Scout Investments Inc. reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 33.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 562,377 shares of the semiconductor manufacturer’s stock after selling 283,006 shares during the period. Scout Investments Inc. owned approximately 0.05% of Micron Technology worth $16,793,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Candriam Luxembourg S.C.A. raised its stake in Micron Technology by 31.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 59,042 shares of the semiconductor manufacturer’s stock valued at $1,706,000 after buying an additional 14,155 shares in the last quarter. Acadian Asset Management LLC raised its stake in Micron Technology by 519.7% in the first quarter. Acadian Asset Management LLC now owns 34,123 shares of the semiconductor manufacturer’s stock valued at $987,000 after buying an additional 28,617 shares in the last quarter. BB&T Corp acquired a new stake in Micron Technology during the first quarter valued at about $444,000. Coconut Grove Bank raised its stake in Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock valued at $156,000 after buying an additional 5,050 shares in the last quarter. Finally, Advisor Partners LLC raised its stake in Micron Technology by 23.6% in the first quarter. Advisor Partners LLC now owns 24,266 shares of the semiconductor manufacturer’s stock valued at $701,000 after buying an additional 4,640 shares in the last quarter. Hedge funds and other institutional investors own 79.33% of the company’s stock.

Shares of Micron Technology, Inc. (MU) opened at 31.5666 on Thursday. The firm has a market capitalization of $35.04 billion, a P/E ratio of 13.8632 and a beta of 1.76. Micron Technology, Inc. has a one year low of $16.14 and a one year high of $32.96. The firm’s 50-day moving average price is $29.99 and its 200-day moving average price is $28.40.

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

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Several analysts have issued reports on MU shares. Goldman Sachs Group, Inc. (The) lowered Micron Technology from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $32.00 to $30.00 in a research note on Monday, May 8th. Susquehanna Bancshares Inc restated a “positive” rating and issued a $35.00 price objective on shares of Micron Technology in a research note on Friday, May 12th. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 24th. Standpoint Research downgraded Micron Technology from a “buy” rating to a “reduce” rating in a research report on Wednesday, May 24th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $34.00 target price on shares of Micron Technology in a research report on Wednesday, May 31st. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $35.65.

In other news, VP Scott J. Deboer sold 10,000 shares of the business’s stock in a transaction dated Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the completion of the sale, the vice president now owns 150,232 shares in the company, valued at approximately $4,807,424. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $30.12, for a total transaction of $30,120.00. Following the completion of the sale, the senior vice president now owns 51,542 shares of the company’s stock, valued at approximately $1,552,445.04. The disclosure for this sale can be found here. Insiders have sold a total of 70,250 shares of company stock valued at $2,176,765 in the last quarter. 0.69% of the stock is currently owned by company insiders.

Micron Technology Company Profile

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

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