Micron Technology, Inc. (MU) Holdings Cut by HBK Sorce Advisory LLC

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HBK Sorce Advisory LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,602 shares of the semiconductor manufacturer’s stock after selling 2,332 shares during the period. HBK Sorce Advisory LLC’s holdings in Micron Technology were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cedar Capital LLC bought a new position in Micron Technology during the third quarter worth about $242,000. Harvest Fund Management Co. Ltd boosted its holdings in Micron Technology by 83.6% during the third quarter. Harvest Fund Management Co. Ltd now owns 3,622 shares of the semiconductor manufacturer’s stock worth $164,000 after buying an additional 1,649 shares during the last quarter. Redpoint Investment Management Pty Ltd boosted its holdings in Micron Technology by 3.2% during the second quarter. Redpoint Investment Management Pty Ltd now owns 151,404 shares of the semiconductor manufacturer’s stock worth $7,940,000 after buying an additional 4,694 shares during the last quarter. Zacks Investment Management boosted its holdings in Micron Technology by 0.3% during the second quarter. Zacks Investment Management now owns 415,827 shares of the semiconductor manufacturer’s stock worth $21,806,000 after buying an additional 1,387 shares during the last quarter. Finally, Usca Ria LLC boosted its holdings in Micron Technology by 16.8% during the second quarter. Usca Ria LLC now owns 18,980 shares of the semiconductor manufacturer’s stock worth $995,000 after buying an additional 2,730 shares during the last quarter. Hedge funds and other institutional investors own 74.34% of the company’s stock.

A number of equities analysts have issued reports on MU shares. Macquarie set a $70.00 target price on Micron Technology and gave the stock a “buy” rating in a report on Friday, September 21st. Cowen set a $62.00 price objective on Micron Technology and gave the company a “buy” rating in a report on Thursday, October 11th. ValuEngine cut Micron Technology from a “sell” rating to a “strong sell” rating in a report on Monday, November 12th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $84.00 price objective on shares of Micron Technology in a report on Wednesday, September 19th. Finally, Morgan Stanley cut their price objective on Micron Technology from $65.00 to $48.00 and set an “equal weight” rating on the stock in a report on Friday, September 21st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $63.70.

NASDAQ MU opened at $34.20 on Friday. The company has a market capitalization of $38.31 billion, a price-to-earnings ratio of 2.89, a PEG ratio of 0.56 and a beta of 1.63. The company has a current ratio of 2.79, a quick ratio of 2.16 and a debt-to-equity ratio of 0.11. Micron Technology, Inc. has a 52 week low of $33.82 and a 52 week high of $64.66.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The firm had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.25 billion. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. The business’s quarterly revenue was up 37.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.02 EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 9.59 EPS for the current year.

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Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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