Cornerstone Capital Management Holdings LLC. lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 15.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,206,867 shares of the semiconductor manufacturer’s stock after selling 218,930 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned approximately 0.10% of Micron Technology worth $47,465,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC increased its position in Micron Technology by 43.1% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 39,261 shares of the semiconductor manufacturer’s stock worth $1,172,000 after buying an additional 11,828 shares during the period. HL Financial Services LLC increased its position in Micron Technology by 85.3% during the 2nd quarter. HL Financial Services LLC now owns 19,549 shares of the semiconductor manufacturer’s stock worth $584,000 after buying an additional 9,000 shares during the period. Trexquant Investment LP bought a new position in Micron Technology during the 2nd quarter worth $2,210,000. Wetherby Asset Management Inc. increased its position in Micron Technology by 1.0% during the 2nd quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $457,000 after buying an additional 154 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its position in Micron Technology by 1.6% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 3,473,699 shares of the semiconductor manufacturer’s stock worth $103,725,000 after buying an additional 54,056 shares during the period. 81.16% of the stock is owned by institutional investors.

In other news, insider Joel L. Poppen sold 80,000 shares of Micron Technology stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the sale, the insider now directly owns 266,966 shares of the company’s stock, valued at $10,307,557.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $41.38, for a total value of $124,140.00. Following the sale, the director now directly owns 116,699 shares in the company, valued at $4,829,004.62. The disclosure for this sale can be found here. Insiders have sold 308,088 shares of company stock worth $11,852,538 over the last three months. Insiders own 0.69% of the company’s stock.

Several research firms have weighed in on MU. Goldman Sachs Group upgraded Micron Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $40.00 in a research report on Tuesday, September 12th. Susquehanna Bancshares increased their price objective on Micron Technology from $40.00 to $50.00 and gave the stock a “positive” rating in a research report on Tuesday, September 19th. UBS reiterated a “buy” rating and set a $53.00 price objective (up previously from $39.50) on shares of Micron Technology in a research report on Thursday, October 19th. They noted that the move was a valuation call. Deutsche Bank reiterated a “buy” rating and set a $37.00 price objective on shares of Micron Technology in a research report on Wednesday, September 6th. Finally, Macquarie reiterated an “outperform” rating and set a $38.00 price objective on shares of Micron Technology in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and two have given a strong buy rating to the stock. Micron Technology currently has an average rating of “Buy” and an average target price of $48.20.

Shares of Micron Technology, Inc. (NASDAQ MU) opened at $43.20 on Friday. The firm has a market capitalization of $47,952.34, a PE ratio of 9.36, a P/E/G ratio of 0.56 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. Micron Technology, Inc. has a 12 month low of $19.49 and a 12 month high of $49.89.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.18. The business had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. Micron Technology’s revenue was up 90.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. equities analysts predict that Micron Technology, Inc. will post 7.42 EPS for the current fiscal year.

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About Micron Technology

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

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