Cubist Systematic Strategies LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 19.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 106,128 shares of the semiconductor manufacturer’s stock after purchasing an additional 17,338 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Micron Technology were worth $3,169,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MU. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Micron Technology in the second quarter worth approximately $500,000. Wynnefield Capital Inc. bought a new position in shares of Micron Technology in the first quarter worth approximately $13,519,000. Captrust Financial Advisors bought a new position in shares of Micron Technology in the second quarter worth approximately $107,000. Guardian Life Insurance Co. of America lifted its stake in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after buying an additional 13 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in shares of Micron Technology in the second quarter worth approximately $141,000. Institutional investors and hedge funds own 79.32% of the company’s stock.

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Several research analysts have recently issued reports on MU shares. Credit Suisse Group reiterated a “buy” rating on shares of Micron Technology in a research note on Sunday, July 2nd. Deutsche Bank AG increased their price objective on shares of Micron Technology from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Friday, June 30th. J P Morgan Chase & Co restated a “buy” rating on shares of Micron Technology in a research report on Tuesday, August 29th. Mizuho restated a “buy” rating and set a $35.00 price objective on shares of Micron Technology in a research report on Friday, June 16th. Finally, Citigroup Inc. set a $45.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $44.41.

In related news, CFO Ernest E. Maddock purchased 3,400 shares of the company’s stock in a transaction on Friday, August 11th. The shares were bought at an average cost of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the purchase, the chief financial officer now directly owns 192,385 shares of the company’s stock, valued at approximately $5,365,617.65. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Brian Shirley sold 27,250 shares of the stock in a transaction that occurred on Wednesday, July 12th. The shares were sold at an average price of $31.54, for a total transaction of $859,465.00. Following the completion of the transaction, the senior vice president now owns 292,211 shares in the company, valued at $9,216,334.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 314,715 shares of company stock worth $11,480,040. 0.69% of the stock is owned by corporate insiders.

Shares of Micron Technology, Inc. (MU) traded up 0.76% on Friday, hitting $39.67. 25,150,300 shares of the stock were exchanged. Micron Technology, Inc. has a 52-week low of $16.17 and a 52-week high of $40.54. The company’s 50 day moving average is $34.37 and its 200-day moving average is $30.61. The stock has a market cap of $43.99 billion, a PE ratio of 9.00 and a beta of 1.82.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.18. The firm had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The firm’s revenue was up 90.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.01) earnings per share. Analysts predict that Micron Technology, Inc. will post $7.55 EPS for the current fiscal year.

Micron Technology Profile

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

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