Dowling & Yahnke LLC Increases Stake in Micron Technology, Inc. (MU)
Dowling & Yahnke LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 26,840 shares of the semiconductor manufacturer’s stock after buying an additional 40 shares during the period. Dowling & Yahnke LLC’s holdings in Micron Technology were worth $801,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the company. Wynnefield Capital Inc. acquired a new stake in shares of Micron Technology during the first quarter worth about $13,519,000. Guardian Life Insurance Co. of America boosted 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 during the period. First Personal Financial Services boosted its stake in shares of Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares during the period. Washington Trust Bank boosted its stake in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Micron Technology during the second quarter worth about $141,000. 80.36% of the stock is owned by institutional investors and hedge funds.
Shares of Micron Technology, Inc. (NASDAQ MU) opened at 29.68 on Wednesday. Micron Technology, Inc. has a 1-year low of $15.38 and a 1-year high of $32.96. The firm’s 50-day moving average is $30.09 and its 200-day moving average is $28.12. The company has a market cap of $32.94 billion, a PE ratio of 13.03 and a beta of 1.76.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data 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. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The business had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter in the prior year, the firm posted ($0.08) EPS. The business’s quarterly revenue was up 92.2% compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post $4.71 earnings per share for the current fiscal year.
A number of equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating on shares of Micron Technology in a report on Thursday, June 8th. Stifel Nicolaus reiterated a “buy” rating on shares of Micron Technology in a report on Monday, June 26th. Barclays PLC upped their price target on shares of Micron Technology from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded shares of Micron Technology from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, June 27th. Finally, Rosenblatt Securities reiterated a “buy” rating on shares of Micron Technology in a report on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $35.65.
In related news, CFO Ernest E. Maddock acquired 3,400 shares of the stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $27.89 per share, for a total transaction of $94,826.00. Following the transaction, the chief financial officer now owns 192,385 shares in the company, valued at approximately $5,365,617.65. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brian Shirley sold 27,250 shares of the company’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total value of $859,465.00. Following the completion of the sale, the senior vice president now owns 292,211 shares in the company, valued at approximately $9,216,334.94. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,250 shares of company stock worth $1,442,015. Insiders own 0.69% of the company’s stock.
Micron Technology Company Profile
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