ProShare Advisors LLC Purchases 74,919 Shares of Micron Technology, Inc. (MU)

ProShare Advisors LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 17.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 499,891 shares of the semiconductor manufacturer’s stock after acquiring an additional 74,919 shares during the quarter. ProShare Advisors LLC’s holdings in Micron Technology were worth $14,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Micron Technology by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after acquiring an additional 4,004,759 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Micron Technology by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 14,005,627 shares of the semiconductor manufacturer’s stock worth $404,753,000 after acquiring an additional 117,152 shares in the last quarter. Geode Capital Management LLC increased its holdings in Micron Technology by 11.4% in the 1st quarter. Geode Capital Management LLC now owns 11,008,178 shares of the semiconductor manufacturer’s stock worth $317,719,000 after acquiring an additional 1,128,565 shares in the last quarter. Amerigo Asset Management increased its holdings in Micron Technology by 11.9% in the 2nd quarter. Amerigo Asset Management now owns 8,077,460 shares of the semiconductor manufacturer’s stock worth $241,193,000 after acquiring an additional 860,000 shares in the last quarter. Finally, CI Investments Inc. increased its holdings in Micron Technology by 2.7% in the 2nd quarter. CI Investments Inc. now owns 7,535,000 shares of the semiconductor manufacturer’s stock worth $224,995,000 after acquiring an additional 200,150 shares in the last quarter. 79.34% of the stock is owned by institutional investors.

Several equities research analysts recently commented on MU shares. Zacks Investment Research lowered shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 24th. Standpoint Research lowered shares of Micron Technology from a “buy” rating to a “reduce” rating in a report on Wednesday, May 24th. Morgan Stanley reissued an “overweight” rating and issued a $34.00 price target on shares of Micron Technology in a report on Wednesday, May 31st. ValuEngine lowered shares of Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 31st. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $47.00 price target on shares of Micron Technology in a report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. Micron Technology has a consensus rating of “Buy” and an average price target of $36.27.

In other news, SVP Brian Shirley sold 27,250 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total value of $859,465.00. Following the completion of the sale, the senior vice president now directly owns 292,211 shares in the company, valued at approximately $9,216,334.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $29.35, for a total value of $88,050.00. Following the completion of the sale, the director now owns 124,384 shares of the company’s stock, valued at $3,650,670.40. The disclosure for this sale can be found here. Insiders have sold a total of 73,577 shares of company stock worth $2,305,192 over the last 90 days. 0.69% of the stock is owned by company insiders.

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Shares of Micron Technology, Inc. (MU) traded up 0.20% during trading on Friday, reaching $34.65. The company had a trading volume of 37,417,250 shares. The firm has a 50-day moving average price of $30.63 and a 200-day moving average price of $29.31. Micron Technology, Inc. has a 52-week low of $16.17 and a 52-week high of $35.00. The company has a market capitalization of $38.46 billion, a P/E ratio of 15.22 and a beta of 1.75.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.25. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the previous year, the business earned ($0.08) EPS. Micron Technology’s revenue for the quarter was up 92.2% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post $4.72 EPS for the current fiscal year.

Micron Technology Profile

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

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