Vanguard Group Inc. raised its stake in shares of Micron Technology Inc. (NASDAQ:MU) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 78,613,946 shares of the semiconductor manufacturer’s stock after buying an additional 1,688,493 shares during the period. Vanguard Group Inc. owned about 7.57% of Micron Technology worth $1,081,728,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MU. IFP Advisors Inc raised its position in Micron Technology by 20.3% in the first quarter. IFP Advisors Inc now owns 28,908 shares of the semiconductor manufacturer’s stock valued at $303,000 after buying an additional 4,873 shares during the period. ICM Asset Management Inc. WA purchased a new stake in shares of Micron Technology during the first quarter valued at $1,124,000. Virginia Retirement System purchased a new stake in shares of Micron Technology during the first quarter valued at $5,076,000. Nisa Investment Advisors L.L.C. increased its stake in shares of Micron Technology by 62.9% in the first quarter. Nisa Investment Advisors L.L.C. now owns 241,089 shares of the semiconductor manufacturer’s stock valued at $2,524,000 after buying an additional 93,100 shares in the last quarter. Finally, Aperio Group LLC increased its stake in shares of Micron Technology by 31.8% in the first quarter. Aperio Group LLC now owns 317,043 shares of the semiconductor manufacturer’s stock valued at $3,319,000 after buying an additional 76,525 shares in the last quarter. 81.42% of the stock is owned by institutional investors and hedge funds.

Shares of Micron Technology Inc. (NASDAQ:MU) traded up 3.848% during mid-day trading on Wednesday, reaching $17.571. 11,067,965 shares of the company’s stock traded hands. The company has a 50 day moving average of $15.96 and a 200 day moving average of $12.75. The company has a market cap of $18.25 billion, a price-to-earnings ratio of 50.491 and a beta of 1.81. Micron Technology Inc. has a 12 month low of $9.31 and a 12 month high of $19.30.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, June 30th. The semiconductor manufacturer reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.09) by $0.01. Micron Technology had a return on equity of 3.95% and a net margin of 2.86%. The firm had revenue of $2.90 billion for the quarter. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue was down 24.8% on a year-over-year basis. Analysts expect that Micron Technology Inc. will post ($0.02) earnings per share for the current fiscal year.

Several analysts recently weighed in on the stock. Credit Suisse Group AG reiterated a “buy” rating and issued a $20.00 price objective on shares of Micron Technology in a research report on Friday, September 9th. Deutsche Bank AG restated a “buy” rating and set a $20.00 price target on shares of Micron Technology in a research report on Friday, September 16th. Cleveland Research upgraded shares of Micron Technology from a “neutral” rating to a “buy” rating in a research report on Friday, September 16th. Vetr upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $20.86 price target on the stock in a research report on Tuesday, September 6th. Finally, Nomura boosted their price target on shares of Micron Technology from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-eight have given a buy rating and two have given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $17.72.

In other news, VP Brian Shirley sold 48,750 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $12.37, for a total transaction of $603,037.50. Following the sale, the vice president now directly owns 381,264 shares in the company, valued at $4,716,235.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Scott J. Deboer sold 31,500 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $17.05, for a total value of $537,075.00. Following the sale, the vice president now owns 207,265 shares in the company, valued at $3,533,868.25. The disclosure for this sale can be found here. 0.85% of the stock is owned by company insiders.

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