Chartwell Investment Partners LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 18.7% in the 4th quarter, HoldingsChannel reports. The firm owned 140,900 shares of the semiconductor manufacturer’s stock after selling 32,310 shares during the quarter. Chartwell Investment Partners LLC’s holdings in Micron Technology were worth $5,794,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. SevenBridge Financial Group LLC grew its stake in shares of Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after acquiring an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. grew its stake in shares of Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after acquiring an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC grew its stake in shares of Micron Technology by 368.8% during the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after acquiring an additional 2,600 shares in the last quarter. Sowell Financial Services LLC acquired a new stake in shares of Micron Technology during the third quarter valued at about $204,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Micron Technology during the third quarter valued at about $184,000. Hedge funds and other institutional investors own 80.66% of the company’s stock.
In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $41.38, for a total value of $124,140.00. Following the sale, the director now owns 116,699 shares in the company, valued at $4,829,004.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP April S. Arnzen sold 1,222 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $2,537,303.13. The disclosure for this sale can be found here. Insiders sold 174,692 shares of company stock worth $7,473,967 in the last three months. 0.53% of the stock is currently owned by corporate insiders.
Micron Technology, Inc. (NASDAQ:MU) opened at $44.21 on Friday. 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 twelve month low of $22.64 and a twelve month high of $49.89. The stock has a market cap of $51,120.00, a PE ratio of 6.96, a price-to-earnings-growth ratio of 0.43 and a beta of 1.62.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm had revenue of $6.80 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same quarter last year, the company posted $0.32 earnings per share. Micron Technology’s revenue was up 71.4% on a year-over-year basis. equities analysts expect that Micron Technology, Inc. will post 10.12 EPS 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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