Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Ingalls & Snyder LLC

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Ingalls & Snyder LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,580 shares of the semiconductor manufacturer’s stock after selling 850 shares during the quarter. Ingalls & Snyder LLC’s holdings in Micron Technology were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Old Port Advisors increased its holdings in shares of Micron Technology by 2.4% in the 4th quarter. Old Port Advisors now owns 8,180 shares of the semiconductor manufacturer’s stock valued at $438,000 after purchasing an additional 190 shares during the period. Cooper Financial Group increased its holdings in Micron Technology by 3.2% in the fourth quarter. Cooper Financial Group now owns 6,508 shares of the semiconductor manufacturer’s stock worth $350,000 after buying an additional 199 shares during the last quarter. Cornerstone Advisors Inc. increased its holdings in Micron Technology by 22.3% in the third quarter. Cornerstone Advisors Inc. now owns 1,251 shares of the semiconductor manufacturer’s stock worth $54,000 after buying an additional 228 shares during the last quarter. Xcel Wealth Management LLC increased its holdings in Micron Technology by 3.9% in the fourth quarter. Xcel Wealth Management LLC now owns 6,625 shares of the semiconductor manufacturer’s stock worth $356,000 after buying an additional 250 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in Micron Technology by 1.9% in the fourth quarter. Gateway Investment Advisers LLC now owns 13,744 shares of the semiconductor manufacturer’s stock worth $739,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 77.28% of the company’s stock.

MU opened at $56.17 on Thursday. Micron Technology, Inc. has a 1-year low of $32.14 and a 1-year high of $58.48. The company has a current ratio of 2.56, a quick ratio of 1.78 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $63.74 billion, a price-to-earnings ratio of 9.13 and a beta of 1.98. The business has a 50 day moving average of $52.50 and a 200-day moving average of $47.11.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.01. Micron Technology had a return on equity of 11.36% and a net margin of 17.01%. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business earned $2.97 earnings per share. Micron Technology’s revenue for the quarter was down 35.0% compared to the same quarter last year. Equities analysts predict that Micron Technology, Inc. will post 2.09 EPS for the current year.

A number of equities analysts recently commented on the company. Longbow Research restated a “buy” rating on shares of Micron Technology in a report on Monday, December 16th. Mizuho upped their target price on Micron Technology from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Credit Suisse Group reaffirmed a “buy” rating and set a $90.00 target price on shares of Micron Technology in a research report on Thursday, December 19th. Bank of America reaffirmed a “buy” rating and set a $70.00 target price on shares of Micron Technology in a research report on Thursday, December 19th. Finally, Susquehanna Bancshares reaffirmed a “buy” rating and set a $85.00 target price on shares of Micron Technology in a research report on Sunday, January 5th. Five analysts have rated the stock with a sell rating, five have given a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $61.24.

In related news, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $55.00, for a total value of $1,100,000.00. Following the completion of the transaction, the executive vice president now directly owns 148,368 shares in the company, valued at $8,160,240. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP April S. Arnzen sold 4,252 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $47.22, for a total value of $200,779.44. Following the completion of the transaction, the senior vice president now owns 101,439 shares of the company’s stock, valued at $4,789,949.58. The disclosure for this sale can be found here. Insiders sold 48,786 shares of company stock valued at $2,649,197 over the last three months. 0.18% of the stock is owned by company insiders.

About Micron Technology

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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

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