Riverhead Capital Management LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 98.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,841 shares of the semiconductor manufacturer’s stock after selling 6,082,052 shares during the period. Riverhead Capital Management LLC’s holdings in Micron Technology were worth $3,250,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MU. Guardian Life Insurance Co. of America raised its position in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares in the last quarter. First Personal Financial Services raised its position in shares of Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in shares of Micron Technology in the second quarter worth $141,000. D. Scott Neal Inc. purchased a new stake in shares of Micron Technology in the second quarter worth $190,000. Finally, Sumitomo Mitsui Financial Group Inc. purchased a new stake in shares of Micron Technology in the second quarter worth $200,000. 79.34% of the stock is owned by hedge funds and other institutional investors.

In other news, SVP Brian Shirley sold 27,250 shares of Micron Technology stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $31.54, for a total transaction of $859,465.00. Following the sale, the senior vice president now owns 292,211 shares in the company, valued at $9,216,334.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $29.35, for a total transaction of $88,050.00. Following the sale, the director now owns 124,384 shares in the company, valued at approximately $3,650,670.40. The disclosure for this sale can be found here. Insiders have sold 63,577 shares of company stock worth $1,965,192 in the last quarter. Insiders own 0.69% of the company’s stock.

Shares of Micron Technology, Inc. (MU) opened at 34.63 on Wednesday. Micron Technology, Inc. has a 12 month low of $16.17 and a 12 month high of $34.80. The stock’s 50 day moving average is $30.16 and its 200 day moving average is $29.08. The stock has a market capitalization of $38.44 billion, a PE ratio of 15.21 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The business’s quarterly revenue was up 92.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) earnings per share. Analysts anticipate that Micron Technology, Inc. will post $4.72 earnings per share for the current fiscal year.

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A number of equities research analysts recently issued reports on MU shares. Mizuho reiterated a “buy” rating and issued a $35.00 price objective on shares of Micron Technology in a research report on Friday, June 16th. Citigroup Inc. restated a “buy” rating and set a $45.00 price target on shares of Micron Technology in a research report on Wednesday, August 2nd. BidaskClub upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Robert W. Baird restated an “outperform” rating and set a $48.00 price target on shares of Micron Technology in a research report on Wednesday, August 23rd. Finally, Loop Capital restated a “buy” rating and set a $40.00 price target on shares of Micron Technology in a research report on Friday, June 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-nine have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.27.

Micron Technology Profile

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

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