Vaughan Nelson Investment Management L.P. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 50.7% during the second quarter, Holdings Channel reports. The firm owned 957,515 shares of the semiconductor manufacturer’s stock after selling 983,475 shares during the period. Vaughan Nelson Investment Management L.P.’s holdings in Micron Technology were worth $28,591,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of MU. Guardian Life Insurance Co. of America increased its stake in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the period. First Personal Financial Services increased its stake in shares of Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock valued at $122,000 after buying an additional 2,083 shares during the period. Washington Trust Bank increased its stake in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares during the period. Coconut Grove Bank increased its stake in shares of Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock valued at $156,000 after buying an additional 5,050 shares during the period. Finally, D. Scott Neal Inc. bought a new stake in shares of Micron Technology during the second quarter valued at about $190,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Micron Technology, Inc. (NASDAQ MU) opened at 31.82 on Thursday. Micron Technology, Inc. has a 12-month low of $13.02 and a 12-month high of $32.96. The company has a 50-day moving average of $31.21 and a 200 day moving average of $27.22. The firm has a market cap of $35.32 billion, a price-to-earnings ratio of 13.97 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company’s revenue was up 92.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.08) EPS. Equities analysts expect that Micron Technology, Inc. will post $4.71 EPS for the current fiscal year.

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MU has been the subject of several research reports. Cowen and Company restated an “outperform” rating and set a $34.00 price objective on shares of Micron Technology in a research report on Wednesday, March 22nd. Credit Suisse Group raised their price objective on shares of Micron Technology from $30.00 to $35.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 22nd. Deutsche Bank AG raised their price objective on shares of Micron Technology from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, March 24th. Instinet raised their price objective on shares of Micron Technology to $40.00 in a research report on Friday, March 24th. Finally, Robert W. Baird raised their price objective on shares of Micron Technology from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, March 24th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Buy” and an average target price of $35.65.

In other Micron Technology news, VP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $27.85, for a total value of $27,850.00. Following the sale, the vice president now owns 53,542 shares of the company’s stock, valued at approximately $1,491,144.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Brian Shirley sold 27,250 shares of the firm’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total transaction of $859,465.00. Following the completion of the sale, the senior vice president now directly owns 292,211 shares in the company, valued at approximately $9,216,334.94. The disclosure for this sale can be found here. In the last three months, insiders sold 70,492 shares of company stock worth $2,109,749. Insiders own 0.69% of the company’s stock.

About Micron Technology

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

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