Eagle Asset Management Inc. increased its position in shares of Micron Technology Inc. (NASDAQ:MU) by 48.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,180,420 shares of the semiconductor manufacturer’s stock after buying an additional 385,111 shares during the period. Eagle Asset Management Inc. owned about 0.11% of Micron Technology worth $20,987,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its stake in shares of Micron Technology by 79.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 8,114 shares of the semiconductor manufacturer’s stock worth $111,000 after buying an additional 3,595 shares during the period. Washington Trust Bank increased its stake in shares of Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock worth $155,000 after buying an additional 289 shares during the period. Evercore Wealth Management LLC increased its stake in shares of Micron Technology by 0.7% in the second quarter. Evercore Wealth Management LLC now owns 10,016 shares of the semiconductor manufacturer’s stock worth $138,000 after buying an additional 67 shares during the period. Commerce Bank acquired a new stake in shares of Micron Technology during the second quarter worth about $147,000. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Micron Technology during the second quarter worth about $165,000. 84.26% of the stock is owned by institutional investors and hedge funds.

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

Micron Technology Inc. (NASDAQ:MU) traded down 0.2731% during mid-day trading on Tuesday, hitting $19.9354. The company had a trading volume of 14,532,059 shares. Micron Technology Inc. has a 12 month low of $9.31 and a 12 month high of $20.44. The company has a 50-day moving average price of $17.72 and a 200 day moving average price of $15.19. The firm’s market capitalization is $20.76 billion.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results 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. Micron Technology had a positive return on equity of 0.50% and a negative net margin of 2.23%. The company earned $3.22 billion during the quarter. During the same period in the prior year, the firm posted $0.37 EPS. The business’s revenue was down 10.6% compared to the same quarter last year. Equities analysts forecast that Micron Technology Inc. will post $1.17 EPS for the current fiscal year.

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A number of analysts recently weighed in on MU shares. Mizuho boosted their target price on Micron Technology from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Nomura reaffirmed a “buy” rating and issued a $16.00 price target on shares of Micron Technology in a research note on Thursday, August 4th. Brean Capital lifted their price target on Micron Technology from $14.00 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, August 16th. MKM Partners reaffirmed a “buy” rating and issued a $21.00 price target (up from $19.00) on shares of Micron Technology in a research note on Tuesday, August 16th. Finally, Vetr cut Micron Technology from a “strong-buy” rating to a “buy” rating and set a $17.58 price target on the stock. in a research note on Thursday, August 18th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $18.42.

In other news, VP Brian Shirley sold 90,014 shares of the business’s stock in a transaction dated Tuesday, October 4th. The stock was sold at an average price of $17.84, for a total value of $1,605,849.76. Following the completion of the transaction, the vice president now owns 397,264 shares of the company’s stock, valued at approximately $7,087,189.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP April S. Arnzen sold 11,424 shares of the business’s stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $17.72, for a total value of $202,433.28. Following the completion of 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. 0.85% of the stock is owned by insiders.

About Micron Technology

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