Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Micron Technology Inc. (NASDAQ:MU) by 2.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,041,441 shares of the semiconductor manufacturer’s stock after selling 70,063 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.29% of Micron Technology worth $41,850,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Sumitomo Mitsui Asset Management Company LTD raised its stake in Micron Technology by 0.7% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 82,578 shares of the semiconductor manufacturer’s stock valued at $1,136,000 after buying an additional 598 shares during the period. Henderson Group PLC raised its stake in Micron Technology by 0.8% in the second quarter. Henderson Group PLC now owns 2,299,580 shares of the semiconductor manufacturer’s stock valued at $31,608,000 after buying an additional 18,083 shares during the period. Quantitative Systematic Strategies LLC acquired a new stake in Micron Technology during the second quarter valued at $178,000. Standard Life Investments LTD acquired a new stake in Micron Technology during the second quarter valued at $89,591,000. Finally, CG Asset Management LLC raised its stake in Micron Technology by 18.6% in the second quarter. CG Asset Management LLC now owns 269,560 shares of the semiconductor manufacturer’s stock valued at $3,709,000 after buying an additional 42,300 shares during the period. Institutional investors and hedge funds own 81.43% of the company’s stock.

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

Shares of Micron Technology Inc. (NASDAQ:MU) traded up 2.47% during mid-day trading on Tuesday, hitting $17.41. 20,169,457 shares of the stock traded hands. Micron Technology Inc. has a one year low of $9.31 and a one year high of $19.05. The company’s 50 day moving average is $17.23 and its 200 day moving average is $13.63. The firm’s market capitalization is $18.05 billion.

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

Several equities research analysts recently weighed in on MU shares. Nomura upgraded shares of Micron Technology from a “reduce” rating to a “buy” rating and increased their price objective for the stock from $8.00 to $18.00 in a research note on Wednesday, June 22nd. Susquehanna upgraded shares of Micron Technology from a “neutral” rating to a “positive” rating and raised their price target for the company from $10.00 to $18.00 in a research note on Thursday, June 23rd. Brean Capital restated a “buy” rating and issued a $14.00 price target on shares of Micron Technology in a research note on Monday, June 27th. MKM Partners restated a “buy” rating and issued a $19.00 price target on shares of Micron Technology in a research note on Monday, June 27th. Finally, Pacific Crest restated a “hold” rating on shares of Micron Technology in a research note on Sunday, June 26th. Four analysts have rated the stock with a sell rating, six have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $18.42.

In other news, VP Scott J. Deboer sold 31,500 shares of the stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian Shirley sold 90,014 shares of the stock in a transaction dated Tuesday, October 4th. The shares were sold at an average price of $17.84, for a total transaction of $1,605,849.76. Following the completion of the transaction, the vice president now directly owns 397,264 shares in the company, valued at $7,087,189.76. The disclosure for this sale can be found here. Company insiders own 0.85% of the company’s stock.

About Micron Technology

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