People s United Financial Inc. lowered its holdings in Micron Technology, Inc. (NASDAQ:MU) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,734 shares of the semiconductor manufacturer’s stock after selling 578 shares during the quarter. People s United Financial Inc.’s holdings in Micron Technology were worth $320,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Captrust Financial Advisors bought a new position in Micron Technology during the 2nd quarter valued at $107,000. Guardian Life Insurance Co. of America lifted its stake in Micron Technology by 0.3% during the 1st quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after acquiring an additional 13 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in Micron Technology during the 2nd quarter valued at $141,000. FNY Managed Accounts LLC lifted its stake in Micron Technology by 478.0% during the 2nd quarter. FNY Managed Accounts LLC now owns 5,000 shares of the semiconductor manufacturer’s stock valued at $149,000 after acquiring an additional 4,135 shares in the last quarter. Finally, D. Scott Neal Inc. bought a new position in Micron Technology during the 2nd quarter valued at $190,000. 79.32% of the stock is owned by institutional investors and hedge funds.

In other Micron Technology news, SVP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total transaction of $28,220.00. Following the completion of the sale, the senior vice president now directly owns 50,542 shares of the company’s stock, valued at approximately $1,426,295.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the sale, the senior vice president now directly owns 289,940 shares of the company’s stock, valued at $11,046,714. The disclosure for this sale can be found here. Insiders have sold a total of 314,715 shares of company stock valued at $11,480,040 over the last three months. 0.69% of the stock is owned by corporate insiders.

Shares of Micron Technology, Inc. (MU) opened at 39.67 on Friday. Micron Technology, Inc. has a 12 month low of $16.17 and a 12 month high of $40.54. The firm has a 50-day moving average price of $34.37 and a 200 day moving average price of $30.61. The company has a market cap of $43.99 billion, a P/E ratio of 9.00 and a beta of 1.82.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same period last year, the company earned ($0.01) EPS. Micron Technology’s quarterly revenue was up 90.8% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post $7.55 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This piece was posted by Watch List News and is owned by of Watch List News. If you are reading this piece on another site, it was stolen and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this piece can be read at https://www.watchlistnews.com/people-s-united-financial-inc-trims-position-in-micron-technology-inc-mu/1617589.html.

MU has been the topic of several recent analyst reports. UBS AG restated an “average” rating and set a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Needham & Company LLC restated a “buy” rating and set a $50.00 price objective on shares of Micron Technology in a research note on Friday, June 30th. BidaskClub cut Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Mizuho reiterated a “buy” rating and set a $35.00 target price on shares of Micron Technology in a research note on Friday, June 16th. Finally, Loop Capital reiterated a “buy” rating and set a $40.00 target price (up from $35.00) on shares of Micron Technology in a research note on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Micron Technology has a consensus rating of “Buy” and a consensus target price of $44.41.

About Micron Technology

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.