Vident Investment Advisory LLC Cuts Holdings in Micron Technology, Inc. (MU)

Vident Investment Advisory LLC cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,211 shares of the semiconductor manufacturer’s stock after selling 23,212 shares during the period. Vident Investment Advisory LLC’s holdings in Micron Technology were worth $3,391,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. SevenBridge Financial Group LLC raised its position in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after acquiring an additional 1,190 shares during the period. Captrust Financial Advisors acquired a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $107,000. Jacobi Capital Management LLC raised its position in shares of Micron Technology by 368.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after acquiring an additional 2,600 shares during the period. Krilogy Financial LLC raised its position in shares of Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after acquiring an additional 4,350 shares during the period. Finally, MPS Loria Financial Planners LLC acquired a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $142,000. Institutional investors own 81.16% of the company’s stock.

In related news, EVP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the transaction, the executive vice president now directly owns 140,232 shares of the company’s stock, valued at $4,767,888. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $39.86, for a total transaction of $119,580.00. Following the completion of the transaction, the director now directly owns 114,284 shares of the company’s stock, valued at $4,555,360.24. The disclosure for this sale can be found here. Insiders have sold a total of 308,088 shares of company stock valued at $11,852,538 over the last ninety days. Company insiders own 0.69% of the company’s stock.

Micron Technology, Inc. (MU) opened at $43.21 on Friday. The firm has a market cap of $49,820.62, a P/E ratio of 9.73, a PEG ratio of 0.58 and a beta of 1.75. Micron Technology, Inc. has a 52 week low of $19.49 and a 52 week high of $49.89. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34.

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

A number of analysts recently issued reports on the company. Zacks Investment Research cut Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. Morgan Stanley increased their target price on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 27th. Robert W. Baird reissued an “outperform” rating and set a $60.00 target price (up from $52.00) on shares of Micron Technology in a research note on Tuesday, November 28th. Vetr raised Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 target price for the company in a research note on Tuesday, November 21st. Finally, Cowen reissued a “buy” rating and set a $50.00 target price on shares of Micron Technology in a research note on Wednesday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have given a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $48.20.

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Micron Technology Company Profile

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

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