Malaga Cove Capital LLC reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 1.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 23,673 shares of the semiconductor manufacturer’s stock after selling 400 shares during the quarter. Malaga Cove Capital LLC’s holdings in Micron Technology were worth $978,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of MU. Oregon Public Employees Retirement Fund boosted its holdings in shares of Micron Technology by 4,548.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 28,730,753 shares of the semiconductor manufacturer’s stock worth $905,000 after purchasing an additional 28,112,651 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Micron Technology by 75.5% during the third quarter. AQR Capital Management LLC now owns 28,530,556 shares of the semiconductor manufacturer’s stock worth $1,290,438,000 after purchasing an additional 12,269,445 shares during the period. Norges Bank acquired a new stake in shares of Micron Technology during the fourth quarter worth approximately $365,896,000. Sanders Capital LLC acquired a new stake in shares of Micron Technology during the fourth quarter worth approximately $159,335,000. Finally, Two Sigma Advisers LP boosted its holdings in shares of Micron Technology by 517.9% during the fourth quarter. Two Sigma Advisers LP now owns 2,291,656 shares of the semiconductor manufacturer’s stock worth $72,714,000 after purchasing an additional 1,920,800 shares during the period. Institutional investors and hedge funds own 77.21% of the company’s stock.

In other news, 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 value of $834,358.98. Following the transaction, the senior vice president now owns 86,992 shares of the company’s stock, valued at $3,426,614.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, 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 completion of the transaction, the executive vice president now directly owns 150,236 shares in the company, valued at approximately $6,442,119.68. The disclosure for this sale can be found here. Company insiders own 0.20% of the company’s stock.

Several research firms recently commented on MU. Needham & Company LLC restated a “hold” rating on shares of Micron Technology in a report on Thursday, March 21st. BidaskClub upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Zacks Investment Research upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Morgan Stanley cut shares of Micron Technology from an “equal weight” rating to an “underweight” rating and set a $32.00 price target for the company. in a report on Thursday, April 4th. Finally, Cowen cut shares of Micron Technology from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $46.00 to $45.00 in a report on Monday. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $56.59.

Shares of NASDAQ:MU traded up $0.24 during trading on Thursday, reaching $42.42. The stock had a trading volume of 13,887,097 shares, compared to its average volume of 32,398,196. Micron Technology, Inc. has a 52 week low of $28.39 and a 52 week high of $64.66. The firm has a market cap of $46.67 billion, a price-to-earnings ratio of 3.59, a P/E/G ratio of 1.05 and a beta of 1.87. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.10.

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

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

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