361 Capital LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 88.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,724 shares of the semiconductor manufacturer’s stock after selling 159,646 shares during the period. 361 Capital LLC’s holdings in Micron Technology were worth $854,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Research Global Investors increased its stake in shares of Micron Technology by 386.6% in the second quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock worth $1,188,259,000 after purchasing an additional 31,616,346 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Micron Technology by 292.8% in the second quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after purchasing an additional 8,834,274 shares in the last quarter. BT Investment Management Ltd purchased a new stake in shares of Micron Technology in the second quarter worth $95,449,000. Pioneer Investment Management Inc. increased its stake in shares of Micron Technology by 298.4% in the second quarter. Pioneer Investment Management Inc. now owns 2,590,309 shares of the semiconductor manufacturer’s stock worth $77,347,000 after purchasing an additional 1,940,212 shares in the last quarter. Finally, Marshall Wace North America L.P. increased its stake in shares of Micron Technology by 7,981.1% in the second quarter. Marshall Wace North America L.P. now owns 1,781,567 shares of the semiconductor manufacturer’s stock worth $53,447,000 after purchasing an additional 1,759,521 shares in the last quarter. Institutional investors and hedge funds own 76.85% of the company’s stock.

In other news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $32.64, for a total transaction of $97,920.00. Following the completion of the sale, the director now owns 117,284 shares of the company’s stock, valued at $3,828,149.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joel L. Poppen sold 80,000 shares of the company’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the sale, the insider now directly owns 266,966 shares of the company’s stock, valued at approximately $10,307,557.26. The disclosure for this sale can be found here. In the last three months, insiders sold 308,415 shares of company stock valued at $11,836,825. 0.69% of the stock is owned by insiders.

A number of brokerages have recently issued reports on MU. Vetr cut shares of Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price objective for the company. in a research note on Friday. Deutsche Bank AG reaffirmed a “buy” rating and set a $42.00 target price (up from $37.00) on shares of Micron Technology in a research note on Wednesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating on shares of Micron Technology in a research note on Wednesday, September 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 target price on shares of Micron Technology in a research note on Monday, August 14th. Finally, J P Morgan Chase & Co raised their target price on shares of Micron Technology from $50.00 to $55.00 and gave the company an “overweight” rating in a research note on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $47.12.

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up $0.97 during midday trading on Monday, reaching $47.13. 6,850,950 shares of the company traded hands, compared to its average volume of 28,901,887. The stock has a market cap of $53,230.00, a price-to-earnings ratio of 10.40, a PEG ratio of 0.62 and a beta of 1.78. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. Micron Technology, Inc. has a 12 month low of $18.18 and a 12 month high of $46.55.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm’s revenue was up 90.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.01) EPS. research analysts predict that Micron Technology, Inc. will post 7.42 EPS for the current fiscal year.

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Micron Technology Profile

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

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