Mn Services Vermogensbeheer B.V. cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,080 shares of the semiconductor manufacturer’s stock after selling 1,700 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Micron Technology were worth $8,063,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. Executive Wealth Management LLC acquired a new position in Micron Technology in the fourth quarter valued at $26,000. JNBA Financial Advisors purchased a new stake in Micron Technology during the fourth quarter valued at about $28,000. Lavaca Capital LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $29,000. Athena Capital Advisors LLC purchased a new stake in Micron Technology during the fourth quarter valued at about $29,000. Finally, Valeo Financial Advisors LLC grew its position in Micron Technology by 73.3% during the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 77.56% of the company’s stock.
Shares of MU opened at $37.44 on Thursday. The stock has a market capitalization of $41.37 billion, a P/E ratio of 3.17 and a beta of 1.84. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $64.66. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.10.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $5.82 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. Micron Technology’s revenue for the quarter was down 20.6% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 6.27 EPS for the current year.
Several brokerages have recently weighed in on MU. Zacks Investment Research raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Friday, March 22nd. ValuEngine raised Micron Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub downgraded Micron Technology from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. UBS Group upped their target price on Micron Technology to $41.00 and gave the stock a “neutral” rating in a research report on Thursday, March 21st. Finally, Morgan Stanley downgraded Micron Technology from an “equal weight” rating to an “underweight” rating and set a $32.00 target price for the company. in a research report on Thursday, April 4th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $55.85.
In other Micron Technology news, SVP April S. Arnzen sold 21,182 shares of the company’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total transaction of $834,358.98. Following the sale, the senior vice president now owns 86,992 shares in the company, valued at $3,426,614.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott J. Deboer sold 14,486 shares of the company’s stock in a transaction that occurred 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 sale, 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. Insiders have sold 55,878 shares of company stock worth $2,293,223 in the last 90 days. 0.20% of the stock is currently owned by insiders.
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.
Featured Story: Debt-To-Equity Ratio
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).