Prime Capital Investment Advisors LLC Has $267,000 Stake in Micron Technology, Inc. (MU)

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Prime Capital Investment Advisors LLC lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 90.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,450 shares of the semiconductor manufacturer’s stock after selling 64,627 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Micron Technology were worth $267,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in MU. Verition Fund Management LLC purchased a new stake in Micron Technology in the third quarter valued at approximately $219,000. Advisors Asset Management Inc. raised its position in Micron Technology by 51.4% in the third quarter. Advisors Asset Management Inc. now owns 16,625 shares of the semiconductor manufacturer’s stock valued at $752,000 after purchasing an additional 5,642 shares during the period. Mackenzie Financial Corp raised its position in Micron Technology by 6.0% in the third quarter. Mackenzie Financial Corp now owns 26,611 shares of the semiconductor manufacturer’s stock valued at $1,204,000 after purchasing an additional 1,513 shares during the period. Macquarie Group Ltd. raised its position in Micron Technology by 18.5% in the third quarter. Macquarie Group Ltd. now owns 2,447,800 shares of the semiconductor manufacturer’s stock valued at $110,713,000 after purchasing an additional 382,856 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new stake in Micron Technology in the third quarter valued at approximately $2,343,000. 77.20% of the stock is currently owned by hedge funds and other institutional investors.

In related news, SVP April S. Arnzen sold 21,182 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total value of $834,358.98. Following the completion of the sale, the senior vice president now directly owns 86,992 shares of the company’s stock, valued at $3,426,614.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Joel L. Poppen sold 20,210 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $41.45, for a total transaction of $837,704.50. Following the completion of the sale, the senior vice president now directly owns 269,368 shares of the company’s stock, valued at $11,165,303.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 55,878 shares of company stock valued at $2,293,223. Insiders own 0.20% of the company’s stock.

MU has been the subject of several research reports. Royal Bank of Canada downgraded shares of Micron Technology from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $59.00 to $40.00 in a research note on Wednesday, December 19th. Piper Jaffray Companies dropped their price target on shares of Micron Technology to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, December 19th. Wells Fargo & Co dropped their price target on shares of Micron Technology from $63.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. They noted that the move was a valuation call. BMO Capital Markets downgraded shares of Micron Technology to a “market perform” rating and boosted their price target for the stock from $7.64 to $32.00 in a research note on Wednesday, December 19th. Finally, Needham & Company LLC downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, December 19th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty have given a buy rating to the company’s stock. Micron Technology has a consensus rating of “Hold” and an average price target of $55.85.

Shares of MU stock opened at $42.76 on Wednesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.25 and a quick ratio of 1.65. The firm has a market cap of $46.28 billion, a P/E ratio of 3.62, a PEG ratio of 1.05 and a beta of 1.87. Micron Technology, Inc. has a 12 month low of $28.39 and a 12 month high of $64.66.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The firm had revenue of $5.84 billion during the quarter, compared to the consensus estimate of $5.82 billion. Micron Technology had a net margin of 43.56% and a return on equity of 40.67%. The company’s revenue was down 20.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.82 earnings per share. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.27 earnings per share for the current year.

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Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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