Micron Technology, Inc. (MU) Stake Lessened by Cornerstone Wealth Management LLC

Cornerstone Wealth Management LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 76.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,268 shares of the semiconductor manufacturer’s stock after selling 187,743 shares during the period. Cornerstone Wealth Management LLC’s holdings in Micron Technology were worth $1,447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in the company. Alpha Cubed Investments LLC increased its position in Micron Technology by 9.9% in the second quarter. Alpha Cubed Investments LLC now owns 10,501 shares of the semiconductor manufacturer’s stock worth $551,000 after purchasing an additional 950 shares during the last quarter. Brighton Jones LLC increased its position in Micron Technology by 18.7% in the second quarter. Brighton Jones LLC now owns 6,602 shares of the semiconductor manufacturer’s stock worth $346,000 after purchasing an additional 1,038 shares during the last quarter. Alethea Capital Management LLC bought a new stake in Micron Technology in the second quarter worth $134,000. Fisher Asset Management LLC increased its position in Micron Technology by 18.8% in the second quarter. Fisher Asset Management LLC now owns 6,932 shares of the semiconductor manufacturer’s stock worth $364,000 after purchasing an additional 1,096 shares during the last quarter. Finally, BB&T Corp increased its position in Micron Technology by 5.2% in the second quarter. BB&T Corp now owns 22,486 shares of the semiconductor manufacturer’s stock worth $1,179,000 after purchasing an additional 1,110 shares during the last quarter. Hedge funds and other institutional investors own 75.48% of the company’s stock.

MU has been the topic of a number of analyst reports. MKM Partners reiterated a “buy” rating and set a $63.00 price objective (down previously from $77.00) on shares of Micron Technology in a research report on Thursday, September 13th. Goldman Sachs Group set a $68.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Wednesday, July 18th. Stifel Nicolaus set a $108.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Thursday, July 5th. Deutsche Bank reiterated a “buy” rating and set a $80.00 price objective on shares of Micron Technology in a research report on Thursday, September 6th. They noted that the move was a valuation call. Finally, Cowen cut their price objective on shares of Micron Technology from $72.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, September 18th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $66.92.



Shares of MU opened at $36.01 on Wednesday. The firm has a market cap of $40.15 billion, a PE ratio of 3.05, a P/E/G ratio of 0.55 and a beta of 1.55. Micron Technology, Inc. has a 12-month low of $33.82 and a 12-month high of $64.66. The company has a quick ratio of 2.16, a current ratio of 2.79 and a debt-to-equity ratio of 0.11.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.33 by $0.20. The firm had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The business’s revenue was up 37.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.02 earnings per share. Analysts predict that Micron Technology, Inc. will post 10.19 EPS for the current year.

Micron Technology Company Profile

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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

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