Hennessy Advisors Inc. reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 63,500 shares of the semiconductor manufacturer’s stock after selling 1,100 shares during the quarter. Hennessy Advisors Inc.’s holdings in Micron Technology were worth $2,624,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Executive Wealth Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $26,000. JNBA Financial Advisors purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $28,000. Lavaca Capital LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $29,000. Athena Capital Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $29,000. Finally, Intercontinental Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $31,000. Institutional investors and hedge funds own 77.21% of the company’s stock.

In other news, EVP Scott J. Deboer sold 14,486 shares of Micron Technology stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $42.88, for a total transaction of $621,159.68. Following the sale, the executive vice president now owns 150,236 shares in the company, valued at $6,442,119.68. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP April S. Arnzen sold 21,182 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total transaction of $834,358.98. Following the sale, the senior vice president now owns 86,992 shares in the company, valued at approximately $3,426,614.88. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

A number of research firms recently issued reports on MU. Goldman Sachs Group raised shares of Micron Technology to a “neutral” rating and dropped their price objective for the stock from $45.00 to $44.00 in a report on Tuesday, December 11th. Zacks Investment Research downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a report on Thursday, December 13th. Cowen reissued an “outperform” rating and issued a $45.00 price objective (down previously from $62.00) on shares of Micron Technology in a report on Monday, December 17th. Bank of America set a $55.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a report on Monday, December 17th. Finally, Royal Bank of Canada downgraded shares of Micron Technology from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $59.00 to $40.00 in a report on Wednesday, December 19th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty-one have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $56.59.

NASDAQ MU opened at $41.72 on Wednesday. Micron Technology, Inc. has a 12 month low of $28.39 and a 12 month high of $64.66. The company has a market cap of $47.94 billion, a price-to-earnings ratio of 3.53, a PEG ratio of 1.09 and a beta of 1.87. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.10.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.04. The firm had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.82 billion. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The company’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 earnings per share. As a group, analysts expect that Micron Technology, Inc. will post 6.27 earnings per share for the current year.

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Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions 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 Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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