Catalyst Capital Advisors LLC Cuts Holdings in Micron Technology, Inc. (MU)

Catalyst Capital Advisors LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 29.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,500 shares of the semiconductor manufacturer’s stock after selling 21,700 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Micron Technology were worth $2,065,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Captrust Financial Advisors purchased a new stake in Micron Technology in the second quarter worth approximately $107,000. Jacobi Capital Management LLC boosted its stake in Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after buying an additional 2,600 shares in the last quarter. Shine Investment Advisory Services Inc. purchased a new stake in Micron Technology in the second quarter worth approximately $141,000. Krilogy Financial LLC boosted its stake in Micron Technology by 1,087.5% in the second quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after buying an additional 4,350 shares in the last quarter. Finally, MPS Loria Financial Planners LLC purchased a new stake in Micron Technology in the second quarter worth approximately $142,000. 76.85% of the stock is owned by institutional investors and hedge funds.

In related news, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total transaction of $133,650.00. Following the transaction, the director now directly owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total value of $340,000.00. Following the transaction, the executive vice president now directly owns 140,232 shares in the company, valued at $4,767,888. The disclosure for this sale can be found here. Over the last three months, insiders sold 308,415 shares of company stock valued at $11,836,825. Corporate insiders own 0.69% of the company’s stock.

Micron Technology, Inc. (NASDAQ MU) traded up $1.49 on Tuesday, reaching $49.13. The company had a trading volume of 17,062,486 shares, compared to its average volume of 28,893,215. Micron Technology, Inc. has a one year low of $18.18 and a one year high of $47.86. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51. The stock has a market cap of $54,940.00, a PE ratio of 10.40, a P/E/G ratio of 0.62 and a beta of 1.78.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company had revenue of $6.14 billion during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. Micron Technology’s revenue was up 90.8% compared to the same quarter last year. sell-side analysts anticipate that Micron Technology, Inc. will post 7.42 EPS for the current fiscal year.

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MU has been the subject of a number of analyst reports. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Mizuho reissued a “buy” rating and set a $38.00 price objective on shares of Micron Technology in a research note on Wednesday, August 16th. Citigroup Inc. reissued a “buy” rating and set a $45.00 price objective on shares of Micron Technology in a research note on Monday, August 14th. Cowen and Company reissued a “buy” rating on shares of Micron Technology in a research note on Thursday, August 10th. Finally, J P Morgan Chase & Co reissued a “buy” rating on shares of Micron Technology in a research note on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $47.20.

Micron Technology Company Profile

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

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