Canada Pension Plan Investment Board decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 20.9% during the second quarter, Holdings Channel reports. The fund owned 1,486,209 shares of the semiconductor manufacturer’s stock after selling 391,579 shares during the period. Canada Pension Plan Investment Board’s holdings in Micron Technology were worth $44,378,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares during the last quarter. Janus Capital Management LLC raised its stake in Micron Technology by 232.4% in the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock worth $161,085,000 after buying an additional 3,896,978 shares during the last quarter. Westpac Banking Corp raised its stake in Micron Technology by 790.9% in the first quarter. Westpac Banking Corp now owns 3,656,771 shares of the semiconductor manufacturer’s stock worth $113,251,000 after buying an additional 3,246,321 shares during the last quarter. CIBC World Markets Inc. raised its stake in Micron Technology by 2,661.9% in the first quarter. CIBC World Markets Inc. now owns 2,687,100 shares of the semiconductor manufacturer’s stock worth $77,657,000 after buying an additional 2,589,807 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Micron Technology by 64.4% in the first quarter. AQR Capital Management LLC now owns 5,823,890 shares of the semiconductor manufacturer’s stock worth $168,310,000 after buying an additional 2,281,331 shares during the last quarter. Hedge funds and other institutional investors own 80.44% of the company’s stock.

Shares of Micron Technology, Inc. (NASDAQ:MU) opened at 27.49 on Friday. Micron Technology, Inc. has a 52-week low of $14.43 and a 52-week high of $32.96. The stock has a market cap of $30.51 billion, a PE ratio of 12.07 and a beta of 1.76. The company’s 50-day moving average price is $30.35 and its 200-day moving average price is $27.93.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. Micron Technology’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.08) earnings per share. Analysts expect that Micron Technology, Inc. will post $4.71 earnings per share for the current year.

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A number of equities analysts recently issued reports on MU shares. Morgan Stanley upped their price target on Micron Technology from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $33.00 price target (up from $30.00) on shares of Micron Technology in a report on Friday, June 30th. Standpoint Research downgraded Micron Technology from a “buy” rating to a “reduce” rating in a report on Wednesday, May 24th. BidaskClub downgraded Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research downgraded Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $35.65.

In related news, VP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the transaction, the vice president now directly owns 150,232 shares of the company’s stock, valued at $4,807,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP April S. Arnzen sold 1,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total value of $30,750.00. Following the transaction, the vice president now directly owns 52,542 shares in the company, valued at $1,615,666.50. The disclosure for this sale can be found here. Insiders have sold 46,250 shares of company stock worth $1,442,015 over the last ninety days. 0.69% of the stock is owned by insiders.

Micron Technology Company Profile

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

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