Cornerstone Capital Management Holdings LLC. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 10.5% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,425,797 shares of the semiconductor manufacturer’s stock after selling 167,264 shares during the quarter. Cornerstone Capital Management Holdings LLC. owned about 0.13% of Micron Technology worth $42,572,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Empire Life Investments Inc. purchased a new stake in shares of Micron Technology during the 1st quarter worth $8,813,000. American Century Companies Inc. purchased a new stake in shares of Micron Technology during the 1st quarter worth $533,000. Envestnet Asset Management Inc. boosted its position in shares of Micron Technology by 69.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 36,738 shares of the semiconductor manufacturer’s stock worth $1,062,000 after purchasing an additional 15,053 shares in the last quarter. Neuberger Berman Group LLC boosted its position in shares of Micron Technology by 1.4% during the 1st quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock worth $359,000 after purchasing an additional 170 shares in the last quarter. Finally, Tredje AP fonden boosted its position in shares of Micron Technology by 147.4% during the 1st quarter. Tredje AP fonden now owns 169,059 shares of the semiconductor manufacturer’s stock worth $4,886,000 after purchasing an additional 100,723 shares in the last quarter. 79.32% of the stock is currently owned by institutional investors.

MU has been the topic of several research analyst reports. Mizuho restated a “buy” rating and set a $35.00 target price on shares of Micron Technology in a research report on Friday, June 16th. Citigroup Inc. restated a “buy” rating and set a $45.00 target price on shares of Micron Technology in a research report on Wednesday, August 2nd. BidaskClub upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 12th. Loop Capital reiterated a “buy” rating and issued a $48.00 price objective (up from $46.00) on shares of Micron Technology in a research report on Wednesday, September 27th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $75.00 price objective on shares of Micron Technology in a research report on Tuesday, September 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. Micron Technology presently has an average rating of “Buy” and an average target price of $44.41.

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Micron Technology, Inc. (NASDAQ MU) traded up 0.35% during trading on Thursday, hitting $39.70. The stock had a trading volume of 10,863,347 shares. The company’s 50-day moving average is $33.83 and its 200 day moving average is $30.45. Micron Technology, Inc. has a 52 week low of $16.17 and a 52 week high of $40.54. The firm has a market cap of $44.07 billion, a PE ratio of 17.44 and a beta of 1.82.

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

In other news, CFO Ernest E. Maddock acquired 3,400 shares of the firm’s stock in a transaction dated Friday, August 11th. The shares were bought at an average price of $27.89 per share, with a total value of $94,826.00. Following the acquisition, the chief financial officer now owns 192,385 shares of the company’s stock, valued at $5,365,617.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Brian Shirley sold 27,250 shares of Micron Technology stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total value of $859,465.00. Following the sale, the senior vice president now directly owns 292,211 shares in the company, valued at approximately $9,216,334.94. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,715 shares of company stock worth $11,480,040. Company insiders own 0.69% of the company’s stock.

About Micron Technology

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

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