Micron Technology, Inc. (MU) Position Lessened by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,585,848 shares of the semiconductor manufacturer’s stock after selling 193,486 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.14% of Micron Technology worth $47,353,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MU. Empire Life Investments Inc. bought a new stake in Micron Technology during the 1st quarter worth about $8,813,000. Neuberger Berman Group LLC grew its holdings in Micron Technology by 1.4% during the 1st quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock worth $359,000 after acquiring an additional 170 shares during the last quarter. Teachers Advisors LLC grew its holdings in Micron Technology by 2.9% during the 1st quarter. Teachers Advisors LLC now owns 4,847,514 shares of the semiconductor manufacturer’s stock worth $140,093,000 after acquiring an additional 134,778 shares during the last quarter. Westfield Capital Management Co. LP bought a new stake in Micron Technology during the 1st quarter worth about $16,250,000. Finally, Segantii Capital Management Ltd bought a new stake in Micron Technology during the 1st quarter worth about $17,340,000. 79.29% of the stock is currently owned by hedge funds and other institutional investors.

In other news, SVP April S. Arnzen sold 1,000 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total transaction of $28,220.00. Following the completion of the transaction, the senior vice president now owns 50,542 shares in the company, valued at approximately $1,426,295.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $39.86, for a total value of $119,580.00. Following the transaction, the director now owns 114,284 shares of the company’s stock, valued at approximately $4,555,360.24. The disclosure for this sale can be found here. Insiders have sold a total of 287,465 shares of company stock valued at $10,620,575 in the last quarter. 0.69% of the stock is owned by corporate insiders.

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A number of equities research analysts have commented on MU shares. UBS AG reissued an “average” rating and set a $36.00 price objective (up previously from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Micron Technology in a research note on Friday, June 30th. BidaskClub lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. Mizuho reaffirmed a “buy” rating and issued a $35.00 target price on shares of Micron Technology in a research note on Friday, June 16th. Finally, Loop Capital reaffirmed a “buy” rating and issued a $40.00 target price (up previously from $35.00) on shares of Micron Technology in a research note on Thursday, June 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the stock. Micron Technology has a consensus rating of “Buy” and an average price target of $45.05.

Micron Technology, Inc. (MU) traded down 0.555% during trading on Thursday, reaching $41.379. 25,394,350 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $35.35 and its 200-day moving average price is $30.96. Micron Technology, Inc. has a 12 month low of $16.17 and a 12 month high of $42.07. The firm has a market cap of $45.89 billion, a price-to-earnings ratio of 9.383 and a beta of 1.82.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The firm had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. The business’s revenue was up 90.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post $7.55 EPS for the current year.

Micron Technology Company Profile

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

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