Alpha DNA Investment Management LLC Sells 861 Shares of Micron Technology, Inc. (NASDAQ:MU)

Alpha DNA Investment Management LLC trimmed its stake in Micron Technology, Inc. (NASDAQ:MU) by 12.3% during the second quarter, Holdings Channel reports. The fund owned 6,165 shares of the semiconductor manufacturer’s stock after selling 861 shares during the quarter. Alpha DNA Investment Management LLC’s holdings in Micron Technology were worth $811,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its stake in shares of Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares during the period. Chapin Davis Inc. bought a new position in Micron Technology in the 2nd quarter worth approximately $4,056,000. Norden Group LLC lifted its holdings in shares of Micron Technology by 1,916.7% during the first quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after buying an additional 47,648 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in shares of Micron Technology by 6.3% in the first quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after acquiring an additional 5,958 shares during the period. Finally, Westwood Holdings Group Inc. acquired a new stake in shares of Micron Technology in the first quarter worth $8,558,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of Micron Technology from $130.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Rosenblatt Securities reiterated a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research note on Tuesday, June 25th. Stifel Nicolaus lowered their price target on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a research note on Thursday, September 19th. The Goldman Sachs Group upped their price target on Micron Technology from $138.00 to $158.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Finally, Wedbush reissued an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $145.65.

Micron Technology Price Performance

Shares of MU opened at $94.00 on Wednesday. Micron Technology, Inc. has a one year low of $63.83 and a one year high of $157.54. The business’s 50 day simple moving average is $98.39 and its 200-day simple moving average is $114.77. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.41 and a quick ratio of 2.16.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $6.67 billion. During the same quarter in the previous year, the firm earned ($1.57) earnings per share. The business’s revenue was up 81.5% on a year-over-year basis. As a group, equities analysts anticipate that Micron Technology, Inc. will post 0.61 EPS for the current fiscal year.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $135.86, for a total transaction of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.32% of the stock is currently owned by company insiders.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.