Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, Holdings Channel reports. The fund acquired 899,020 shares of the semiconductor manufacturer’s stock, valued at approximately $28,239,000. Micron Technology accounts for about 1.3% of Meag Munich Ergo Kapitalanlagegesellschaft MBH’s holdings, making the stock its 10th largest position.

Other large investors have also recently bought and sold shares of the company. Quantitative Systematic Strategies LLC boosted its stake in Micron Technology by 0.7% in the second quarter. Quantitative Systematic Strategies LLC now owns 67,006 shares of the semiconductor manufacturer’s stock worth $2,106,000 after buying an additional 475 shares during the last quarter. Altfest L J & Co. Inc. bought a new stake in Micron Technology during the second quarter worth approximately $990,000. BB&T Corp boosted its stake in Micron Technology by 11.6% in the second quarter. BB&T Corp now owns 17,169 shares of the semiconductor manufacturer’s stock worth $513,000 after buying an additional 1,787 shares during the last quarter. Oakbrook Investments LLC boosted its stake in Micron Technology by 7.8% in the second quarter. Oakbrook Investments LLC now owns 101,900 shares of the semiconductor manufacturer’s stock worth $3,043,000 after buying an additional 7,400 shares during the last quarter. Finally, Sentinel Trust Co. LBA boosted its stake in Micron Technology by 0.6% in the second quarter. Sentinel Trust Co. LBA now owns 145,046 shares of the semiconductor manufacturer’s stock worth $4,331,000 after buying an additional 821 shares during the last quarter. Institutional investors own 80.11% of the company’s stock.

Shares of Micron Technology, Inc. (NASDAQ MU) traded down 3.994% during midday trading on Tuesday, hitting $30.405. 31,504,887 shares of the stock were exchanged. The firm’s 50-day moving average is $31.29 and its 200 day moving average is $27.43. The firm has a market cap of $33.75 billion, a PE ratio of 13.353 and a beta of 1.78. Micron Technology, Inc. has a 52-week low of $13.02 and a 52-week high of $32.96.

Micron Technology (NASDAQ:MU) last issued 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 company had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. Micron Technology’s revenue was up 92.2% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. On average, analysts forecast that Micron Technology, Inc. will post $4.71 earnings per share for the current year.

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A number of equities research analysts have commented on the stock. UBS AG restated a “buy” rating and issued a $32.00 price target on shares of Micron Technology in a report on Tuesday, April 11th. Robert W. Baird reaffirmed an “outperform” rating and issued a $48.00 price objective (up from $40.00) on shares of Micron Technology in a research note on Friday, June 30th. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Rosenblatt Securities reaffirmed a “buy” rating on shares of Micron Technology in a research note on Monday, July 3rd. Finally, Instinet reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Micron Technology in a research note on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $35.65.

In related news, VP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Monday, May 1st. The stock was sold at an average price of $27.85, for a total value of $27,850.00. Following the completion of the sale, the vice president now directly owns 53,542 shares in the company, valued at $1,491,144.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 value of $859,465.00. Following the completion of the sale, the senior vice president now owns 292,211 shares of the company’s stock, valued at $9,216,334.94. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 70,492 shares of company stock valued at $2,109,749. 0.69% of the stock is owned by corporate insiders.

Micron Technology Company Profile

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

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