Stoneridge Investment Partners LLC Lowers Stake in Micron Technology, Inc. (MU)

Stoneridge Investment Partners LLC Lowers Stake in Micron Technology, Inc. (MU)

Stoneridge Investment Partners LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 35.7% during the first quarter, Holdings Channel reports. The firm owned 90,937 shares of the semiconductor manufacturer’s stock after selling 50,430 shares during the period. Stoneridge Investment Partners LLC’s holdings in Micron Technology were worth $2,628,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Acadian Asset Management LLC increased its position in Micron Technology by 50.4% in the third quarter. Acadian Asset Management LLC now owns 12,545 shares of the semiconductor manufacturer’s stock worth $223,000 after buying an additional 4,203 shares during the last quarter. Great West Life Assurance Co. Can increased its position in Micron Technology by 1.7% in the third quarter. Great West Life Assurance Co. Can now owns 898,177 shares of the semiconductor manufacturer’s stock worth $15,940,000 after buying an additional 14,890 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Micron Technology by 3.3% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 160,238 shares of the semiconductor manufacturer’s stock worth $2,849,000 after buying an additional 5,057 shares during the last quarter. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new position in Micron Technology during the third quarter worth about $6,361,000. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its position in Micron Technology by 3.7% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,154,366 shares of the semiconductor manufacturer’s stock worth $56,085,000 after buying an additional 112,925 shares during the last quarter. Institutional investors and hedge funds own 81.43% of the company’s stock.

Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 1.48% during midday trading on Friday, reaching $28.20. The company’s stock had a trading volume of 15,639,616 shares. The firm has a 50-day moving average of $27.59 and a 200-day moving average of $22.97. Micron Technology, Inc. has a one year low of $9.35 and a one year high of $29.87. The stock has a market cap of $31.20 billion, a PE ratio of 43.93 and a beta of 1.93.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, March 23rd. The semiconductor manufacturer reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.84 by $0.06. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The business had revenue of $4.65 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business’s revenue was up 58.4% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post $4.28 EPS for the current year.

A number of research firms have issued reports on MU. Macquarie began coverage on shares of Micron Technology in a research report on Thursday, March 30th. They set an “outperform” rating and a $35.00 target price on the stock. MKM Partners restated a “buy” rating and set a $38.00 target price (up from $34.00) on shares of Micron Technology in a research report on Tuesday, March 28th. Loop Capital restated a “buy” rating and set a $35.00 target price (up from $30.00) on shares of Micron Technology in a research report on Tuesday, March 28th. Vetr upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $32.42 target price on the stock in a research report on Monday, April 3rd. Finally, TheStreet upgraded shares of Micron Technology from a “c” rating to a “b-” rating in a research report on Thursday, March 23rd. Two research analysts have rated the stock with a hold rating, thirty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $31.25.

In other news, Director Mercedes Johnson sold 27,242 shares of the company’s stock in a transaction on Friday, April 28th. The stock was sold at an average price of $27.66, for a total transaction of $753,513.72. Following the transaction, the director now owns 54,533 shares of the company’s stock, valued at approximately $1,508,382.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian Shirley sold 27,250 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $23.12, for a total value of $630,020.00. Following the transaction, the vice president now directly owns 340,542 shares in the company, valued at approximately $7,873,331.04. The disclosure for this sale can be found here. In the last three months, insiders sold 382,630 shares of company stock worth $10,282,104. Insiders own 0.69% of the company’s stock.

Micron Technology Company Profile

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