Dalal Street LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,785,745 shares of the semiconductor manufacturer’s stock after buying an additional 86,480 shares during the period. Micron Technology accounts for approximately 23.4% of Dalal Street LLC’s portfolio, making the stock its 2nd biggest holding. Dalal Street LLC’s holdings in Micron Technology were worth $68,912,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wesbanco Bank Inc. grew its stake in shares of Micron Technology by 22.6% in the 2nd quarter. Wesbanco Bank Inc. now owns 8,161 shares of the semiconductor manufacturer’s stock valued at $315,000 after purchasing an additional 1,505 shares during the last quarter. BlackRock Inc. grew its stake in shares of Micron Technology by 1.0% in the 2nd quarter. BlackRock Inc. now owns 73,370,753 shares of the semiconductor manufacturer’s stock valued at $2,831,377,000 after purchasing an additional 717,819 shares during the last quarter. US Bancorp DE grew its stake in shares of Micron Technology by 9.1% in the 2nd quarter. US Bancorp DE now owns 457,948 shares of the semiconductor manufacturer’s stock valued at $17,673,000 after purchasing an additional 38,015 shares during the last quarter. Virtus ETF Advisers LLC purchased a new position in shares of Micron Technology in the 2nd quarter valued at approximately $25,000. Finally, HighTower Advisors LLC grew its stake in shares of Micron Technology by 11.6% in the 2nd quarter. HighTower Advisors LLC now owns 409,080 shares of the semiconductor manufacturer’s stock valued at $15,788,000 after purchasing an additional 42,623 shares during the last quarter. 76.73% of the stock is currently owned by institutional investors.

In other news, SVP April S. Arnzen sold 2,491 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $112,095.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the sale, the executive vice president now directly owns 130,236 shares of the company’s stock, valued at approximately $5,860,620. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,735 shares of company stock valued at $3,736,994. 0.20% of the stock is owned by company insiders.

MU stock traded down $0.07 during midday trading on Friday, hitting $50.37. 1,681,720 shares of the stock were exchanged, compared to its average volume of 18,772,324. The stock’s 50-day moving average price is $44.93 and its 200-day moving average price is $40.76. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $51.39. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.88 and a current ratio of 2.79. The stock has a market cap of $54.52 billion, a price-to-earnings ratio of 4.26 and a beta of 1.95.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.30. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the previous year, the business earned $3.15 earnings per share. The firm’s quarterly revenue was down 38.6% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Several research analysts have weighed in on MU shares. Rosenblatt Securities reiterated a “buy” rating and issued a $60.00 target price on shares of Micron Technology in a research note on Friday, May 24th. Nomura lowered their target price on Micron Technology from $45.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. BidaskClub upgraded Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, September 5th. Mizuho lifted their target price on Micron Technology from $44.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus lowered their target price on Micron Technology from $60.00 to $54.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $50.19.

Micron Technology 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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