Crossmark Global Holdings Inc. trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 2.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 93,928 shares of the semiconductor manufacturer’s stock after selling 2,849 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Micron Technology were worth $4,248,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. AXA boosted its holdings in Micron Technology by 0.4% in the third quarter. AXA now owns 1,712,557 shares of the semiconductor manufacturer’s stock worth $77,459,000 after acquiring an additional 6,600 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in Micron Technology in the third quarter worth $306,000. Cedar Capital LLC bought a new stake in Micron Technology in the third quarter worth $242,000. Piedmont Investment Advisors Inc. boosted its holdings in Micron Technology by 47.5% in the third quarter. Piedmont Investment Advisors Inc. now owns 185,104 shares of the semiconductor manufacturer’s stock worth $8,372,000 after acquiring an additional 59,575 shares in the last quarter. Finally, Aldebaran Financial Inc. bought a new position in shares of Micron Technology during the third quarter valued at $611,000. 74.14% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on MU. Needham & Company LLC lowered their price target on Micron Technology from $100.00 to $80.00 and set a “strong-buy” rating on the stock in a report on Monday, September 24th. Barclays lowered their price target on Micron Technology from $60.00 to $50.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Goldman Sachs Group downgraded Micron Technology from a “buy” rating to a “neutral” rating and lowered their price target for the company from $68.00 to $50.00 in a report on Wednesday, September 12th. Wells Fargo & Co lowered their price target on Micron Technology from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, August 15th. They noted that the move was a valuation call. Finally, Cowen lowered their price target on Micron Technology from $72.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, September 18th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $65.49.

Micron Technology stock opened at $36.38 on Thursday. The firm has a market cap of $41.77 billion, a P/E ratio of 3.08, a PEG ratio of 0.58 and a beta of 1.69. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.16. Micron Technology, Inc. has a one year low of $33.82 and a one year high of $64.66.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating analysts’ consensus estimates of $3.33 by $0.20. The company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.25 billion. Micron Technology had a return on equity of 51.68% and a net margin of 46.51%. Micron Technology’s revenue for the quarter was up 37.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.02 earnings per share. As a group, research analysts anticipate that Micron Technology, Inc. will post 10.03 earnings per share for the current year.

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Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

See Also: Intrinsic Value

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

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