Altfest L J & Co. Inc. bought a new position in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 33,142 shares of the semiconductor manufacturer’s stock, valued at approximately $990,000.
Other large investors have also recently bought and sold shares of the company. Winslow Evans & Crocker Inc. boosted its stake in shares of Micron Technology by 0.5% in the first quarter. Winslow Evans & Crocker Inc. now owns 21,400 shares of the semiconductor manufacturer’s stock valued at $618,000 after buying an additional 100 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of Micron Technology during the first quarter valued at $201,000. Bank of Montreal Can boosted its stake in shares of Micron Technology by 3.3% in the first quarter. Bank of Montreal Can now owns 1,859,684 shares of the semiconductor manufacturer’s stock valued at $53,744,000 after buying an additional 60,066 shares during the last quarter. Gulf International Bank UK Ltd boosted its position in Micron Technology by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 319,779 shares of the semiconductor manufacturer’s stock worth $9,241,000 after buying an additional 3,900 shares in the last quarter. Finally, Raymond James Trust N.A. boosted its position in Micron Technology by 14.0% in the first quarter. Raymond James Trust N.A. now owns 15,150 shares of the semiconductor manufacturer’s stock worth $438,000 after buying an additional 1,858 shares in the last quarter. Institutional investors own 80.36% of the company’s stock.
Micron Technology, Inc. (NASDAQ MU) traded up 2.57% during mid-day trading on Friday, hitting $30.38. 31,178,131 shares of the stock traded hands. Micron Technology, Inc. has a 12 month low of $15.38 and a 12 month high of $32.96. The company has a market cap of $33.72 billion, a price-to-earnings ratio of 13.34 and a beta of 1.76. The stock’s 50 day moving average is $29.95 and its 200-day moving average is $28.20. Micron Technology also was the recipient of some unusual options trading activity on Wednesday. Investors bought 41,784 put options on the company. This is an increase of 107% compared to the average volume of 20,197 put options.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. During the same period in the previous year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 92.2% on a year-over-year basis. On average, equities research analysts anticipate that Micron Technology, Inc. will post $4.71 EPS for the current year.
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Several research analysts recently issued reports on MU shares. Robert W. Baird reissued an “outperform” rating and issued a $40.00 price objective on shares of Micron Technology in a research note on Monday, June 19th. Cowen and Company increased their price objective on Micron Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a research note on Monday, June 26th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating and set a $33.00 target price (up previously from $30.00) on shares of Micron Technology in a report on Friday, June 30th. Morgan Stanley restated an “overweight” rating and set a $36.00 target price on shares of Micron Technology in a report on Monday. Finally, Mizuho upped their target price on Micron Technology from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, June 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Micron Technology has a consensus rating of “Buy” and an average price target of $35.65.
In other Micron Technology news, CFO Ernest E. Maddock bought 3,400 shares of Micron Technology stock in a transaction on Friday, August 11th. The stock was purchased at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the purchase, the chief financial officer now directly owns 192,385 shares of the company’s stock, valued at $5,365,617.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total transaction of $320,000.00. Following the completion of the sale, the vice president now owns 150,232 shares of the company’s stock, valued at $4,807,424. The disclosure for this sale can be found here. Insiders have sold 71,250 shares of company stock worth $2,207,515 over the last ninety days. 0.69% of the stock is currently owned by insiders.
About Micron Technology
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