Kornitzer Capital Management Inc. KS held its position in Micron Technology Inc. (NASDAQ:MU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,292,690 shares of the semiconductor manufacturer’s stock at the end of the second quarter. Kornitzer Capital Management Inc. KS owned 0.12% of Micron Technology worth $17,787,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA increased its stake in shares of Micron Technology by 11.6% in the first quarter. Primecap Management Co. CA now owns 57,143,016 shares of the semiconductor manufacturer’s stock valued at $598,287,000 after buying an additional 5,961,872 shares during the period. Amerigo Asset Management increased its stake in shares of Micron Technology by 7.3% in the second quarter. Amerigo Asset Management now owns 17,913,834 shares of the semiconductor manufacturer’s stock valued at $246,494,000 after buying an additional 1,212,741 shares during the period. Standard Life Investments LTD bought a new stake in shares of Micron Technology during the second quarter valued at approximately $89,591,000. Natixis increased its stake in shares of Micron Technology by 90.7% in the first quarter. Natixis now owns 6,019,111 shares of the semiconductor manufacturer’s stock valued at $63,020,000 after buying an additional 2,862,897 shares during the period. Finally, Legal & General Group Plc increased its stake in shares of Micron Technology by 7.1% in the first quarter. Legal & General Group Plc now owns 4,715,912 shares of the semiconductor manufacturer’s stock valued at $49,372,000 after buying an additional 313,567 shares during the period. 81.42% of the stock is currently owned by institutional investors and hedge funds.

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

Micron Technology Inc. (NASDAQ:MU) traded up 1.66% on Friday, hitting $17.13. 23,012,072 shares of the company’s stock traded hands. The stock has a 50-day moving average of $17.19 and a 200-day moving average of $13.49. The stock’s market cap is $17.76 billion. Micron Technology Inc. has a one year low of $9.31 and a one year high of $19.22.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.12. The business earned $3.22 billion during the quarter. Micron Technology had a negative net margin of 2.23% and a positive return on equity of 0.50%. The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, equities analysts forecast that Micron Technology Inc. will post $1.12 earnings per share for the current fiscal year.

Several analysts have recently commented on MU shares. Robert W. Baird reissued a “buy” rating and issued a $18.00 price objective on shares of Micron Technology in a research note on Friday, June 17th. Nomura raised Micron Technology from a “reduce” rating to a “buy” rating and upped their target price for the company from $8.00 to $18.00 in a report on Wednesday, June 22nd. Susquehanna raised Micron Technology from a “neutral” rating to a “positive” rating and upped their target price for the company from $10.00 to $18.00 in a report on Thursday, June 23rd. Brean Capital reaffirmed a “buy” rating and issued a $14.00 target price on shares of Micron Technology in a report on Monday, June 27th. Finally, MKM Partners reaffirmed a “buy” rating and issued a $19.00 target price on shares of Micron Technology in a report on Monday, June 27th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $18.42.

In related news, VP Scott J. Deboer sold 31,500 shares of the firm’s stock in a transaction on Monday, August 29th. The shares were sold at an average price of $17.05, for a total transaction of $537,075.00. Following the completion of the transaction, the vice president now owns 207,265 shares of the company’s stock, valued at $3,533,868.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP April S. Arnzen sold 11,424 shares of the firm’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $17.72, for a total transaction of $202,433.28. Following the transaction, the vice president now directly owns 39,993 shares of the company’s stock, valued at approximately $708,675.96. The disclosure for this sale can be found here. Corporate insiders own 0.85% of the company’s stock.

About Micron Technology

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