Comerica Bank Sells 67,078 Shares of Micron Technology, Inc. (MU)

Comerica Bank cut its holdings in Micron Technology, Inc. (NASDAQ:MU) by 22.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 231,724 shares of the semiconductor manufacturer’s stock after selling 67,078 shares during the quarter. Comerica Bank’s holdings in Micron Technology were worth $8,963,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Alpha Cubed Investments LLC boosted its holdings in shares of Micron Technology by 9.9% in the second quarter. Alpha Cubed Investments LLC now owns 10,501 shares of the semiconductor manufacturer’s stock valued at $551,000 after acquiring an additional 950 shares in the last quarter. Brighton Jones LLC boosted its holdings in shares of Micron Technology by 18.7% in the second quarter. Brighton Jones LLC now owns 6,602 shares of the semiconductor manufacturer’s stock valued at $346,000 after acquiring an additional 1,038 shares in the last quarter. Alethea Capital Management LLC purchased a new stake in shares of Micron Technology in the second quarter valued at about $134,000. Fisher Asset Management LLC boosted its holdings in shares of Micron Technology by 18.8% in the second quarter. Fisher Asset Management LLC now owns 6,932 shares of the semiconductor manufacturer’s stock valued at $364,000 after acquiring an additional 1,096 shares in the last quarter. Finally, BB&T Corp boosted its holdings in shares of Micron Technology by 5.2% in the second quarter. BB&T Corp now owns 22,486 shares of the semiconductor manufacturer’s stock valued at $1,179,000 after acquiring an additional 1,110 shares in the last quarter. Institutional investors own 75.53% of the company’s stock.

Shares of MU stock opened at $39.11 on Friday. Micron Technology, Inc. has a one year low of $33.82 and a one year high of $64.66. The company has a quick ratio of 2.16, a current ratio of 2.79 and a debt-to-equity ratio of 0.11. The company has a market cap of $45.14 billion, a P/E ratio of 3.31, a P/E/G ratio of 0.62 and a beta of 1.69.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, topping the consensus estimate of $3.33 by $0.20. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The firm had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same quarter in the prior year, the business posted $2.02 earnings per share. Micron Technology’s revenue for the quarter was up 37.5% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 10.19 EPS for the current year.

A number of analysts recently commented on the stock. Goldman Sachs Group set a $68.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a report on Wednesday, July 18th. BidaskClub downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Wells Fargo & Co decreased their price objective on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, August 15th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Tuesday, August 21st. Finally, Deutsche Bank reissued a “buy” rating and set a $80.00 price objective on shares of Micron Technology in a report on Thursday, September 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. Micron Technology has an average rating of “Buy” and an average target price of $66.92.

COPYRIGHT VIOLATION WARNING: “Comerica Bank Sells 67,078 Shares of Micron Technology, Inc. (MU)” was first published by American Banking News and is the property of of American Banking News. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be accessed at https://www.americanbankingnews.com/2018/11/10/comerica-bank-sells-67078-shares-of-micron-technology-inc-mu.html.

Micron Technology Profile

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

See Also: Price to Earnings Ratio (PE) Basics

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).

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

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply