Micron Technology, Inc. (NASDAQ:MU) Stake Lowered by Davis Selected Advisers

Davis Selected Advisers decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 20.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,828 shares of the semiconductor manufacturer’s stock after selling 3,200 shares during the quarter. Davis Selected Advisers’ holdings in Micron Technology were worth $383,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in Micron Technology by 519.7% in the 1st quarter. Acadian Asset Management LLC now owns 34,123 shares of the semiconductor manufacturer’s stock worth $987,000 after acquiring an additional 28,617 shares in the last quarter. BB&T Corp purchased a new stake in Micron Technology in the 1st quarter worth about $444,000. Eqis Capital Management Inc. purchased a new stake in Micron Technology in the 1st quarter worth about $316,000. LSV Asset Management lifted its stake in Micron Technology by 5.9% in the 1st quarter. LSV Asset Management now owns 404,624 shares of the semiconductor manufacturer’s stock worth $11,693,000 after acquiring an additional 22,400 shares in the last quarter. Finally, Empire Life Investments Inc. purchased a new stake in Micron Technology in the 1st quarter worth about $8,813,000. Institutional investors and hedge funds own 79.34% of the company’s stock.

Several brokerages recently issued reports on MU. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price objective on shares of Micron Technology in a research note on Tuesday. Goldman Sachs Group, Inc. (The) raised Micron Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $40.00 in a research note on Tuesday. KeyCorp reissued a “hold” rating on shares of Micron Technology in a research note on Tuesday. Macquarie reissued an “outperform” rating and issued a $38.00 price objective on shares of Micron Technology in a research note on Tuesday. Finally, BidaskClub raised Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have given a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $36.27.

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In other news, SVP Brian Shirley sold 27,250 shares of the stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total value of $859,465.00. Following the completion of the transaction, the senior vice president now directly owns 292,211 shares in the company, valued at approximately $9,216,334.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 1,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $30.12, for a total value of $30,120.00. Following the completion of the transaction, the senior vice president now owns 51,542 shares of the company’s stock, valued at $1,552,445.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 73,577 shares of company stock worth $2,305,192. Company insiders own 0.69% of the company’s stock.

Shares of Micron Technology, Inc. (NASDAQ MU) traded up 0.9098% during trading on Friday, reaching $34.8946. The company’s stock had a trading volume of 14,551,462 shares. The company has a market cap of $38.73 billion, a PE ratio of 15.3248 and a beta of 1.75. The firm’s 50-day moving average is $30.50 and its 200 day moving average is $29.24. Micron Technology, Inc. has a 52-week low of $16.17 and a 52-week high of $35.00.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.25. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company’s revenue was up 92.2% compared to the same quarter last year. During the same quarter last year, the business posted ($0.08) EPS. On average, equities research analysts predict that Micron Technology, Inc. will post $4.72 EPS for the current fiscal year.

Micron Technology Profile

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

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