Rock Creek Group LP purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,615 shares of the semiconductor manufacturer’s stock, valued at approximately $294,000.
Other large investors also recently made changes to their positions in the company. Financial Advisors Network Inc. grew its position in Micron Technology by 5.7% in the second quarter. Financial Advisors Network Inc. now owns 31,161 shares of the semiconductor manufacturer’s stock valued at $1,301,000 after acquiring an additional 1,673 shares during the period. Atalanta Sosnoff Capital LLC bought a new stake in shares of Micron Technology during the second quarter worth $15,766,000. Lido Advisors LLC lifted its stake in Micron Technology by 1.2% in the second quarter. Lido Advisors LLC now owns 25,822 shares of the semiconductor manufacturer’s stock valued at $996,000 after buying an additional 317 shares during the period. Balter Liquid Alternatives LLC lifted its stake in Micron Technology by 12.6% in the second quarter. Balter Liquid Alternatives LLC now owns 23,637 shares of the semiconductor manufacturer’s stock valued at $912,000 after buying an additional 2,652 shares during the period. Finally, Andra AP fonden acquired a new position in Micron Technology in the first quarter valued at about $6,419,000. Hedge funds and other institutional investors own 76.64% of the company’s stock.
MU has been the topic of several analyst reports. Susquehanna Bancshares reissued a “hold” rating on shares of Micron Technology in a research note on Monday, August 26th. Barclays increased their target price on Micron Technology from $40.00 to $50.00 and gave the company an “overweight” rating in a research note on Thursday, July 18th. Robert W. Baird cut their target price on Micron Technology from $32.00 to $28.00 and set an “underperform” rating on the stock in a research note on Friday, June 21st. Morgan Stanley raised Micron Technology from an “underweight” rating to an “equal weight” rating and increased their target price for the company from $31.00 to $48.00 in a research note on Tuesday, July 30th. Finally, Nomura cut their target price on Micron Technology from $45.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-one have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $50.82.
Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.75 by $0.30. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The business’s quarterly revenue was down 38.6% compared to the same quarter last year. During the same period in the previous year, the business earned $3.15 EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.
In other news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated 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 directly owns 130,236 shares of the company’s stock, valued at approximately $5,860,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP April S. Arnzen sold 4,800 shares of the business’s stock in a transaction dated 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 directly owns 79,392 shares in the company, valued at $3,572,640. The disclosure for this sale can be found here. Insiders have sold a total of 79,735 shares of company stock worth $3,736,994 over the last ninety days. Company insiders own 0.20% of the company’s stock.
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.
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