BlackRock Inc. lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.9% in the first quarter, HoldingsChannel.com reports. The firm owned 72,652,934 shares of the semiconductor manufacturer’s stock after selling 2,172,207 shares during the period. BlackRock Inc. owned 0.07% of Micron Technology worth $3,002,746,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Executive Wealth Management LLC acquired a new stake in Micron Technology during the 4th quarter worth $26,000. JNBA Financial Advisors acquired a new stake in Micron Technology during the 4th quarter worth $28,000. Athena Capital Advisors LLC acquired a new stake in Micron Technology during the 4th quarter worth $29,000. Valeo Financial Advisors LLC raised its stake in Micron Technology by 73.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 300 shares in the last quarter. Finally, Gemmer Asset Management LLC raised its stake in Micron Technology by 49.9% during the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 235 shares in the last quarter. 77.06% of the stock is owned by hedge funds and other institutional investors.

MU stock opened at $34.00 on Monday. The stock has a market cap of $37.63 billion, a P/E ratio of 2.88 and a beta of 1.84. Micron Technology, Inc. has a 52 week low of $28.39 and a 52 week high of $64.66. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.10.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $5.84 billion for the quarter, compared to the consensus estimate of $5.82 billion. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The firm’s revenue was down 20.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.82 earnings per share. On average, equities analysts predict that Micron Technology, Inc. will post 6.27 earnings per share for the current year.

Several brokerages have issued reports on MU. Mizuho lowered their price objective on shares of Micron Technology from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Friday, March 15th. Summit Redstone raised shares of Micron Technology to a “buy” rating in a research report on Thursday, March 21st. MKM Partners raised their price objective on shares of Micron Technology to $50.00 and gave the stock a “buy” rating in a research report on Thursday, March 21st. Summit Insights raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, March 21st. Finally, Rosenblatt Securities reissued a “buy” rating and set a $75.00 price objective on shares of Micron Technology in a research report on Tuesday, March 19th. Five research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.89.

In other Micron Technology news, SVP April S. Arnzen sold 21,182 shares of Micron Technology stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total transaction of $834,358.98. Following the completion of the transaction, the senior vice president now owns 86,992 shares in the company, valued at $3,426,614.88. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 14,486 shares of Micron Technology stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $42.88, for a total transaction of $621,159.68. Following the transaction, the executive vice president now owns 150,236 shares of the company’s stock, valued at approximately $6,442,119.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,878 shares of company stock worth $2,293,223. 0.20% of the stock is owned by insiders.

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Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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

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