American International Group Inc. trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 449,620 shares of the semiconductor manufacturer’s stock after selling 13,428 shares during the quarter. American International Group Inc.’s holdings in Micron Technology were worth $17,684,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BB&T Corp raised its stake in Micron Technology by 11.6% in the 2nd quarter. BB&T Corp now owns 17,169 shares of the semiconductor manufacturer’s stock valued at $513,000 after acquiring an additional 1,787 shares during the period. Regentatlantic Capital LLC bought a new stake in Micron Technology in the 2nd quarter valued at about $256,000. ICM Asset Management Inc. WA increased its position in shares of Micron Technology by 4.0% during the second quarter. ICM Asset Management Inc. WA now owns 91,600 shares of the semiconductor manufacturer’s stock valued at $2,735,000 after buying an additional 3,555 shares during the period. Boston Advisors LLC increased its position in shares of Micron Technology by 1.0% during the second quarter. Boston Advisors LLC now owns 763,590 shares of the semiconductor manufacturer’s stock valued at $22,801,000 after buying an additional 7,345 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD increased its position in shares of Micron Technology by 23.3% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 4,179,137 shares of the semiconductor manufacturer’s stock valued at $124,789,000 after buying an additional 789,926 shares during the period. 76.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Micron Technology, Inc. (MU) opened at $49.14 on Friday. The firm has a market capitalization of $56,670.95, a P/E ratio of 11.07, a PEG ratio of 0.66 and a beta of 1.78. Micron Technology, Inc. has a 52 week low of $18.18 and a 52 week high of $49.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same quarter last year, the firm posted ($0.01) earnings per share. The firm’s revenue was up 90.8% on a year-over-year basis. sell-side analysts forecast that Micron Technology, Inc. will post 7.42 EPS for the current year.

In other Micron Technology news, insider Joel L. Poppen sold 80,000 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $38.61, for a total value of $3,088,800.00. Following the completion of the transaction, the insider now owns 266,966 shares in the company, valued at $10,307,557.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The disclosure for this sale can be found here. Insiders sold 308,415 shares of company stock valued at $11,836,825 in the last ninety days. 0.69% of the stock is currently owned by insiders.

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Several equities research analysts have recently weighed in on the company. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price target on the stock in a research report on Tuesday. Cowen Inc reiterated a “buy” rating and set a $50.00 price target on shares of Micron Technology in a research report on Wednesday, November 1st. J P Morgan Chase & Co upped their price target on Micron Technology from $50.00 to $55.00 and gave the company an “overweight” rating in a research report on Friday, November 10th. Deutsche Bank AG reiterated a “buy” rating and set a $50.00 price target on shares of Micron Technology in a research report on Tuesday, November 7th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $64.00 price target on shares of Micron Technology in a research report on Wednesday, October 11th. One analyst has rated the stock with a sell rating, three have given a hold rating, thirty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $47.20.

Micron Technology Company Profile

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

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