Sentry Investment Management LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 8.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 67,942 shares of the semiconductor manufacturer’s stock after selling 6,030 shares during the quarter. Sentry Investment Management LLC’s holdings in Micron Technology were worth $2,808,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Gemmer Asset Management LLC increased its position in Micron Technology by 49.9% in the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 235 shares during the period. Valeo Financial Advisors LLC increased its position in Micron Technology by 73.3% in the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 300 shares during the period. Executive Wealth Management LLC acquired a new stake in Micron Technology in the fourth quarter worth about $26,000. JNBA Financial Advisors acquired a new stake in Micron Technology in the fourth quarter worth about $28,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in Micron Technology in the first quarter worth about $38,000. Institutional investors own 77.56% of the company’s stock.

In related news, EVP Scott J. Deboer sold 14,486 shares of Micron Technology 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 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 legal filing with the SEC, which can be accessed through this link. Also, SVP April S. Arnzen sold 21,182 shares of Micron Technology 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 in the company, valued at approximately $3,426,614.88. The disclosure for this sale can be found here. Insiders have sold a total of 55,878 shares of company stock worth $2,293,223 in the last quarter. 0.20% of the stock is currently owned by company insiders.

MU has been the topic of a number of recent analyst reports. Cowen raised their target price on Micron Technology to $46.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Deutsche Bank reduced their target price on Micron Technology from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Monday. Mizuho reduced their target price on Micron Technology from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, March 15th. BidaskClub upgraded Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Nomura initiated coverage on Micron Technology in a report on Tuesday, April 16th. They set a “neutral” rating and a $45.00 target price on the stock. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $55.74.

Shares of NASDAQ:MU traded down $1.03 during trading on Monday, hitting $35.04. 20,567,828 shares of the company’s stock traded hands, compared to its average volume of 22,274,276. Micron Technology, Inc. has a 52 week low of $28.39 and a 52 week high of $64.66. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.25 and a quick ratio of 1.65. The stock has a market capitalization of $39.91 billion, a PE ratio of 2.96 and a beta of 1.84.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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 business 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. Micron Technology’s revenue for the quarter was down 20.6% on a year-over-year basis. On average, research analysts expect that Micron Technology, Inc. will post 6.27 earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece of content was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The correct version of this piece of content can be viewed at https://theolympiareport.com/2019/05/20/sentry-investment-management-llc-lowers-stake-in-micron-technology-inc-mu.html.

Micron Technology Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

Read More: Investing in Blue-Chip Stocks

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.