6,369 Shares in Micron Technology, Inc. (MU) Acquired by Barrett Asset Management LLC
Barrett Asset Management LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 6,369 shares of the semiconductor manufacturer’s stock, valued at approximately $262,000.
Other hedge funds also recently made changes to their positions in the company. SevenBridge Financial Group LLC raised its holdings in Micron Technology by 87.5% during the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock worth $100,000 after buying an additional 1,190 shares during the period. Salem Investment Counselors Inc. raised its holdings in Micron Technology by 76.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock worth $115,000 after buying an additional 1,252 shares during the period. Jacobi Capital Management LLC raised its holdings in Micron Technology by 368.8% during the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock worth $135,000 after buying an additional 2,600 shares during the period. Sowell Financial Services LLC acquired a new stake in Micron Technology during the 3rd quarter worth approximately $204,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Micron Technology during the 3rd quarter worth approximately $184,000. Hedge funds and other institutional investors own 81.05% of the company’s stock.
In other news, SVP April S. Arnzen sold 27,878 shares of Micron Technology stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $44.27, for a total transaction of $1,234,159.06. Following the completion of the sale, the senior vice president now owns 58,659 shares of the company’s stock, valued at $2,596,833.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Scott J. Deboer sold 14,750 shares of Micron Technology stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $43.28, for a total value of $638,380.00. Following the sale, the executive vice president now directly owns 134,854 shares of the company’s stock, valued at approximately $5,836,481.12. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 173,470 shares of company stock valued at $7,420,480. Company insiders own 0.53% of the company’s stock.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. The firm had revenue of $6.80 billion during the quarter, compared to analysts’ expectations of $6.43 billion. During the same period in the previous year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 71.4% compared to the same quarter last year. equities analysts predict that Micron Technology, Inc. will post 10.12 EPS for the current year.
Several brokerages have recently weighed in on MU. KeyCorp raised shares of Micron Technology from a “sector weight” rating to an “overweight” rating and set a $53.00 price target for the company in a research note on Tuesday, February 6th. Mizuho reaffirmed a “buy” rating and set a $55.00 price target (up from $50.00) on shares of Micron Technology in a research note on Tuesday, February 6th. UBS Group cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. Morgan Stanley decreased their price target on shares of Micron Technology from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Tuesday, February 6th. Finally, Goldman Sachs Group set a $55.00 price target on shares of Micron Technology and gave the stock a “buy” rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $55.80.
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About Micron Technology
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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