Dalton Investments LLC cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 48.8% in the 1st quarter, Holdings Channel reports. The firm owned 27,882 shares of the semiconductor manufacturer’s stock after selling 26,618 shares during the quarter. Micron Technology accounts for 0.5% of Dalton Investments LLC’s investment portfolio, making the stock its 28th biggest position. Dalton Investments LLC’s holdings in Micron Technology were worth $1,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Gemmer Asset Management LLC lifted its position in shares of Micron Technology by 49.9% in the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 235 shares during the last quarter. Berman Capital Advisors LLC lifted its position in shares of Micron Technology by 56.7% in the first quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 255 shares during the last quarter. Kings Point Capital Management lifted its position in shares of Micron Technology by 21.8% in the fourth quarter. Kings Point Capital Management now owns 1,575 shares of the semiconductor manufacturer’s stock valued at $50,000 after buying an additional 282 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Micron Technology by 73.3% in the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. Finally, Brighton Jones LLC lifted its holdings in Micron Technology by 4.4% during the 1st quarter. Brighton Jones LLC now owns 7,424 shares of the semiconductor manufacturer’s stock worth $307,000 after purchasing an additional 316 shares during the last quarter. 77.03% of the stock is owned by hedge funds and other institutional investors.

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

Micron Technology stock opened at $32.69 on Tuesday. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $62.55. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.65 and a current ratio of 2.25. The firm has a market cap of $36.09 billion, a price-to-earnings ratio of 2.77 and a beta of 1.94.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.04. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter last year, the company earned $2.82 EPS. The company’s revenue was down 20.6% on a year-over-year basis. Equities research analysts expect that Micron Technology, Inc. will post 6.21 earnings per share for the current fiscal year.

Several analysts recently weighed in on the company. UBS Group lifted their price target on Micron Technology to $41.00 and gave the stock a “neutral” rating in a report on Thursday, March 21st. Rosenblatt Securities reissued a “buy” rating and set a $75.00 price target on shares of Micron Technology in a report on Tuesday, March 19th. BidaskClub cut Micron Technology from a “sell” rating to a “strong sell” rating in a report on Thursday, May 23rd. Cowen lifted their price target on Micron Technology to $46.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Finally, Summit Redstone raised Micron Technology to a “buy” rating in a report on Thursday, March 21st. Five investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have issued a buy rating to the stock. Micron Technology presently has a consensus rating of “Hold” and a consensus target price of $51.56.

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About Micron Technology

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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