Micron Technology (NASDAQ:MU) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in shares of Micron Technology (NASDAQ:MU) by 21.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,081,134 shares of the semiconductor manufacturer’s stock after selling 563,381 shares during the period. Alliancebernstein L.P. owned about 0.18% of Micron Technology worth $85,576,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of MU. SevenBridge Financial Group LLC increased its stake in Micron Technology by 87.5% during the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after acquiring an additional 1,190 shares during the last quarter. Salem Investment Counselors Inc. increased its stake in Micron Technology by 76.0% during the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after acquiring an additional 1,252 shares during the last quarter. Intrust Bank NA increased its stake in Micron Technology by 9.0% during the fourth quarter. Intrust Bank NA now owns 15,287 shares of the semiconductor manufacturer’s stock worth $629,000 after acquiring an additional 1,264 shares during the last quarter. First Republic Investment Management Inc. increased its stake in Micron Technology by 12.5% during the third quarter. First Republic Investment Management Inc. now owns 11,960 shares of the semiconductor manufacturer’s stock worth $470,000 after acquiring an additional 1,329 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Micron Technology by 5.0% during the third quarter. D.A. Davidson & CO. now owns 30,175 shares of the semiconductor manufacturer’s stock valued at $1,186,000 after buying an additional 1,425 shares during the period. 82.49% of the stock is currently owned by institutional investors and hedge funds.

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In related news, SVP April S. Arnzen sold 1,222 shares of Micron Technology stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $43.77, for a total transaction of $53,486.94. Following the sale, the senior vice president now directly owns 57,969 shares in the company, valued at approximately $2,537,303.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Scott J. Deboer sold 14,750 shares of Micron Technology stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $43.28, for a total transaction of $638,380.00. Following the sale, the executive vice president now owns 134,854 shares in the company, valued at $5,836,481.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 39,199 shares of company stock valued at $1,893,807. Corporate insiders own 0.53% of the company’s stock.

MU stock traded down $2.08 during midday trading on Monday, hitting $50.06. The company’s stock had a trading volume of 59,864,699 shares, compared to its average volume of 52,771,781. The company has a quick ratio of 2.06, a current ratio of 2.58 and a debt-to-equity ratio of 0.29. Micron Technology has a 52-week low of $26.36 and a 52-week high of $63.42. The stock has a market capitalization of $60,470.15, a PE ratio of 11.35, a P/E/G ratio of 0.48 and a beta of 1.32.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.27. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. The company had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.28 billion. During the same quarter last year, the company posted $0.90 EPS. The firm’s revenue was up 58.2% compared to the same quarter last year. analysts expect that Micron Technology will post 10.85 EPS for the current fiscal year.

MU has been the subject of several recent analyst reports. JPMorgan Chase boosted their target price on Micron Technology from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, March 23rd. Cowen set a $53.00 price target on Micron Technology and gave the company a “buy” rating in a report on Wednesday, February 21st. BidaskClub lowered Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Zacks Investment Research lowered Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, December 22nd. Finally, BMO Capital Markets upped their price target on Micron Technology from $43.00 to $63.00 and gave the stock a “market perform” rating in a research report on Wednesday, March 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-four have given a buy rating and three have issued a strong buy rating to the company’s stock. Micron Technology presently has a consensus rating of “Buy” and a consensus target price of $65.32.

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About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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

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