Micron Technology Inc. (NASDAQ:MU) was the target of a significant decrease in short interest during the month of September. As of September 30th, there was short interest totalling 70,450,184 shares, a decrease of 8.7% from the September 15th total of 77,137,452 shares. Based on an average daily volume of 27,098,908 shares, the days-to-cover ratio is presently 2.6 days. Currently, 6.8% of the shares of the stock are short sold.

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

Several hedge funds and other institutional investors have recently modified their holdings of the company. AMP Capital Investors Ltd increased its position in shares of Micron Technology by 12.5% in the first quarter. AMP Capital Investors Ltd now owns 992,092 shares of the semiconductor manufacturer’s stock valued at $10,398,000 after buying an additional 110,325 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Micron Technology by 241.6% in the first quarter. Nuveen Asset Management LLC now owns 639,109 shares of the semiconductor manufacturer’s stock valued at $6,692,000 after buying an additional 452,022 shares during the last quarter. Prudential PLC increased its position in shares of Micron Technology by 21.9% in the first quarter. Prudential PLC now owns 311,043 shares of the semiconductor manufacturer’s stock valued at $3,256,000 after buying an additional 55,827 shares during the last quarter. Baker Avenue Asset Management LP boosted its stake in Micron Technology by 18.6% in the first quarter. Baker Avenue Asset Management LP now owns 58,419 shares of the semiconductor manufacturer’s stock valued at $612,000 after buying an additional 9,168 shares during the period. Finally, Primecap Management Co. CA boosted its stake in 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. 81.42% of the stock is currently owned by institutional investors.

A number of equities analysts have recently weighed in on MU shares. Cleveland Research raised shares of Micron Technology from a “neutral” rating to a “buy” rating in a research report on Friday, September 16th. Nomura lifted their price target on shares of Micron Technology from $16.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, August 25th. Mizuho reissued a “buy” rating and set a $20.00 price target on shares of Micron Technology in a research report on Friday, September 23rd. Deutsche Bank AG reissued a “buy” rating and set a $20.00 price target on shares of Micron Technology in a research report on Wednesday, October 5th. Finally, Pacific Crest reissued an “equal weight” rating on shares of Micron Technology in a research report on Monday, September 12th. Four analysts have rated the stock with a sell rating, six have given a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $18.42.

Shares of Micron Technology (NASDAQ:MU) opened at 16.85 on Friday. The company’s market capitalization is $17.47 billion. The stock has a 50 day moving average of $17.19 and a 200-day moving average of $13.49. Micron Technology has a 1-year low of $9.31 and a 1-year high of $19.22.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, October 4th. The semiconductor manufacturer reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.12. Micron Technology had a negative net margin of 2.23% and a positive return on equity of 0.50%. The company had revenue of $3.22 billion for the quarter. During the same period in the previous year, the firm earned $0.37 earnings per share. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. Analysts forecast that Micron Technology will post $1.12 earnings per share for the current year.

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