Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by SeaCrest Wealth Management LLC

SeaCrest Wealth Management LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 70.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 18,575 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,681 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Micron Technology were worth $796,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its position in shares of Micron Technology by 56.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 29,459,631 shares of the semiconductor manufacturer’s stock worth $1,136,847,000 after purchasing an additional 10,672,909 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of Micron Technology by 154.2% during the second quarter. Renaissance Technologies LLC now owns 9,735,914 shares of the semiconductor manufacturer’s stock worth $375,709,000 after purchasing an additional 5,905,239 shares in the last quarter. Nuveen Asset Management LLC lifted its position in shares of Micron Technology by 508.8% during the second quarter. Nuveen Asset Management LLC now owns 4,993,986 shares of the semiconductor manufacturer’s stock worth $192,717,000 after purchasing an additional 4,173,660 shares in the last quarter. Viking Global Investors LP lifted its position in shares of Micron Technology by 180.9% during the second quarter. Viking Global Investors LP now owns 6,431,167 shares of the semiconductor manufacturer’s stock worth $248,179,000 after purchasing an additional 4,141,275 shares in the last quarter. Finally, Platinum Investment Management Ltd. lifted its position in shares of Micron Technology by 95.9% during the second quarter. Platinum Investment Management Ltd. now owns 5,021,110 shares of the semiconductor manufacturer’s stock worth $193,765,000 after purchasing an additional 2,458,645 shares in the last quarter. 76.79% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:MU traded down $1.20 during midday trading on Wednesday, reaching $45.26. The company had a trading volume of 11,296,625 shares, compared to its average volume of 24,769,996. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.78. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $51.39. The stock’s fifty day moving average price is $46.45 and its 200-day moving average price is $41.75. The stock has a market capitalization of $49.95 billion, a P/E ratio of 7.36 and a beta of 1.97.

Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.13. Micron Technology had a net margin of 26.97% and a return on equity of 19.81%. The firm had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the firm earned $3.53 earnings per share. The firm’s revenue for the quarter was down 42.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 2.31 earnings per share for the current year.

In other Micron Technology news, Director Patrick J. Byrne sold 23,264 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $43.27, for a total transaction of $1,006,633.28. Following the completion of the sale, the director now owns 97,739 shares in the company, valued at $4,229,166.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 8,475 shares of the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total transaction of $406,800.00. Following the sale, the executive vice president now owns 138,711 shares of the company’s stock, valued at approximately $6,658,128. The disclosure for this sale can be found here. In the last quarter, insiders have sold 80,676 shares of company stock valued at $3,747,688. 0.20% of the stock is owned by insiders.

A number of research analysts have recently commented on the stock. Susquehanna Bancshares set a $45.00 target price on shares of Micron Technology and gave the stock a “hold” rating in a research report on Friday, September 27th. Goldman Sachs Group boosted their target price on shares of Micron Technology from $56.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Credit Suisse Group set a $90.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a research report on Monday, September 23rd. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. Finally, Rosenblatt Securities set a $80.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a research report on Friday, September 27th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and twenty-two have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $53.36.

About Micron Technology

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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