First Allied Advisory Services Inc. grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 42.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,477 shares of the semiconductor manufacturer’s stock after acquiring an additional 20,318 shares during the period. First Allied Advisory Services Inc.’s holdings in Micron Technology were worth $2,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Graham Capital Management L.P. bought a new stake in shares of Micron Technology during the 2nd quarter valued at $1,060,000. Petrus Trust Company LTA bought a new stake in shares of Micron Technology during the 2nd quarter valued at $425,000. QS Investors LLC grew its position in shares of Micron Technology by 16.0% during the 2nd quarter. QS Investors LLC now owns 113,580 shares of the semiconductor manufacturer’s stock valued at $3,391,000 after acquiring an additional 15,638 shares during the period. Quentec Asset Management LLC grew its position in shares of Micron Technology by 30.0% during the 2nd quarter. Quentec Asset Management LLC now owns 2,025,358 shares of the semiconductor manufacturer’s stock valued at $60,478,000 after acquiring an additional 466,935 shares during the period. Finally, Cobalt Capital Management Inc. grew its position in shares of Micron Technology by 64.9% during the 2nd quarter. Cobalt Capital Management Inc. now owns 709,000 shares of the semiconductor manufacturer’s stock valued at $21,171,000 after acquiring an additional 279,000 shares during the period. 79.32% of the stock is owned by hedge funds and other institutional investors.

In other Micron Technology news, EVP Scott J. Deboer sold 29,500 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $35.00, for a total transaction of $1,032,500.00. Following the completion of the transaction, the executive vice president now owns 169,732 shares in the company, valued at approximately $5,940,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ernest E. Maddock purchased 3,400 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $27.89 per share, with a total value of $94,826.00. Following the acquisition, the chief financial officer now directly owns 192,385 shares in the company, valued at $5,365,617.65. The disclosure for this purchase can be found here. Insiders have sold a total of 103,077 shares of company stock valued at $3,337,692 in the last quarter. 0.69% of the stock is currently owned by company insiders.

Several research analysts recently weighed in on MU shares. Cowen and Company upped their target price on shares of Micron Technology from $34.00 to $38.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. Robert W. Baird reaffirmed an “outperform” rating and issued a $40.00 target price on shares of Micron Technology in a report on Monday, June 19th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $42.00 target price (up previously from $37.00) on shares of Micron Technology in a report on Wednesday, September 20th. Needham & Company LLC reaffirmed a “buy” rating on shares of Micron Technology in a report on Wednesday. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating and issued a $33.00 target price (up previously from $30.00) on shares of Micron Technology in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-one have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $42.93.

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Shares of Micron Technology, Inc. (NASDAQ:MU) traded up 3.61% during midday trading on Friday, reaching $39.33. 48,711,411 shares of the company’s stock traded hands. Micron Technology, Inc. has a 1-year low of $16.17 and a 1-year high of $39.36. The stock has a market capitalization of $43.66 billion, a P/E ratio of 17.27 and a beta of 1.75. The firm’s 50-day moving average price is $31.03 and its 200 day moving average price is $29.54. Micron Technology also was the recipient of unusually large options trading activity on Wednesday. Investors acquired 72,401 put options on the stock. This is an increase of 181% compared to the average volume of 25,728 put options.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, topping the 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 firm had revenue of $6.14 billion for the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the prior year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 90.8% on a year-over-year basis. On average, equities analysts predict that Micron Technology, Inc. will post $7.56 earnings per share for the current fiscal year.

Micron Technology Profile

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

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