Mid Atlantic Financial Management Inc. ADV boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 11.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 7,269 shares of the semiconductor manufacturer’s stock after purchasing an additional 742 shares during the period. Mid Atlantic Financial Management Inc. ADV’s holdings in Micron Technology were worth $281,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. Atalanta Sosnoff Capital LLC bought a new position in shares of Micron Technology during the 2nd quarter valued at $15,766,000. Voit & Company LLC grew its holdings in Micron Technology by 7.4% in the 1st quarter. Voit & Company LLC now owns 21,452 shares of the semiconductor manufacturer’s stock worth $887,000 after acquiring an additional 1,470 shares during the last quarter. Eagle Asset Management Inc. grew its holdings in Micron Technology by 8.0% in the 1st quarter. Eagle Asset Management Inc. now owns 10,892 shares of the semiconductor manufacturer’s stock worth $450,000 after acquiring an additional 807 shares during the last quarter. Andra AP fonden bought a new stake in Micron Technology in the 1st quarter worth $6,419,000. Finally, SRB Corp grew its holdings in Micron Technology by 13.3% in the 1st quarter. SRB Corp now owns 16,924 shares of the semiconductor manufacturer’s stock worth $700,000 after acquiring an additional 1,993 shares during the last quarter. 77.06% of the stock is owned by institutional investors and hedge funds.
MU has been the subject of several research analyst reports. Royal Bank of Canada set a $55.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Cfra cut shares of Micron Technology to a “sell” rating and set a $32.00 price target for the company. in a research report on Wednesday, May 22nd. Goldman Sachs Group raised shares of Micron Technology from a “neutral” rating to a “buy” rating and lifted their price target for the company from $40.00 to $56.00 in a research report on Sunday, July 21st. Rosenblatt Securities reissued a “buy” rating and set a $60.00 price target on shares of Micron Technology in a research report on Friday, May 24th. Finally, ValuEngine raised shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $48.46.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.30. The business had revenue of $4.79 billion for the quarter, compared to analysts’ expectations of $4.70 billion. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The firm’s quarterly revenue was down 38.6% compared to the same quarter last year. During the same period last year, the firm posted $3.15 earnings per share. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.06 EPS for the current year.
In other news, insider Joel L. Poppen sold 654 shares of Micron Technology stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $45.64, for a total transaction of $29,848.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael W. Bokan sold 20,488 shares of Micron Technology stock in a transaction on Friday, July 19th. The stock was sold at an average price of $45.71, for a total transaction of $936,506.48. Following the transaction, the senior vice president now owns 43,117 shares in the company, valued at approximately $1,970,878.07. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 57,244 shares of company stock worth $2,624,899. Insiders own 0.20% of the company’s stock.
About Micron Technology
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.
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.