Cornerstone Capital Management Holdings LLC. lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 11.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,068,381 shares of the semiconductor manufacturer’s stock after selling 138,486 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.09% of Micron Technology worth $43,930,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. SevenBridge Financial Group LLC increased its position in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after buying an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. increased its position in shares of Micron Technology by 76.0% in the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after buying an additional 1,252 shares in the last quarter. Sowell Financial Services LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at $204,000. Girard Partners LTD. bought a new stake in shares of Micron Technology in the 4th quarter valued at $207,000. Finally, Lourd Capital LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at $211,000. 82.51% of the stock is currently owned by institutional investors.
In related news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $42.73, for a total value of $128,190.00. Following the completion of the sale, the director now directly owns 113,585 shares in the company, valued at approximately $4,853,487.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP April S. Arnzen sold 1,222 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $43.77, for a total transaction of $53,486.94. Following the completion of the sale, the senior vice president now owns 57,969 shares of the company’s stock, valued at $2,537,303.13. The disclosure for this sale can be found here. Insiders sold a total of 174,692 shares of company stock valued at $7,493,827 in the last 90 days. 0.53% of the stock is owned by corporate insiders.
Micron Technology, Inc. (MU) opened at $59.37 on Tuesday. The firm has a market capitalization of $68,650.00, a PE ratio of 9.35, a PEG ratio of 0.53 and a beta of 1.45. The company has a quick ratio of 1.83, a current ratio of 2.39 and a debt-to-equity ratio of 0.33. Micron Technology, Inc. has a 1-year low of $24.93 and a 1-year high of $61.17.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.85 by $0.60. The company had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. Micron Technology had a return on equity of 41.87% and a net margin of 32.77%. Micron Technology’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. sell-side analysts expect that Micron Technology, Inc. will post 10.29 earnings per share for the current fiscal year.
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Micron Technology Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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