Micron Technology, Inc. (MU) Position Decreased by Everence Capital Management Inc.

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Everence Capital Management Inc. reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,260 shares of the semiconductor manufacturer’s stock after selling 4,592 shares during the quarter. Everence Capital Management Inc.’s holdings in Micron Technology were worth $837,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. James Investment Research Inc. raised its position in Micron Technology by 4.9% in the fourth quarter. James Investment Research Inc. now owns 394,680 shares of the semiconductor manufacturer’s stock worth $12,524,000 after acquiring an additional 18,522 shares in the last quarter. Nissay Asset Management Corp Japan ADV raised its position in Micron Technology by 7.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 165,535 shares of the semiconductor manufacturer’s stock worth $5,252,000 after acquiring an additional 11,645 shares in the last quarter. Gabalex Capital Management LLC raised its position in Micron Technology by 200.0% in the fourth quarter. Gabalex Capital Management LLC now owns 300,000 shares of the semiconductor manufacturer’s stock worth $9,519,000 after acquiring an additional 200,000 shares in the last quarter. Connable Office Inc. raised its position in Micron Technology by 54.3% in the fourth quarter. Connable Office Inc. now owns 60,563 shares of the semiconductor manufacturer’s stock worth $1,922,000 after acquiring an additional 21,316 shares in the last quarter. Finally, Financial Gravity Wealth Inc. bought a new stake in Micron Technology in the first quarter worth about $55,000. Institutional investors and hedge funds own 77.56% of the company’s stock.

MU has been the topic of a number of analyst reports. UBS Group lifted their price target on Micron Technology to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and issued a $75.00 price target on shares of Micron Technology in a research note on Tuesday, March 19th. Cowen lifted their price target on Micron Technology to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Summit Redstone raised Micron Technology to a “buy” rating in a research note on Thursday, March 21st. Finally, ValuEngine cut Micron Technology from a “hold” rating to a “sell” rating in a research note on Tuesday, March 5th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Micron Technology currently has an average rating of “Hold” and a consensus price target of $55.85.

In related news, EVP Scott J. Deboer sold 14,486 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $42.88, for a total value of $621,159.68. Following the completion of the sale, the executive vice president now owns 150,236 shares of the company’s stock, valued at approximately $6,442,119.68. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP April S. Arnzen sold 21,182 shares of the business’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total value of $834,358.98. Following the completion of the sale, the senior vice president now directly owns 86,992 shares of the company’s stock, valued at approximately $3,426,614.88. The disclosure for this sale can be found here. In the last three months, insiders sold 55,878 shares of company stock valued at $2,293,223. 0.20% of the stock is currently owned by company insiders.

NASDAQ:MU opened at $38.04 on Wednesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.65 and a current ratio of 2.25. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $64.66. The stock has a market cap of $41.37 billion, a price-to-earnings ratio of 3.22 and a beta of 1.84.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.67 by $0.04. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The company had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same quarter in the previous year, the business posted $2.82 EPS. The business’s revenue for the quarter was down 20.6% on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.27 earnings per share for the current fiscal year.

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Micron Technology 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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