QS Investors LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 113,580 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,638 shares during the quarter. QS Investors LLC’s holdings in Micron Technology were worth $3,391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Guardian Life Insurance Co. of America boosted its stake in Micron Technology by 0.3% during the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after acquiring an additional 13 shares in the last quarter. Wetherby Asset Management Inc. boosted its stake in Micron Technology by 1.0% during the second quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $457,000 after acquiring an additional 154 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Micron Technology by 1.4% during the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock worth $359,000 after acquiring an additional 170 shares in the last quarter. Honkamp Krueger Financial Services Inc. boosted its stake in Micron Technology by 0.4% during the second quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock worth $1,556,000 after acquiring an additional 221 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Micron Technology by 0.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock worth $2,307,000 after acquiring an additional 367 shares in the last quarter. 79.32% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Ernest E. Maddock bought 3,400 shares of the stock in a transaction dated Friday, August 11th. The stock was purchased at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the transaction, the chief financial officer now owns 192,385 shares of the company’s stock, valued at $5,365,617.65. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $39.86, for a total value of $119,580.00. Following the transaction, the director now owns 114,284 shares of the company’s stock, valued at $4,555,360.24. The disclosure for this sale can be found here. Insiders sold a total of 314,715 shares of company stock valued at $11,480,040 over the last 90 days. 0.69% of the stock is currently owned by corporate insiders.

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MU has been the topic of a number of recent research reports. UBS AG reaffirmed an “average” rating and issued a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. BMO Capital Markets initiated coverage on shares of Micron Technology in a research note on Monday. They issued a “market perform” rating and a $43.00 price objective on the stock. Macquarie reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Micron Technology in a research note on Wednesday, June 14th. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, Goldman Sachs Group, Inc. (The) raised shares of Micron Technology from a “neutral” rating to a “buy” rating and raised their price objective for the company from $33.00 to $40.00 in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $44.41.

Shares of Micron Technology, Inc. (NASDAQ MU) opened at 39.56 on Thursday. The firm’s 50-day moving average is $33.83 and its 200 day moving average is $30.45. The company has a market capitalization of $43.91 billion, a price-to-earnings ratio of 17.37 and a beta of 1.82. Micron Technology, Inc. has a 12 month low of $16.17 and a 12 month high of $40.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the prior year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was up 90.8% compared to the same quarter last year. Equities analysts expect that Micron Technology, Inc. will post $7.55 EPS for the current year.

About Micron Technology

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

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