Quentec Asset Management LLC cut its position in Micron Technology, Inc. (NASDAQ:MU) by 69.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 617,855 shares of the semiconductor manufacturer’s stock after selling 1,407,503 shares during the quarter. Micron Technology accounts for 2.4% of Quentec Asset Management LLC’s portfolio, making the stock its 8th largest position. Quentec Asset Management LLC owned 0.05% of Micron Technology worth $24,301,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Daiwa Securities Group Inc. boosted its stake in Micron Technology by 155.3% during the 2nd quarter. Daiwa Securities Group Inc. now owns 73,650 shares of the semiconductor manufacturer’s stock valued at $2,199,000 after acquiring an additional 44,800 shares during the last quarter. Retirement Systems of Alabama boosted its stake in Micron Technology by 0.6% during the 2nd quarter. Retirement Systems of Alabama now owns 504,213 shares of the semiconductor manufacturer’s stock valued at $15,056,000 after acquiring an additional 3,148 shares during the last quarter. Gilder Gagnon Howe & Co. LLC boosted its stake in Micron Technology by 43.1% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 39,261 shares of the semiconductor manufacturer’s stock valued at $1,172,000 after acquiring an additional 11,828 shares during the last quarter. HL Financial Services LLC boosted its stake in Micron Technology by 85.3% during the 2nd quarter. HL Financial Services LLC now owns 19,549 shares of the semiconductor manufacturer’s stock valued at $584,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in Micron Technology during the 2nd quarter valued at $141,000. Institutional investors and hedge funds own 81.16% of the company’s stock.

A number of research analysts have commented on MU shares. Cowen reiterated a “buy” rating on shares of Micron Technology in a research note on Thursday, August 10th. Citigroup reiterated a “buy” rating and set a $45.00 price objective on shares of Micron Technology in a research note on Monday, August 14th. Morgan Stanley reiterated an “overweight” rating and set a $36.00 price objective on shares of Micron Technology in a research note on Monday, August 14th. Mizuho reiterated a “buy” rating and set a $38.00 price objective on shares of Micron Technology in a research note on Wednesday, August 16th. Finally, BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Buy” and an average price target of $48.20.

Shares of Micron Technology, Inc. (NASDAQ MU) opened at $41.58 on Thursday. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. Micron Technology, Inc. has a twelve month low of $19.30 and a twelve month high of $49.89. The firm has a market cap of $47,525.64, a PE ratio of 9.28, a P/E/G ratio of 0.56 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter last year, the company earned ($0.01) EPS. The company’s revenue for the quarter was up 90.8% compared to the same quarter last year. analysts expect that Micron Technology, Inc. will post 7.42 earnings per share for the current year.

In related news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the sale, the senior vice president now owns 289,940 shares of the company’s stock, valued at approximately $11,046,714. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Joel L. Poppen sold 80,000 shares of the stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the completion of the sale, the insider now directly owns 266,966 shares in the company, valued at approximately $10,307,557.26. The disclosure for this sale can be found here. In the last ninety days, insiders sold 308,088 shares of company stock worth $11,852,538. Corporate insiders own 0.69% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was first published by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another website, it was illegally stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this news story can be viewed at https://www.thecerbatgem.com/2017/12/07/micron-technology-inc-mu-shares-sold-by-quentec-asset-management-llc.html.

Micron Technology Company Profile

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

Receive News & Stock Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related stocks with our FREE daily email newsletter.