Bourgeon Capital Management LLC acquired a new position in Micron Technology, Inc. (NASDAQ:MU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 8,000 shares of the semiconductor manufacturer’s stock, valued at approximately $239,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Raymond James Trust N.A. raised its stake in Micron Technology by 14.0% in the first quarter. Raymond James Trust N.A. now owns 15,150 shares of the semiconductor manufacturer’s stock valued at $438,000 after buying an additional 1,858 shares during the last quarter. Bank of Montreal Can raised its stake in Micron Technology by 3.3% in the first quarter. Bank of Montreal Can now owns 1,859,684 shares of the semiconductor manufacturer’s stock valued at $53,744,000 after buying an additional 60,066 shares during the last quarter. Prospera Financial Services Inc purchased a new stake in Micron Technology during the first quarter valued at approximately $201,000. Winslow Evans & Crocker Inc. raised its stake in Micron Technology by 0.5% in the first quarter. Winslow Evans & Crocker Inc. now owns 21,400 shares of the semiconductor manufacturer’s stock valued at $618,000 after buying an additional 100 shares during the last quarter. Finally, Atria Investments LLC raised its stake in Micron Technology by 3.0% in the first quarter. Atria Investments LLC now owns 11,846 shares of the semiconductor manufacturer’s stock valued at $342,000 after buying an additional 341 shares during the last quarter. 80.44% of the stock is owned by institutional investors.

Shares of Micron Technology, Inc. (NASDAQ MU) opened at 28.01 on Friday. The firm has a 50 day moving average price of $30.24 and a 200-day moving average price of $27.97. Micron Technology, Inc. has a 52 week low of $15.08 and a 52 week high of $32.96. The firm has a market capitalization of $31.09 billion, a P/E ratio of 12.30 and a beta of 1.76.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.25. The company had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The firm’s revenue was up 92.2% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post $4.71 EPS for the current fiscal year.

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Several analysts have commented on the stock. Cowen and Company reissued a “buy” rating on shares of Micron Technology in a research report on Thursday. Citigroup Inc. reissued a “buy” rating and set a $45.00 price target on shares of Micron Technology in a research report on Wednesday, August 2nd. Robert W. Baird reissued an “outperform” rating and set a $48.00 price target on shares of Micron Technology in a research report on Tuesday, August 1st. Wells Fargo & Company reissued an “outperform” rating on shares of Micron Technology in a research report on Monday, July 31st. Finally, BidaskClub downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $35.65.

In other news, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $28.47, for a total value of $85,410.00. Following the completion of the sale, the director now owns 120,284 shares in the company, valued at $3,424,485.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP April S. Arnzen sold 1,000 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.75, for a total value of $30,750.00. Following the completion of the sale, 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 46,250 shares of company stock valued at $1,442,015 over the last 90 days. 0.69% of the stock is currently owned by insiders.

Micron Technology Company Profile

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

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