Micron Technology Inc. (NASDAQ:MU) released its quarterly earnings results on Tuesday. The semiconductor manufacturer reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.12. Micron Technology had a net margin of 2.86% and a return on equity of 3.95%. The firm earned $3.22 billion during the quarter, compared to the consensus estimate of $3.07 billion.

Shares of Micron Technology (NASDAQ:MU) traded up 0.39% during mid-day trading on Tuesday, reaching $17.80. The company’s stock had a trading volume of 49,759,986 shares. Micron Technology has a 52-week low of $9.31 and a 52-week high of $19.30. The firm has a market cap of $18.48 billion, a price-to-earnings ratio of 51.15 and a beta of 1.76. The firm has a 50 day moving average price of $16.84 and a 200 day moving average price of $13.18.

Earnings History for Micron Technology (NASDAQ:MU)

MU has been the subject of a number of research analyst reports. Pacific Crest reissued a “hold” rating on shares of Micron Technology in a research note on Sunday, June 26th. Nomura raised shares of Micron Technology from a “reduce” rating to a “buy” rating in a research note on Thursday, June 23rd. Stifel Nicolaus decreased their price target on shares of Micron Technology from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. Vetr raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating and set a $16.41 price target on the stock in a research note on Wednesday, July 27th. Finally, Sterne Agee CRT reaffirmed a “positive” rating and set a $18.00 price target on shares of Micron Technology in a research note on Thursday, June 9th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, twenty-seven have given a buy rating and two have assigned a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and an average target price of $17.76.

In related news, VP Scott J. Deboer sold 31,500 shares of Micron Technology stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $17.05, for a total transaction of $537,075.00. Following the completion of the sale, the vice president now directly owns 207,265 shares of the company’s stock, valued at approximately $3,533,868.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.85% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Group LTD raised its position in shares of Micron Technology by 1.0% in the second quarter. BlackRock Group LTD now owns 10,881,114 shares of the semiconductor manufacturer’s stock valued at $149,724,000 after buying an additional 105,230 shares during the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of Micron Technology by 23.5% in the second quarter. TIAA CREF Investment Management LLC now owns 5,763,504 shares of the semiconductor manufacturer’s stock worth $79,306,000 after buying an additional 1,095,174 shares in the last quarter. Teachers Advisors Inc. raised its stake in shares of Micron Technology by 72.5% in the second quarter. Teachers Advisors Inc. now owns 3,250,839 shares of the semiconductor manufacturer’s stock worth $44,732,000 after buying an additional 1,366,813 shares in the last quarter. TCW Group Inc. raised its stake in shares of Micron Technology by 161.4% in the second quarter. TCW Group Inc. now owns 2,870,735 shares of the semiconductor manufacturer’s stock worth $39,501,000 after buying an additional 1,772,587 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in shares of Micron Technology by 30.4% in the second quarter. Alliancebernstein L.P. now owns 2,594,003 shares of the semiconductor manufacturer’s stock worth $35,693,000 after buying an additional 605,164 shares in the last quarter. 81.42% of the stock is owned by hedge funds and other institutional investors.

About Micron Technology

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