MARSHALL WACE ASIA Ltd lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 39.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,201,200 shares of the semiconductor manufacturer’s stock after purchasing an additional 623,964 shares during the period. Micron Technology accounts for about 2.7% of MARSHALL WACE ASIA Ltd’s holdings, making the stock its 11th biggest position. MARSHALL WACE ASIA Ltd’s holdings in Micron Technology were worth $90,975,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Berman Capital Advisors LLC raised its holdings in Micron Technology by 56.7% during the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 255 shares during the last quarter. Gemmer Asset Management LLC increased its position in Micron Technology by 49.9% during the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 235 shares during the period. Valeo Financial Advisors LLC increased its position in Micron Technology by 73.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after purchasing an additional 300 shares during the period. Executive Wealth Management LLC purchased a new position in Micron Technology during the 4th quarter valued at $26,000. Finally, Citizens Financial Group Inc RI purchased a new position in Micron Technology during the 1st quarter valued at $37,000. 77.05% of the stock is currently owned by institutional investors.

In other news, EVP Scott J. Deboer sold 14,486 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $42.88, for a total value of $621,159.68. Following the transaction, the executive vice president now owns 150,236 shares in the company, valued at approximately $6,442,119.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP April S. Arnzen sold 21,182 shares of the stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total transaction of $834,358.98. Following the completion of the transaction, 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. Insiders have sold a total of 55,878 shares of company stock worth $2,293,223 in the last 90 days. Company insiders own 0.20% of the company’s stock.

MU traded down $0.83 during midday trading on Friday, hitting $32.55. 684,239 shares of the company traded hands, compared to its average volume of 24,049,874. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.65 and a current ratio of 2.25. The stock has a market capitalization of $36.48 billion, a P/E ratio of 2.75 and a beta of 1.94. Micron Technology, Inc. has a 52 week low of $28.39 and a 52 week high of $61.83.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.04. The business 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 business’s revenue for the quarter was down 20.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.82 EPS. Research analysts forecast that Micron Technology, Inc. will post 6.09 EPS for the current fiscal year.

MU has been the topic of a number of recent research reports. BidaskClub downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Summit Insights raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Royal Bank of Canada initiated coverage on shares of Micron Technology in a research report on Thursday, March 28th. They issued an “outperform” rating and a $50.00 target price on the stock. Citigroup downgraded shares of Micron Technology from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $35.00 to $30.00 in a research report on Thursday, March 21st. Finally, Cross Research downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Friday, March 15th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty have issued a buy rating to the stock. Micron Technology currently has an average rating of “Hold” and a consensus price target of $50.89.

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Micron Technology Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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

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