Parkwood LLC Increases Holdings in Micron Technology, Inc. (MU)
Parkwood LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 89.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,196 shares of the semiconductor manufacturer’s stock after purchasing an additional 9,080 shares during the period. Parkwood LLC’s holdings in Micron Technology were worth $755,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Captrust Financial Advisors purchased a new stake in shares of Micron Technology in the 2nd quarter worth $107,000. Shine Investment Advisory Services Inc. purchased a new stake in shares of Micron Technology in the 2nd quarter worth $141,000. Krilogy Financial LLC increased its stake in shares of Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after purchasing an additional 4,350 shares in the last quarter. MPS Loria Financial Planners LLC purchased a new stake in shares of Micron Technology in the 2nd quarter worth $142,000. Finally, FNY Managed Accounts LLC increased its stake in shares of Micron Technology by 478.0% in the 2nd quarter. FNY Managed Accounts LLC now owns 5,000 shares of the semiconductor manufacturer’s stock worth $149,000 after purchasing an additional 4,135 shares in the last quarter. Hedge funds and other institutional investors own 76.21% of the company’s stock.
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Micron Technology, Inc. (NASDAQ MU) traded down $0.63 during trading hours on Tuesday, hitting $43.71. 27,555,798 shares of the stock traded hands, compared to its average volume of 39,880,000. Micron Technology, Inc. has a 1-year low of $16.75 and a 1-year high of $45.33. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $50,630.00, a P/E ratio of 9.84, a P/E/G ratio of 0.60 and a beta of 1.78.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter last year, the company posted ($0.01) earnings per share. The firm’s revenue was up 90.8% compared to the same quarter last year. research analysts forecast that Micron Technology, Inc. will post 7.29 earnings per share for the current fiscal year.
In other news, CFO Ernest E. Maddock acquired 3,400 shares of the business’s stock in a transaction on Friday, August 11th. The stock was bought at an average price of $27.89 per share, with a total value of $94,826.00. Following the completion of the acquisition, the chief financial officer now owns 192,385 shares of the company’s stock, valued at $5,365,617.65. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joel L. Poppen sold 80,000 shares of Micron Technology stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.61, for a total transaction of $3,088,800.00. Following the completion of the transaction, the insider now directly owns 266,966 shares of the company’s stock, valued at approximately $10,307,557.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 333,415 shares of company stock valued at $12,602,325. 0.69% of the stock is currently owned by corporate insiders.
Several research analysts recently weighed in on the stock. UBS AG reaffirmed a “buy” rating and issued a $53.00 target price (up previously from $39.50) on shares of Micron Technology in a report on Thursday, October 19th. They noted that the move was a valuation call. Citigroup Inc. set a $45.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a report on Wednesday, July 19th. Evercore ISI upped their target price on shares of Micron Technology from $40.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, September 18th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of Micron Technology in a report on Wednesday, October 11th. Finally, Credit Suisse Group reaffirmed an “outperform” rating on shares of Micron Technology in a report on Thursday, August 31st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have assigned a buy rating and one has issued a strong buy rating to the stock. Micron Technology has a consensus rating of “Buy” and a consensus target price of $46.57.
Micron Technology Profile
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