Oakworth Capital Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,937 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,330 shares during the quarter. Oakworth Capital Inc.’s holdings in Micron Technology were worth $615,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also made changes to their positions in the company. Jupiter Wealth Management LLC bought a new stake in Micron Technology during the 2nd quarter worth approximately $325,000. Mondrian Capital Management LLC bought a new stake in Micron Technology during the 2nd quarter worth approximately $4,245,000. Employers Holdings Inc. bought a new stake in Micron Technology during the 2nd quarter worth approximately $174,000. Yacktman Asset Management LP increased its holdings in Micron Technology by 0.6% during the 2nd quarter. Yacktman Asset Management LP now owns 525,045 shares of the semiconductor manufacturer’s stock worth $20,261,000 after purchasing an additional 3,246 shares in the last quarter. Finally, Comerica Bank increased its holdings in Micron Technology by 2.8% during the 2nd quarter. Comerica Bank now owns 211,577 shares of the semiconductor manufacturer’s stock worth $9,176,000 after purchasing an additional 5,751 shares in the last quarter. 77.42% of the stock is currently owned by institutional investors.
In related news, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction that occurred 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 owns 130,236 shares in the company, valued at $5,860,620. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP April S. Arnzen sold 4,800 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $45.00, for a total value of $216,000.00. Following the completion of the transaction, the senior vice president now owns 79,392 shares in the company, valued at approximately $3,572,640. The disclosure for this sale can be found here. In the last quarter, insiders sold 57,244 shares of company stock worth $2,624,899. 0.20% of the stock is owned by company insiders.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, beating the consensus estimate of $0.75 by $0.30. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The business had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter in the prior year, the business earned $3.15 earnings per share. Micron Technology’s revenue for the quarter was down 38.6% on a year-over-year basis. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.06 EPS for the current fiscal year.
MU has been the subject of a number of recent research reports. Zacks Investment Research raised Micron Technology from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Cfra lowered Micron Technology to a “sell” rating and set a $32.00 price objective for the company. in a report on Wednesday, May 22nd. Nomura reduced their target price on Micron Technology from $45.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Morgan Stanley raised Micron Technology from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $31.00 to $48.00 in a report on Tuesday, July 30th. Finally, Stifel Nicolaus reduced their target price on Micron Technology from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, May 31st. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $48.27.
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.
See Also: What does a hold rating mean?
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).
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.