Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Mark Asset Management LP

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Mark Asset Management LP decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 70.3% during the 2nd quarter, Holdings Channel reports. The fund owned 48,000 shares of the semiconductor manufacturer’s stock after selling 113,603 shares during the quarter. Mark Asset Management LP’s holdings in Micron Technology were worth $2,473,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MU. Public Employees Retirement Association of Colorado raised its holdings in Micron Technology by 4.7% in the first quarter. Public Employees Retirement Association of Colorado now owns 210,354 shares of the semiconductor manufacturer’s stock valued at $8,847,000 after acquiring an additional 9,504 shares in the last quarter. Prudential PLC raised its holdings in Micron Technology by 6.4% in the first quarter. Prudential PLC now owns 29,039 shares of the semiconductor manufacturer’s stock valued at $1,221,000 after acquiring an additional 1,759 shares in the last quarter. Natixis Advisors L.P. raised its holdings in Micron Technology by 43.6% in the first quarter. Natixis Advisors L.P. now owns 131,099 shares of the semiconductor manufacturer’s stock valued at $5,514,000 after acquiring an additional 39,792 shares in the last quarter. Stratos Wealth Partners LTD. raised its holdings in Micron Technology by 22.5% in the first quarter. Stratos Wealth Partners LTD. now owns 19,743 shares of the semiconductor manufacturer’s stock valued at $830,000 after acquiring an additional 3,626 shares in the last quarter. Finally, GWM Advisors LLC raised its holdings in Micron Technology by 39.6% in the first quarter. GWM Advisors LLC now owns 24,124 shares of the semiconductor manufacturer’s stock valued at $1,015,000 after acquiring an additional 6,842 shares in the last quarter. 79.66% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on MU. Cowen cut their price objective on shares of Micron Technology from $65.00 to $60.00 and set an “outperform” rating on the stock in a report on Thursday, August 6th. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $65.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Cascend Securities cut their price objective on shares of Micron Technology from $70.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, August 13th. Susquehanna Bancshares reissued a “buy” rating on shares of Micron Technology in a report on Friday, July 24th. Finally, KeyCorp raised their price objective on shares of Micron Technology from $59.00 to $70.00 and gave the stock an “overweight” rating in a report on Tuesday, June 30th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $61.94.

In other Micron Technology news, EVP Scott J. Deboer sold 13,695 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $48.34, for a total transaction of $662,016.30. Following the sale, the executive vice president now directly owns 142,063 shares in the company, valued at approximately $6,867,325.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott J. Deboer sold 10,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $51.79, for a total transaction of $517,900.00. Following the sale, the executive vice president now owns 128,368 shares in the company, valued at $6,648,178.72. The disclosure for this sale can be found here. Insiders have sold a total of 24,003 shares of company stock worth $1,195,427 over the last 90 days. Insiders own 0.18% of the company’s stock.

NASDAQ:MU traded up $0.15 during midday trading on Friday, reaching $46.48. The stock had a trading volume of 20,594,691 shares, compared to its average volume of 18,698,224. The firm has a fifty day simple moving average of $47.87 and a two-hundred day simple moving average of $47.69. Micron Technology, Inc. has a 12-month low of $31.13 and a 12-month high of $61.19. The company has a quick ratio of 2.02, a current ratio of 2.89 and a debt-to-equity ratio of 0.17. The stock has a market cap of $51.64 billion, a P/E ratio of 23.36, a P/E/G ratio of 1.32 and a beta of 1.35.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Monday, June 29th. The semiconductor manufacturer reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.11. The firm had revenue of $5.44 billion for the quarter, compared to analyst estimates of $5.05 billion. Micron Technology had a net margin of 11.16% and a return on equity of 6.31%. Micron Technology’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the firm posted $1.05 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 2.45 earnings per share for the current fiscal year.

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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