First Merchants Corp continued to hold its position in shares of Micron Technology, Inc. (NASDAQ:MU) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,000 shares of the semiconductor manufacturer’s stock at the end of the second quarter. First Merchants Corp’s holdings in Micron Technology were worth $269,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Guardian Life Insurance Co. of America increased its position in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares in the last quarter. Washington Trust Bank increased its position in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares in the last quarter. Winslow Evans & Crocker Inc. increased its position in shares of Micron Technology by 0.5% in the first quarter. Winslow Evans & Crocker Inc. now owns 21,400 shares of the semiconductor manufacturer’s stock worth $618,000 after buying an additional 100 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock worth $359,000 after buying an additional 170 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its position in shares of Micron Technology by 0.5% in the first quarter. Ameritas Investment Partners Inc. now owns 43,675 shares of the semiconductor manufacturer’s stock worth $1,262,000 after buying an additional 203 shares in the last quarter. Institutional investors and hedge funds own 80.44% of the company’s stock.

Micron Technology, Inc. (NASDAQ MU) traded up 1.89% during mid-day trading on Friday, hitting $28.01. 23,375,939 shares of the stock were exchanged. The company has a 50-day moving average price of $30.24 and a 200-day moving average price of $27.97. Micron Technology, Inc. has a one year low of $15.08 and a one year high of $32.96. The company has a market cap of $31.09 billion, a P/E ratio of 12.30 and a beta of 1.76.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’s quarterly revenue was up 92.2% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post $4.71 earnings per share for the current fiscal year.

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A number of equities research analysts recently commented on the stock. UBS AG reissued an “average” rating and issued a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Cowen and Company reissued a “buy” rating on shares of Micron Technology in a research note on Thursday. Macquarie reissued an “outperform” rating and issued a $35.00 price objective on shares of Micron Technology in a research note on Wednesday, June 14th. Standpoint Research cut shares of Micron Technology from a “buy” rating to a “reduce” rating in a research note on Wednesday, May 24th. Finally, BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Buy” and a consensus target price of $35.65.

In related news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $28.47, for a total value of $85,410.00. Following the completion of the transaction, the director now directly owns 120,284 shares in the company, valued at $3,424,485.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP April S. Arnzen sold 1,000 shares of the company’s stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total value of $30,750.00. Following the completion of the transaction, the vice president now owns 52,542 shares of the company’s stock, valued at $1,615,666.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,250 shares of company stock valued at $1,442,015. Corporate insiders own 0.69% of the company’s stock.

About Micron Technology

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

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