Capital Growth Management LP reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,250,000 shares of the semiconductor manufacturer’s stock after selling 380,000 shares during the period. Micron Technology accounts for about 3.1% of Capital Growth Management LP’s holdings, making the stock its 6th biggest position. Capital Growth Management LP owned approximately 0.20% of Micron Technology worth $67,185,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after acquiring an additional 4,004,759 shares during the period. Dimensional Fund Advisors LP raised its position in Micron Technology by 0.8% in the first quarter. Dimensional Fund Advisors LP now owns 14,005,627 shares of the semiconductor manufacturer’s stock worth $404,753,000 after acquiring an additional 117,152 shares during the period. Geode Capital Management LLC raised its position in Micron Technology by 11.4% in the first quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after acquiring an additional 1,128,565 shares during the period. Amerigo Asset Management raised its position in Micron Technology by 11.9% in the second quarter. Amerigo Asset Management now owns 8,077,460 shares of the semiconductor manufacturer’s stock worth $241,193,000 after acquiring an additional 860,000 shares during the period. Finally, CI Investments Inc. raised its position in Micron Technology by 2.7% in the second quarter. CI Investments Inc. now owns 7,535,000 shares of the semiconductor manufacturer’s stock worth $224,995,000 after acquiring an additional 200,150 shares during the period. 79.32% of the stock is currently owned by institutional investors.

Several equities analysts have recently weighed in on the stock. UBS AG reiterated an “average” rating and issued a $36.00 target price (up previously from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a research note on Thursday, June 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $47.00 target price on shares of Micron Technology in a research note on Tuesday, June 6th. ValuEngine downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. Finally, BidaskClub downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-nine have issued a buy rating and two have given a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and an average price target of $37.08.

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Micron Technology, Inc. (NASDAQ:MU) traded up 1.13% during midday trading on Tuesday, reaching $35.83. 11,330,682 shares of the company were exchanged. Micron Technology, Inc. has a 52 week low of $16.17 and a 52 week high of $35.97. The company has a 50-day moving average of $30.81 and a 200 day moving average of $29.47. The firm has a market capitalization of $39.77 billion, a PE ratio of 15.74 and a beta of 1.75.

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

In related news, SVP April S. Arnzen sold 1,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $30.12, for a total value of $30,120.00. Following the completion of the sale, the senior vice president now directly owns 51,542 shares in the company, valued at $1,552,445.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $34.00, for a total value of $340,000.00. Following the completion of the sale, the executive vice president now owns 140,232 shares of the company’s stock, valued at $4,767,888. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,577 shares of company stock valued at $2,305,192. 0.69% of the stock is owned by corporate insiders.

Micron Technology Profile

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

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