Pitcairn Co. raised its position in shares of Micron Technology Inc. (NASDAQ:MU) by 32.3% during the second quarter, Holdings Channel reports. The institutional investor owned 63,163 shares of the semiconductor manufacturer’s stock after buying an additional 15,420 shares during the period. Pitcairn Co.’s holdings in Micron Technology were worth $870,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. W.G. Shaheen & Associates DBA Whitney & Co raised its stake in shares of Micron Technology by 3.9% in the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 17,400 shares of the semiconductor manufacturer’s stock worth $239,000 after buying an additional 650 shares during the last quarter. Private Trust Co. NA raised its stake in shares of Micron Technology by 2.2% in the second quarter. Private Trust Co. NA now owns 41,578 shares of the semiconductor manufacturer’s stock worth $572,000 after buying an additional 905 shares during the last quarter. BlueMountain Capital Management LLC raised its stake in shares of Micron Technology by 5.9% in the first quarter. BlueMountain Capital Management LLC now owns 18,301 shares of the semiconductor manufacturer’s stock worth $192,000 after buying an additional 1,027 shares during the last quarter. Nordea Investment Management AB raised its stake in shares of Micron Technology by 1.2% in the second quarter. Nordea Investment Management AB now owns 115,002 shares of the semiconductor manufacturer’s stock worth $1,582,000 after buying an additional 1,402 shares during the last quarter. Finally, Donald L. Hagan LLC raised its stake in shares of Micron Technology by 11.5% in the second quarter. Donald L. Hagan LLC now owns 16,828 shares of the semiconductor manufacturer’s stock worth $232,000 after buying an additional 1,738 shares during the last quarter. 82.25% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Micron Technology Inc. (NASDAQ:MU) traded down 0.18% during midday trading on Tuesday, reaching $16.92. 17,775,812 shares of the company were exchanged. The stock’s 50-day moving average price is $15.96 and its 200-day moving average price is $12.74. Micron Technology Inc. has a 52-week low of $9.31 and a 52-week high of $19.30. The company has a market capitalization of $17.57 billion, a PE ratio of 48.62 and a beta of 1.81.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. The company had revenue of $2.90 billion for the quarter. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The business’s revenue for the quarter was down 24.8% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. Analysts anticipate that Micron Technology Inc. will post ($0.02) EPS for the current year.

A number of analysts recently issued reports on MU shares. Cleveland Research upgraded Micron Technology from a “neutral” rating to a “buy” rating in a report on Friday. Nomura boosted their price target on Micron Technology from $16.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, August 25th. Pacific Crest reiterated an “equal weight” rating on shares of Micron Technology in a report on Monday, September 12th. Deutsche Bank AG reiterated a “buy” rating and issued a $20.00 price target on shares of Micron Technology in a report on Friday. Finally, Vetr lowered Micron Technology from a “strong-buy” rating to a “buy” rating and set a $18.10 price target for the company. in a report on Wednesday, August 31st. Four analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-eight have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $17.63.

In other news, VP Brian Shirley sold 48,750 shares of the stock in a transaction on Tuesday, July 5th. The shares were sold at an average price of $12.37, for a total value of $603,037.50. Following the completion of the sale, the vice president now owns 381,264 shares of the company’s stock, valued at $4,716,235.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Scott J. Deboer sold 31,500 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $17.05, for a total transaction of $537,075.00. Following the completion of the sale, the vice president now directly owns 207,265 shares of the company’s stock, valued at approximately $3,533,868.25. The disclosure for this sale can be found here. 0.85% of the stock is currently owned by insiders.

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