Gabalex Capital Management LLC Sells 25,000 Shares of Micron Technology, Inc. (NASDAQ:MU)

Gabalex Capital Management LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the semiconductor manufacturer’s stock after selling 25,000 shares during the period. Micron Technology accounts for about 1.5% of Gabalex Capital Management LLC’s investment portfolio, making the stock its 20th largest position. Gabalex Capital Management LLC’s holdings in Micron Technology were worth $5,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in MU. Sigma Planning Corp grew its holdings in shares of Micron Technology by 9.5% in the second quarter. Sigma Planning Corp now owns 32,391 shares of the semiconductor manufacturer’s stock valued at $1,250,000 after purchasing an additional 2,803 shares in the last quarter. Stephens Inc. AR grew its holdings in shares of Micron Technology by 7.0% in the second quarter. Stephens Inc. AR now owns 20,584 shares of the semiconductor manufacturer’s stock valued at $794,000 after purchasing an additional 1,351 shares in the last quarter. TRUE Private Wealth Advisors purchased a new position in shares of Micron Technology in the second quarter valued at $119,000. DekaBank Deutsche Girozentrale grew its holdings in shares of Micron Technology by 1.7% in the second quarter. DekaBank Deutsche Girozentrale now owns 484,904 shares of the semiconductor manufacturer’s stock valued at $18,658,000 after purchasing an additional 8,282 shares in the last quarter. Finally, Advisory Services Network LLC grew its holdings in shares of Micron Technology by 13.4% in the second quarter. Advisory Services Network LLC now owns 42,741 shares of the semiconductor manufacturer’s stock valued at $1,649,000 after purchasing an additional 5,039 shares in the last quarter. Hedge funds and other institutional investors own 77.42% of the company’s stock.

Shares of MU traded down $0.47 during trading hours on Thursday, reaching $41.57. 1,330,169 shares of the company traded hands, compared to its average volume of 29,181,244. The stock has a market capitalization of $46.50 billion, a price-to-earnings ratio of 3.52 and a beta of 1.96. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $53.68. The company has a current ratio of 2.79, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10. The stock has a fifty day moving average of $43.01.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30. The firm had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.70 billion. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The business’s revenue was down 38.6% on a year-over-year basis. During the same period in the previous year, the firm earned $3.15 earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 6.06 earnings per share for the current year.

MU has been the subject of several recent analyst reports. Mizuho reaffirmed a “hold” rating and set a $44.00 price objective on shares of Micron Technology in a research note on Thursday, July 11th. Needham & Company LLC raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Wednesday, June 26th. Zacks Investment Research raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Stifel Nicolaus dropped their price objective on shares of Micron Technology from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Finally, Nomura dropped their price objective on shares of Micron Technology from $45.00 to $32.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $48.27.

In related news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the sale, the executive vice president now directly owns 130,236 shares in the company, valued at $5,860,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP April S. Arnzen sold 4,800 shares of Micron Technology stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $45.00, for a total value of $216,000.00. Following the completion of the sale, the senior vice president now owns 79,392 shares of the company’s stock, valued at $3,572,640. The disclosure for this sale can be found here. Insiders have sold 57,244 shares of company stock valued at $2,624,899 over the last three months. Insiders own 0.20% of the company’s stock.

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.

Featured Story: How do buyers and sellers choose a strike price?

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.