State of Alaska Department of Revenue Cuts Stake in Micron Technology, Inc. (MU)

State of Alaska Department of Revenue decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 39.7% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,421 shares of the semiconductor manufacturer’s stock after selling 8,850 shares during the period. State of Alaska Department of Revenue’s holdings in Micron Technology were worth $400,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Wynnefield Capital Inc. acquired a new stake in shares of Micron Technology during the first quarter valued at $13,519,000. Guardian Life Insurance Co. of America boosted its stake in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the period. First Personal Financial Services boosted its stake in shares of Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock valued at $122,000 after buying an additional 2,083 shares during the period. Washington Trust Bank boosted its position in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares during the last quarter. Finally, Coconut Grove Bank boosted its position in shares of Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock valued at $156,000 after buying an additional 5,050 shares during the last quarter. Institutional investors and hedge funds own 80.44% of the company’s stock.

Micron Technology, Inc. (NASDAQ MU) traded up 1.89% during mid-day trading on Friday, reaching $28.01. The company had a trading volume of 23,375,939 shares. The stock has a market capitalization of $31.09 billion, a price-to-earnings ratio of 12.30 and a beta of 1.76. Micron Technology, Inc. has a 52 week low of $15.08 and a 52 week high of $32.96. The stock has a 50 day moving average of $30.24 and a 200 day moving average of $27.97.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.25. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The firm’s revenue for the quarter was up 92.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) earnings per share. Analysts anticipate that Micron Technology, Inc. will post $4.71 earnings per share for the current year.

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Several equities research analysts recently issued reports on the stock. UBS AG reaffirmed an “average” rating and set a $36.00 price target (up from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Macquarie reissued an “outperform” rating and set a $35.00 target price on shares of Micron Technology in a report on Wednesday, June 14th. Standpoint Research lowered shares of Micron Technology from a “buy” rating to a “reduce” rating in a research note on Wednesday, May 24th. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, ValuEngine lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 31st. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $35.65.

In other news, VP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the transaction, the vice president now directly owns 150,232 shares of the company’s stock, valued at approximately $4,807,424. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $28.47, for a total value of $85,410.00. Following the completion of the sale, the director now directly owns 120,284 shares of the company’s stock, valued at $3,424,485.48. The disclosure for this sale can be found here. Insiders sold 46,250 shares of company stock worth $1,442,015 in the last 90 days. Company insiders own 0.69% of the company’s stock.

Micron Technology Company Profile

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

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