Hanseatic Management Services Inc. trimmed its position in Micron Technology, Inc. (NASDAQ:MU) by 55.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,130 shares of the semiconductor manufacturer’s stock after selling 54,224 shares during the period. Micron Technology accounts for approximately 1.9% of Hanseatic Management Services Inc.’s investment portfolio, making the stock its 4th biggest holding. Hanseatic Management Services Inc.’s holdings in Micron Technology were worth $1,696,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wetherby Asset Management Inc. grew its position in Micron Technology by 1.0% during the 2nd quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $457,000 after purchasing an additional 154 shares during the period. Honkamp Krueger Financial Services Inc. grew its position in Micron Technology by 0.4% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock worth $1,556,000 after purchasing an additional 221 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Micron Technology by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock worth $2,307,000 after purchasing an additional 367 shares during the period. Parallel Advisors LLC grew its position in Micron Technology by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock worth $232,000 after purchasing an additional 369 shares during the period. Finally, Advisor Partners LLC grew its position in Micron Technology by 1.5% during the 2nd quarter. Advisor Partners LLC now owns 24,638 shares of the semiconductor manufacturer’s stock worth $736,000 after purchasing an additional 372 shares during the period. 75.45% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology, Inc. (NASDAQ:MU) traded down $0.20 during trading on Wednesday, reaching $45.61. 17,360,802 shares of the company traded hands, compared to its average volume of 28,981,148. Micron Technology, Inc. has a 12-month low of $17.66 and a 12-month high of $46.00. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. The firm has a market cap of $52,350.00, a P/E ratio of 10.27, a PEG ratio of 0.61 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same quarter last year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. research analysts predict that Micron Technology, Inc. will post 7.42 earnings per share for the current year.

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In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now owns 117,299 shares in the company, valued at $5,225,670.45. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 29,500 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.00, for a total transaction of $1,032,500.00. Following the completion of the transaction, the executive vice president now owns 169,732 shares of the company’s stock, valued at approximately $5,940,620. The disclosure for this sale can be found here. Insiders sold a total of 308,415 shares of company stock valued at $11,836,825 in the last quarter. 0.69% of the stock is owned by insiders.

Several equities research analysts have weighed in on the company. Deutsche Bank AG reaffirmed a “buy” rating and set a $42.00 price target (up from $37.00) on shares of Micron Technology in a research report on Wednesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating on shares of Micron Technology in a research report on Wednesday, September 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price target on shares of Micron Technology in a research report on Monday, August 14th. J P Morgan Chase & Co increased their target price on shares of Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research note on Friday, November 10th. Finally, Loop Capital reissued a “buy” rating and set a $46.00 target price (up from $40.00) on shares of Micron Technology in a research note on Thursday, September 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $46.96.

About Micron Technology

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

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