Kennedy Investment Group Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Kennedy Investment Group increased its position in Micron Technology, Inc. (NASDAQ:MU) by 1.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,453 shares of the semiconductor manufacturer’s stock after acquiring an additional 299 shares during the quarter. Kennedy Investment Group’s holdings in Micron Technology were worth $1,690,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer’s stock worth $7,214,000 after purchasing an additional 13,985 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Micron Technology by 15.3% during the fourth quarter. Private Advisor Group LLC now owns 98,177 shares of the semiconductor manufacturer’s stock worth $8,263,000 after purchasing an additional 13,052 shares in the last quarter. Ieq Capital LLC grew its position in shares of Micron Technology by 5.2% during the fourth quarter. Ieq Capital LLC now owns 64,569 shares of the semiconductor manufacturer’s stock worth $5,434,000 after purchasing an additional 3,179 shares in the last quarter. Finally, Concurrent Investment Advisors LLC grew its position in shares of Micron Technology by 24.4% during the fourth quarter. Concurrent Investment Advisors LLC now owns 7,873 shares of the semiconductor manufacturer’s stock worth $663,000 after purchasing an additional 1,542 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $80.00, for a total transaction of $192,320.00. Following the completion of the transaction, the director now owns 24,954 shares in the company, valued at $1,996,320. The trade was a 8.79% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $96.18, for a total value of $1,442,700.00. Following the transaction, the executive vice president now owns 164,769 shares of the company’s stock, valued at $15,847,482.42. This trade represents a 8.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,404 shares of company stock valued at $5,572,867 over the last three months. 0.30% of the stock is owned by company insiders.

Micron Technology Trading Up 1.5%

MU opened at $123.60 on Friday. The firm has a market cap of $138.13 billion, a P/E ratio of 29.64 and a beta of 1.28. The company has a current ratio of 3.13, a quick ratio of 1.99 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average of $93.13 and a 200 day moving average of $93.33. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $144.07.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 EPS for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analysts’ expectations of $7.93 billion. Micron Technology had a return on equity of 10.87% and a net margin of 14.92%. The company’s quarterly revenue was up 38.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.42 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Barclays cut their price objective on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. cut their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Wall Street Zen raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday, June 14th. Robert W. Baird raised their target price on shares of Micron Technology from $130.00 to $163.00 and gave the company an “outperform” rating in a research note on Friday, March 21st. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $130.00 price objective on shares of Micron Technology in a research report on Friday, March 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $127.92.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.