Cipher Capital LP Cuts Holdings in Micron Technology, Inc. (MU)
Cipher Capital LP trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 215,278 shares of the semiconductor manufacturer’s stock after selling 34,521 shares during the quarter. Micron Technology makes up approximately 0.6% of Cipher Capital LP’s holdings, making the stock its 13th largest position. Cipher Capital LP’s holdings in Micron Technology were worth $8,467,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of MU. Captrust Financial Advisors bought a new stake in Micron Technology during the 2nd quarter valued at approximately $107,000. Jacobi Capital Management LLC boosted its position 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 valued at $135,000 after acquiring an additional 2,600 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new stake in Micron Technology during the 2nd quarter valued at approximately $141,000. Krilogy Financial LLC boosted its position in Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after acquiring an additional 4,350 shares in the last quarter. Finally, MPS Loria Financial Planners LLC bought a new stake in Micron Technology during the 2nd quarter valued at approximately $142,000. 75.45% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology, Inc. (NASDAQ MU) traded up $0.82 during trading on Friday, reaching $46.18. 24,192,600 shares of the company were exchanged, compared to its average volume of 28,930,164. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. Micron Technology, Inc. has a 12 month low of $18.18 and a 12 month high of $46.29. The stock has a market cap of $53,220.00, a price-to-earnings ratio of 10.22, a P/E/G ratio of 0.61 and a beta of 1.78.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion for the quarter, compared to analyst estimates of $5.97 billion. During the same period in the prior year, the company posted ($0.01) EPS. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. equities analysts predict that Micron Technology, Inc. will post 7.42 EPS for the current year.
A number of brokerages have recently commented on MU. Vetr cut Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 price target on the stock. in a research report on Friday. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price target (up from $37.00) on shares of Micron Technology in a research report on Wednesday, September 20th. Needham & Company LLC reissued a “buy” rating on shares of Micron Technology in a research report on Wednesday, September 27th. Morgan Stanley reissued an “overweight” rating and issued a $36.00 price target on shares of Micron Technology in a research report on Monday, August 14th. Finally, J P Morgan Chase & Co boosted their price target on Micron Technology from $50.00 to $55.00 and gave the stock an “overweight” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $47.12.
In other news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the transaction, the senior vice president now directly owns 289,940 shares of the company’s stock, valued at $11,046,714. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joel L. Poppen sold 80,000 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the transaction, the insider now directly owns 266,966 shares in the company, valued at $10,307,557.26. The disclosure for this sale can be found here. Insiders sold a total of 308,415 shares of company stock worth $11,836,825 over the last three months. 0.69% of the stock is currently owned by corporate insiders.
Micron Technology Company Profile
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