owns 314 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 156 shares during the period. 80.41% of the stock is owned by institutional investors.

In related news, EVP Sumit Sadana sold 31,490 shares of the business’s stock in a transaction that occurred on Wednesday, May 19th. The shares were sold at an average price of $79.33, for a total transaction of $2,498,101.70. Following the transaction, the executive vice president now directly owns 125,625 shares of the company’s stock, valued at $9,965,831.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 25,089 shares of the business’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $93.31, for a total transaction of $2,341,054.59. Following the transaction, the executive vice president now directly owns 155,042 shares in the company, valued at $14,466,969.02. The disclosure for this sale can be found here. Insiders have sold 98,997 shares of company stock worth $8,454,200 in the last 90 days. 0.30% of the stock is owned by company insiders.

Several research analysts have recently commented on MU shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $150.00 price target on shares of Micron Technology in a report on Monday, March 29th. Barclays boosted their target price on shares of Micron Technology from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Monday, March 1st. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, April 1st. Royal Bank of Canada boosted their target price on shares of Micron Technology from $110.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, April 1st. Finally, Zacks Investment Research raised shares of Micron Technology from a “hold” rating to a “strong-buy” rating and set a $103.00 target price for the company in a research note on Monday, March 8th. Five research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and two have given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $107.29.

MU stock opened at $79.28 on Friday. Micron Technology, Inc. has a 52-week low of $42.25 and a 52-week high of $96.96. The company’s 50 day moving average price is $85.48. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.18 and a quick ratio of 2.31. The firm has a market capitalization of $88.91 billion, a price-to-earnings ratio of 28.11, a P/E/G ratio of 1.02 and a beta of 1.25.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, March 30th. The semiconductor manufacturer reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.95 by $0.03. Micron Technology had a net margin of 13.60% and a return on equity of 9.81%. The business had revenue of $6.24 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the business earned $0.45 earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 5.27 EPS for the current fiscal year.

About Micron Technology

Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR, and 3D XPoint memory under the Micron and Crucial brands, as well as through private labels.

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

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