Eqis Capital Management Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 9.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,904 shares of the semiconductor manufacturer’s stock after buying an additional 978 shares during the period. Eqis Capital Management Inc.’s holdings in Micron Technology were worth $355,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in MU. DekaBank Deutsche Girozentrale raised its stake in Micron Technology by 83.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 412,407 shares of the semiconductor manufacturer’s stock worth $12,040,000 after buying an additional 188,133 shares in 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 worth $161,085,000 after buying an additional 3,896,978 shares in the last quarter. Grassi Investment Management purchased a new stake in shares of Micron Technology during the second quarter worth about $427,000. CIBC World Markets Inc. raised its stake in shares of Micron Technology by 2,661.9% in the first quarter. CIBC World Markets Inc. now owns 2,687,100 shares of the semiconductor manufacturer’s stock worth $77,657,000 after buying an additional 2,589,807 shares in the last quarter. Finally, DnB Asset Management AS raised its stake in shares of Micron Technology by 63.9% in the second quarter. DnB Asset Management AS now owns 2,228,162 shares of the semiconductor manufacturer’s stock worth $66,533,000 after buying an additional 868,787 shares in the last quarter. 80.36% of the stock is currently owned by institutional investors.
Micron Technology, Inc. (MU) traded up 2.57% during midday trading on Friday, hitting $30.38. The company’s stock had a trading volume of 31,178,131 shares. The stock has a 50 day moving average of $29.95 and a 200 day moving average of $28.20. The company has a market cap of $33.72 billion, a PE ratio of 13.34 and a beta of 1.76. Micron Technology, Inc. has a 52-week low of $15.38 and a 52-week high of $32.96. Micron Technology also saw unusually large options trading activity on Wednesday. Traders acquired 41,784 put options on the company. This is an increase of 107% compared to the typical daily volume of 20,197 put options.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.25. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The firm’s revenue for the quarter was up 92.2% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) EPS. On average, equities analysts expect that Micron Technology, Inc. will post $4.71 EPS for the current year.
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A number of equities research analysts recently issued reports on the company. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research report on Saturday. Mizuho reissued a “buy” rating and issued a $38.00 target price on shares of Micron Technology in a research report on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $36.00 target price on shares of Micron Technology in a research report on Monday, August 14th. Citigroup Inc. restated a “buy” rating and issued a $45.00 price target on shares of Micron Technology in a research note on Monday, August 14th. Finally, Cowen and Company restated a “buy” rating on shares of Micron Technology in a research note on Thursday, August 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-eight have assigned a buy rating and one has given a strong buy rating to the company. Micron Technology has an average rating of “Buy” and a consensus price target of $35.65.
In other news, Director Lawrence N. Mondry sold 25,000 shares of the firm’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 transaction, the director now directly owns 177,367 shares of the company’s stock, valued at $5,430,977.54. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ernest E. Maddock acquired 3,400 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average price of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the purchase, the chief financial officer now owns 192,385 shares of the company’s stock, valued at approximately $5,365,617.65. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 71,250 shares of company stock worth $2,207,515. Corporate insiders own 0.69% of the company’s stock.
Micron Technology Company Profile
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