Founders Capital Management Sells 300 Shares of Micron Technology, Inc. (NASDAQ:MU)

Founders Capital Management decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 10.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,500 shares of the semiconductor manufacturer’s stock after selling 300 shares during the period. Founders Capital Management’s holdings in Micron Technology were worth $107,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. lifted its stake in Micron Technology by 1.0% during the 2nd quarter. BlackRock Inc. now owns 73,370,753 shares of the semiconductor manufacturer’s stock valued at $2,831,377,000 after acquiring an additional 717,819 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Micron Technology by 56.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 29,459,631 shares of the semiconductor manufacturer’s stock valued at $1,136,847,000 after acquiring an additional 10,672,909 shares during the period. Northern Trust Corp lifted its stake in Micron Technology by 8.0% during the 2nd quarter. Northern Trust Corp now owns 13,355,786 shares of the semiconductor manufacturer’s stock valued at $515,401,000 after acquiring an additional 986,786 shares during the period. Renaissance Technologies LLC lifted its stake in Micron Technology by 154.2% during the 2nd quarter. Renaissance Technologies LLC now owns 9,735,914 shares of the semiconductor manufacturer’s stock valued at $375,709,000 after acquiring an additional 5,905,239 shares during the period. Finally, Viking Global Investors LP lifted its stake in shares of Micron Technology by 180.9% in the 2nd quarter. Viking Global Investors LP now owns 6,431,167 shares of the semiconductor manufacturer’s stock worth $248,179,000 after purchasing an additional 4,141,275 shares during the period. Institutional investors own 76.66% of the company’s stock.

MU traded up $0.48 during trading on Thursday, reaching $43.36. 4,683,041 shares of the company traded hands, compared to its average volume of 25,189,012. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.78 and a current ratio of 2.58. The company has a market cap of $48.25 billion, a P/E ratio of 7.05 and a beta of 1.97. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $51.39. The firm has a fifty day simple moving average of $46.30 and a 200 day simple moving average of $41.62.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.13. The firm had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.56 billion. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The company’s quarterly revenue was down 42.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.53 EPS. As a group, sell-side analysts expect that Micron Technology, Inc. will post 2.31 earnings per share for the current fiscal year.

MU has been the topic of several recent research reports. Goldman Sachs Group increased their price objective on shares of Micron Technology from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Cowen increased their price objective on shares of Micron Technology from $38.00 to $46.00 and gave the stock a “market perform” rating in a research note on Wednesday, September 25th. Wells Fargo & Co increased their price objective on shares of Micron Technology from $50.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Mizuho set a $50.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Wedbush increased their price objective on shares of Micron Technology from $30.00 to $44.00 and gave the stock a “neutral” rating in a research note on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $53.36.

In other Micron Technology news, SVP April S. Arnzen sold 4,800 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $45.00, for a total transaction of $216,000.00. Following the completion of the transaction, the senior vice president now owns 79,392 shares of the company’s stock, valued at $3,572,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the executive vice president now directly owns 130,236 shares of the company’s stock, valued at approximately $5,860,620. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 82,212 shares of company stock valued at $3,857,055. 0.20% of the stock is currently owned by insiders.

Micron Technology Company Profile

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.

Recommended Story: How prevalent are 12b-1 fees?

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.