Micron Technology, Inc. (NASDAQ:MU) Stake Boosted by Consolidated Investment Group LLC

Consolidated Investment Group LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 183,909 shares of the semiconductor manufacturer’s stock after buying an additional 7,900 shares during the period. Micron Technology comprises 2.9% of Consolidated Investment Group LLC’s holdings, making the stock its 7th largest position. Consolidated Investment Group LLC’s holdings in Micron Technology were worth $5,492,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in MU. DekaBank Deutsche Girozentrale raised its stake in shares of Micron Technology by 83.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 412,407 shares of the semiconductor manufacturer’s stock valued at $12,040,000 after buying an additional 188,133 shares during the last quarter. Janus Capital Management LLC raised its stake in shares of Micron Technology by 232.4% in the first quarter. Janus Capital Management LLC now owns 5,573,883 shares of the semiconductor manufacturer’s stock valued at $161,085,000 after buying an additional 3,896,978 shares during the last quarter. Eidelman Virant Capital raised its stake in shares of Micron Technology by 22.0% in the second quarter. Eidelman Virant Capital now owns 127,400 shares of the semiconductor manufacturer’s stock valued at $3,804,000 after buying an additional 23,000 shares during the last quarter. Quantitative Systematic Strategies LLC raised its stake in shares of Micron Technology by 0.7% in the second quarter. Quantitative Systematic Strategies LLC now owns 67,006 shares of the semiconductor manufacturer’s stock valued at $2,106,000 after buying an additional 475 shares during the last quarter. Finally, Grassi Investment Management acquired a new stake in shares of Micron Technology during the second quarter valued at approximately $427,000. Hedge funds and other institutional investors own 80.36% of the company’s stock.

Micron Technology, Inc. (MU) traded up 2.57% during mid-day trading on Friday, reaching $30.38. The company’s stock had a trading volume of 31,178,131 shares. The stock has a market cap of $33.72 billion, a P/E ratio of 13.34 and a beta of 1.76. The firm’s 50 day moving average is $29.95 and its 200-day moving average is $28.20. Micron Technology, Inc. has a one year low of $15.38 and a one year high of $32.96. Micron Technology also was the target of some unusual options trading activity on Wednesday. Investors purchased 41,784 put options on the stock. This represents an increase of approximately 107% compared to the average volume of 20,197 put options.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter last year, the business earned ($0.08) earnings per share. The company’s revenue for the quarter was up 92.2% compared to the same quarter last year. Equities analysts expect that Micron Technology, Inc. will post $4.71 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally published by BNB Daily and is owned by of BNB Daily. If you are viewing this piece of content on another publication, it was copied illegally and republished in violation of United States & international copyright & trademark legislation. The legal version of this piece of content can be viewed at https://www.baseball-news-blog.com/2017/08/19/consolidated-investment-group-llc-has-5-49-million-position-in-micron-technology-inc-nasdaqmu-updated.html.

A number of research firms recently weighed in on MU. Mizuho reaffirmed a “buy” rating and set a $38.00 price target on shares of Micron Technology in a research note on Wednesday. Morgan Stanley reaffirmed an “overweight” rating and set a $36.00 price target on shares of Micron Technology in a research note on Monday, August 14th. Citigroup Inc. reaffirmed a “buy” rating and set a $45.00 price target on shares of Micron Technology in a research note on Monday, August 14th. Cowen and Company reissued a “buy” rating on shares of Micron Technology in a research note on Thursday, August 10th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $48.00 price objective on shares of Micron Technology in a research note on Tuesday, August 1st. One 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’s stock. The stock presently has an average rating of “Buy” and an average target price of $35.65.

In other news, VP Scott J. Deboer sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the sale, the vice president now directly owns 150,232 shares of the company’s stock, valued at approximately $4,807,424. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence N. Mondry sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $30.62, for a total transaction of $765,500.00. Following the completion of the sale, the director now directly owns 177,367 shares in the company, valued at $5,430,977.54. 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 90 days. 0.69% of the stock is currently owned by company insiders.

Micron Technology Company Profile

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

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply