First Trust Advisors LP cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.7% during the 4th quarter, HoldingsChannel reports. The fund owned 2,887,383 shares of the semiconductor manufacturer’s stock after selling 19,770 shares during the quarter. First Trust Advisors LP’s holdings in Micron Technology were worth $118,729,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. SevenBridge Financial Group LLC lifted its holdings in shares of Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after acquiring an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after acquiring an additional 1,252 shares during the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Micron Technology by 12.5% in the third quarter. First Republic Investment Management Inc. now owns 11,960 shares of the semiconductor manufacturer’s stock worth $470,000 after acquiring an additional 1,329 shares during the last quarter. Buffington Mohr McNeal lifted its holdings in shares of Micron Technology by 2.2% in the third quarter. Buffington Mohr McNeal now owns 63,648 shares of the semiconductor manufacturer’s stock worth $2,600,000 after acquiring an additional 1,400 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in shares of Micron Technology by 5.0% in the third quarter. D.A. Davidson & CO. now owns 30,175 shares of the semiconductor manufacturer’s stock worth $1,186,000 after acquiring an additional 1,425 shares during the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.

Shares of Micron Technology, Inc. (MU) opened at $42.63 on Wednesday. The company has a market cap of $48,784.93, a P/E ratio of 6.71, a PEG ratio of 0.42 and a beta of 1.62. Micron Technology, Inc. has a 52-week low of $22.64 and a 52-week high of $49.89. The company has a current ratio of 2.39, a quick ratio of 1.83 and a debt-to-equity ratio of 0.33.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping the consensus estimate of $1.85 by $0.60. The company had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The company’s quarterly revenue was up 71.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.32 EPS. research analysts expect that Micron Technology, Inc. will post 10.12 earnings per share for the current year.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $41.38, for a total transaction of $124,140.00. Following the transaction, the director now directly owns 116,699 shares in the company, valued at approximately $4,829,004.62. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the firm’s stock in a transaction on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The disclosure for this sale can be found here. In the last three months, insiders sold 173,470 shares of company stock valued at $7,420,480. 0.53% of the stock is currently owned by insiders.

A number of research analysts have recently commented on the stock. Vetr cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price for the company. in a report on Friday, November 17th. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. JPMorgan Chase & Co. increased their target price on shares of Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a report on Friday, November 10th. UBS Group reiterated a “buy” rating and issued a $53.00 price objective (up previously from $39.50) on shares of Micron Technology in a report on Thursday, October 19th. They noted that the move was a valuation call. Finally, KeyCorp reiterated a “hold” rating on shares of Micron Technology in a report on Friday, October 27th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $55.80.

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Micron Technology Company Profile

Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.

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

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