Hodges Capital Management Inc. trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 20.2% during the first quarter, HoldingsChannel.com reports. The fund owned 260,963 shares of the semiconductor manufacturer’s stock after selling 66,165 shares during the quarter. Micron Technology accounts for about 1.1% of Hodges Capital Management Inc.’s holdings, making the stock its 26th largest position. Hodges Capital Management Inc.’s holdings in Micron Technology were worth $10,786,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in MU. Executive Wealth Management LLC bought a new stake in Micron Technology in the fourth quarter valued at $26,000. JNBA Financial Advisors bought a new stake in Micron Technology in the fourth quarter valued at $28,000. Lavaca Capital LLC bought a new stake in Micron Technology in the fourth quarter valued at $29,000. Athena Capital Advisors LLC bought a new stake in Micron Technology in the fourth quarter valued at $29,000. Finally, Valeo Financial Advisors LLC grew its position in Micron Technology by 73.3% in the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 77.21% of the company’s stock.

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

A number of equities analysts have commented on the company. Needham & Company LLC lowered Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. KeyCorp reduced their price objective on Micron Technology from $61.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 19th. BidaskClub raised Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, January 25th. Citigroup lowered Micron Technology from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $35.00 to $30.00 in a research note on Thursday, March 21st. Finally, Piper Jaffray Companies reduced their price objective on Micron Technology to $36.00 and set a “neutral” rating on the stock in a research note 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’s stock. The company presently has an average rating of “Hold” and a consensus price target of $56.59.

NASDAQ MU traded down $0.19 on Monday, reaching $41.82. The company had a trading volume of 16,049,442 shares, compared to its average volume of 32,574,557. The company has a market capitalization of $46.79 billion, a PE ratio of 3.54, a P/E/G ratio of 1.06 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, Inc. has a 52 week low of $28.39 and a 52 week high of $64.66.

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

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About Micron Technology

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.

Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks

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

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