ZWJ Investment Counsel Inc. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 2.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 611,914 shares of the semiconductor manufacturer’s stock after selling 17,175 shares during the period. Micron Technology comprises 1.5% of ZWJ Investment Counsel Inc.’s portfolio, making the stock its 29th largest position. ZWJ Investment Counsel Inc. owned 0.06% of Micron Technology worth $18,272,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of MU. Nippon Life Insurance Co. boosted its position in shares of Micron Technology by 18.5% in the second quarter. Nippon Life Insurance Co. now owns 44,124 shares of the semiconductor manufacturer’s stock valued at $1,318,000 after buying an additional 6,884 shares in the last quarter. KBC Group NV boosted its position in shares of Micron Technology by 82.8% in the second quarter. KBC Group NV now owns 1,129,038 shares of the semiconductor manufacturer’s stock valued at $33,714,000 after buying an additional 511,250 shares in the last quarter. BARING ASSET MANAGEMENT Ltd boosted its position in shares of Micron Technology by 318.5% in the second quarter. BARING ASSET MANAGEMENT Ltd now owns 53,598 shares of the semiconductor manufacturer’s stock valued at $1,601,000 after buying an additional 40,792 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Micron Technology by 6.7% in the second quarter. Legal & General Group Plc now owns 5,547,614 shares of the semiconductor manufacturer’s stock valued at $165,662,000 after buying an additional 347,201 shares in the last quarter. Finally, Alps Advisors Inc. boosted its position in shares of Micron Technology by 37.1% in the second quarter. Alps Advisors Inc. now owns 30,527 shares of the semiconductor manufacturer’s stock valued at $912,000 after buying an additional 8,254 shares in the last quarter. 80.36% of the stock is owned by institutional investors and hedge funds.
Micron Technology, Inc. (NASDAQ:MU) opened at 30.38 on Friday. Micron Technology, Inc. has a 1-year low of $15.38 and a 1-year high of $32.96. The stock has a 50 day moving average of $29.95 and a 200 day moving average of $28.20. The stock has a market capitalization of $33.72 billion, a P/E ratio of 13.34 and a beta of 1.76. Micron Technology also saw some unusual options trading activity on Wednesday. Stock traders purchased 41,784 put options on the company. This represents an increase of 107% compared to the typical daily volume of 20,197 put options.
Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating 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 net margin of 14.66% and a return on equity of 19.05%. The firm’s quarterly revenue was up 92.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) EPS. On average, analysts expect that Micron Technology, Inc. will post $4.71 earnings per share for the current year.
A number of brokerages have issued reports on MU. UBS AG reiterated an “average” rating and issued a $36.00 price target (up from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Mizuho reiterated a “buy” rating and issued a $35.00 price target on shares of Micron Technology in a report on Tuesday, April 25th. Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a report on Thursday, June 8th. Stifel Nicolaus reiterated a “buy” rating and issued a $47.00 price target on shares of Micron Technology in a report on Tuesday, June 6th. Finally, ValuEngine downgraded shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 31st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $35.65.
In other news, Director Lawrence N. Mondry sold 25,000 shares of the stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $30.62, for a total transaction of $765,500.00. Following the transaction, the director now directly owns 177,367 shares in the company, valued at approximately $5,430,977.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Scott J. Deboer sold 10,000 shares of the 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 transaction, the vice president now owns 150,232 shares in the company, valued at $4,807,424. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,250 shares of company stock worth $2,207,515. 0.69% of the stock is owned by insiders.
Micron Technology Company Profile
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