Micron Technology, Inc. (MU) Stake Decreased by Financial Advocates Investment Management

Financial Advocates Investment Management lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 47.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,640 shares of the semiconductor manufacturer’s stock after selling 8,755 shares during the quarter. Financial Advocates Investment Management’s holdings in Micron Technology were worth $300,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Kings Point Capital Management raised its stake in shares of Micron Technology by 21.8% in the fourth quarter. Kings Point Capital Management now owns 1,575 shares of the semiconductor manufacturer’s stock valued at $50,000 after acquiring an additional 282 shares during the period. Legacy Financial Advisors Inc. increased its stake in Micron Technology by 29.6% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,387 shares of the semiconductor manufacturer’s stock worth $44,000 after buying an additional 317 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in Micron Technology by 1.4% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 26,666 shares of the semiconductor manufacturer’s stock worth $846,000 after buying an additional 361 shares during the period. Quadrant Capital Group LLC increased its stake in Micron Technology by 15.2% in the 4th quarter. Quadrant Capital Group LLC now owns 3,589 shares of the semiconductor manufacturer’s stock worth $105,000 after buying an additional 474 shares during the period. Finally, WESPAC Advisors SoCal LLC increased its stake in Micron Technology by 11.1% in the 4th quarter. WESPAC Advisors SoCal LLC now owns 4,887 shares of the semiconductor manufacturer’s stock worth $155,000 after buying an additional 487 shares during the period. 77.21% of the stock is currently owned by institutional investors and hedge funds.

Several research firms recently commented on MU. Zacks Investment Research raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research note on Friday, March 22nd. Piper Jaffray Companies raised their price target on shares of Micron Technology from $36.00 to $40.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. UBS Group raised their price target on shares of Micron Technology to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Summit Redstone raised shares of Micron Technology to a “buy” rating in a research note on Thursday, March 21st. Finally, Mizuho reduced their price target on shares of Micron Technology from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Friday, March 15th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twenty-two have given a buy rating to the company. Micron Technology presently has an average rating of “Buy” and a consensus target price of $56.63.

NASDAQ:MU opened at $42.25 on Tuesday. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $64.66. The stock has a market capitalization of $45.74 billion, a PE ratio of 3.57, a PEG ratio of 1.04 and a beta of 1.87. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.10.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.04. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The business had revenue of $5.84 billion for the quarter, compared to analysts’ expectations of $5.82 billion. During the same period last year, the business earned $2.82 EPS. The company’s revenue was down 20.6% compared to the same quarter last year. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.27 EPS for the current year.

In related news, EVP Scott J. Deboer sold 14,486 shares of Micron Technology stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $42.88, for a total value of $621,159.68. Following the completion of the sale, the executive vice president now directly owns 150,236 shares in the company, valued at approximately $6,442,119.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 21,182 shares of Micron Technology stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $39.39, for a total transaction of $834,358.98. Following the completion of the sale, the senior vice president now owns 86,992 shares of the company’s stock, valued at $3,426,614.88. The disclosure for this sale can be found here. 0.20% of the stock is currently owned by company insiders.

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About Micron Technology

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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