Eqis Capital Management Inc. increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 9.0% during the second quarter, according to its most recent filing with the 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.
Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Micron Technology by 4.9% in the first quarter. Vanguard Group Inc. now owns 86,141,622 shares of the semiconductor manufacturer’s stock worth $2,489,492,000 after buying an additional 4,004,759 shares during the last quarter. Janus Capital Management LLC boosted its position 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 during the last quarter. Westpac Banking Corp boosted its position in shares of Micron Technology by 790.9% in the first quarter. Westpac Banking Corp now owns 3,656,771 shares of the semiconductor manufacturer’s stock worth $113,251,000 after buying an additional 3,246,321 shares during the last quarter. CIBC World Markets Inc. boosted its position 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 during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Micron Technology by 64.4% in the first quarter. AQR Capital Management LLC now owns 5,823,890 shares of the semiconductor manufacturer’s stock worth $168,310,000 after buying an additional 2,281,331 shares during the last quarter. 80.11% of the stock is currently owned by institutional investors and hedge funds.
Shares of Micron Technology, Inc. (NASDAQ MU) opened at 31.67 on Tuesday. The firm has a 50-day moving average of $31.29 and a 200 day moving average of $27.43. Micron Technology, Inc. has a 52 week low of $13.02 and a 52 week high of $32.96. The firm has a market cap of $35.15 billion, a PE ratio of 13.91 and a beta of 1.78.
Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The firm had revenue of $5.57 billion during 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 company’s quarterly revenue was up 92.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post $4.71 EPS for the current fiscal year.
A number of brokerages have issued reports on MU. Citigroup Inc. set a $45.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research note on Wednesday, July 19th. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, July 13th. Macquarie reaffirmed a “buy” rating on shares of Micron Technology in a research note on Tuesday, July 4th. Rosenblatt Securities reaffirmed a “buy” rating on shares of Micron Technology in a research note on Monday, July 3rd. Finally, Morgan Stanley increased their target price on shares of Micron Technology from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $35.65.
In other Micron Technology news, Director Mercedes Johnson sold 27,242 shares of the stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $27.66, for a total transaction of $753,513.72. Following the completion of the transaction, the director now owns 54,533 shares in the company, valued at $1,508,382.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP April S. Arnzen sold 1,000 shares of the stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $30.75, for a total transaction of $30,750.00. Following the transaction, the vice president now owns 52,542 shares of the company’s stock, valued at approximately $1,615,666.50. The disclosure for this sale can be found here. Insiders have sold 70,492 shares of company stock valued at $2,109,749 in the last quarter. Company insiders own 0.69% of the company’s stock.
Micron Technology Company Profile
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