Micron Technology, Inc. (NASDAQ:MU) Shares Sold by First Trust Advisors LP

First Trust Advisors LP lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 16.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,062,208 shares of the semiconductor manufacturer’s stock after selling 607,921 shares during the quarter. First Trust Advisors LP owned about 0.28% of Micron Technology worth $131,216,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Managed Asset Portfolios LLC increased its stake in Micron Technology by 4.2% during the third quarter. Managed Asset Portfolios LLC now owns 398,690 shares of the semiconductor manufacturer’s stock worth $17,083,000 after acquiring an additional 16,035 shares during the last quarter. Symmetry Partners LLC acquired a new stake in Micron Technology during the third quarter worth $248,000. Keybank National Association OH boosted its position in shares of Micron Technology by 13.8% during the third quarter. Keybank National Association OH now owns 6,515 shares of the semiconductor manufacturer’s stock worth $279,000 after buying an additional 792 shares during the period. Parallel Advisors LLC boosted its position in shares of Micron Technology by 33.2% during the third quarter. Parallel Advisors LLC now owns 6,092 shares of the semiconductor manufacturer’s stock worth $261,000 after buying an additional 1,517 shares during the period. Finally, Traynor Capital Management Inc. boosted its position in shares of Micron Technology by 1.7% during the third quarter. Traynor Capital Management Inc. now owns 16,026 shares of the semiconductor manufacturer’s stock worth $686,000 after buying an additional 268 shares during the period. 76.78% of the stock is owned by hedge funds and other institutional investors.

MU has been the subject of several research analyst reports. Needham & Company LLC raised their price target on Micron Technology to $60.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Cowen raised their price target on Micron Technology from $38.00 to $46.00 and gave the stock a “market perform” rating in a research report on Wednesday, September 25th. Deutsche Bank set a $55.00 price target on Micron Technology and gave the stock a “buy” rating in a research report on Monday, September 23rd. Susquehanna Bancshares set a $45.00 price target on Micron Technology and gave the stock a “hold” rating in a research report on Friday, September 27th. Finally, BMO Capital Markets raised their price target on Micron Technology from $50.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty-three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $53.36.

In other Micron Technology news, SVP April S. Arnzen sold 2,477 shares of the firm’s stock in a transaction on Wednesday, September 25th. The stock was sold at an average price of $48.47, for a total value of $120,060.19. Following the sale, the senior vice president now directly owns 72,431 shares in the company, valued at $3,510,730.57. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $50.00, for a total value of $1,000,000.00. Following the completion of the sale, the executive vice president now owns 110,236 shares in the company, valued at $5,511,800. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,484 shares of company stock worth $2,439,568. 0.20% of the stock is owned by insiders.

NASDAQ:MU traded down $1.21 during midday trading on Friday, reaching $47.19. The company had a trading volume of 18,512,789 shares, compared to its average volume of 27,489,525. The firm has a market capitalization of $53.89 billion, a price-to-earnings ratio of 7.67 and a beta of 2.00. The stock’s fifty day simple moving average is $46.14 and its 200-day simple moving average is $42.27. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $51.39. The company has a current ratio of 2.58, a quick ratio of 1.78 and a debt-to-equity ratio of 0.12.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.13. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.56 billion. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. Micron Technology’s revenue was down 42.3% compared to the same quarter last year. During the same period last year, the business posted $3.53 earnings per share. As a group, sell-side analysts expect that Micron Technology, Inc. will post 2.19 EPS for the current year.

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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