Micron Technology, Inc. (MU) Stake Cut by Federated Investors Inc. PA

Federated Investors Inc. PA reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,596 shares of the semiconductor manufacturer’s stock after selling 1,859 shares during the period. Federated Investors Inc. PA’s holdings in Micron Technology were worth $495,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Micron Technology by 7.6% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,116 shares of the semiconductor manufacturer’s stock valued at $109,000 after buying an additional 433 shares during the last quarter. BKS Advisors LLC acquired a new stake in shares of Micron Technology during the third quarter valued at $125,000. Penserra Capital Management LLC boosted its stake in shares of Micron Technology by 99.8% in the third quarter. Penserra Capital Management LLC now owns 8,002 shares of the semiconductor manufacturer’s stock valued at $142,000 after buying an additional 3,996 shares during the last quarter. Global X Management Co. LLC boosted its stake in shares of Micron Technology by 106.0% in the third quarter. Global X Management Co. LLC now owns 8,967 shares of the semiconductor manufacturer’s stock valued at $159,000 after buying an additional 4,615 shares during the last quarter. Finally, Rothschild Investment Corp IL boosted its stake in shares of Micron Technology by 1.3% in the third quarter. Rothschild Investment Corp IL now owns 11,159 shares of the semiconductor manufacturer’s stock valued at $198,000 after buying an additional 139 shares during the last quarter. Institutional investors and hedge funds own 81.43% of the company’s stock.

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

Shares of Micron Technology, Inc. (NASDAQ:MU) traded down 2.414% during midday trading on Friday, hitting $27.285. 4,118,990 shares of the company’s stock were exchanged. The firm has a market cap of $30.19 billion, a PE ratio of 42.500 and a beta of 1.93. Micron Technology, Inc. has a one year low of $9.35 and a one year high of $29.87. The stock’s 50-day moving average price is $26.96 and its 200 day moving average price is $22.16.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.06. The firm had revenue of $4.65 billion for the quarter, compared to analyst estimates of $4.65 billion. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. Micron Technology’s revenue was up 58.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 earnings per share. Equities research analysts forecast that Micron Technology, Inc. will post $4.28 EPS for the current year.

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MU has been the subject of a number of analyst reports. Needham & Company LLC reissued a “buy” rating and set a $33.00 target price on shares of Micron Technology in a research report on Thursday, February 2nd. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $25.93 target price for the company in a research report on Thursday, February 2nd. Susquehanna Bancshares Inc reissued a “positive” rating and set a $35.00 target price (up previously from $31.00) on shares of Micron Technology in a research report on Monday, March 27th. Cowen and Company increased their target price on shares of Micron Technology from $23.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, December 22nd. Finally, Instinet reaffirmed a “buy” rating and issued a $28.00 price target (up previously from $25.00) on shares of Micron Technology in a report on Monday, December 26th. Two research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $31.25.

In related news, VP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $28.95, for a total value of $28,950.00. Following the transaction, the vice president now owns 54,542 shares of the company’s stock, valued at approximately $1,578,990.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP April S. Arnzen sold 10,638 shares of Micron Technology stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $28.95, for a total value of $307,970.10. Following the completion of the transaction, the vice president now directly owns 57,792 shares in the company, valued at approximately $1,673,078.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 354,388 shares of company stock worth $9,500,740. 0.69% of the stock is owned by corporate insiders.

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