Benjamin F. Edwards & Company Inc. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 453.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,500 shares of the semiconductor manufacturer’s stock after purchasing an additional 12,700 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Micron Technology were worth $610,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors purchased a new position in Micron Technology during the 2nd quarter worth $107,000. Shine Investment Advisory Services Inc. purchased a new position in Micron Technology during the 2nd quarter worth $141,000. Krilogy Financial LLC boosted its holdings in Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after acquiring an additional 4,350 shares during the last quarter. MPS Loria Financial Planners LLC purchased a new position in shares of Micron Technology in the 2nd quarter worth about $142,000. Finally, FNY Managed Accounts LLC boosted its holdings 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 buying an additional 4,135 shares during the last quarter. Institutional investors and hedge funds own 76.21% of the company’s stock.
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Micron Technology, Inc. (NASDAQ MU) opened at $44.78 on Friday. Micron Technology, Inc. has a 12-month low of $16.90 and a 12-month high of $45.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.75 and a current ratio of 2.34. The firm has a market capitalization of $50,166.59, a PE ratio of 9.80, a PEG ratio of 0.59 and a beta of 1.78.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The company had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same period in the previous year, the firm earned ($0.01) EPS. The firm’s revenue was up 90.8% compared to the same quarter last year. sell-side analysts predict that Micron Technology, Inc. will post 7.42 earnings per share for the current year.
In related news, EVP Scott J. Deboer sold 30,000 shares of the company’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the completion of the sale, the executive vice president now directly owns 122,667 shares in the company, valued at approximately $5,152,014. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $44.55, for a total value of $133,650.00. Following the transaction, the director now directly owns 117,299 shares in the company, valued at $5,225,670.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 333,415 shares of company stock worth $12,602,325. 0.69% of the stock is owned by insiders.
MU has been the topic of a number of research analyst reports. Citigroup Inc. reissued a “buy” rating and issued a $45.00 price target on shares of Micron Technology in a report on Wednesday, August 2nd. BidaskClub raised shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 12th. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price target on the stock in a report on Wednesday, October 25th. Loop Capital reissued a “buy” rating and issued a $48.00 price target (up from $46.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and set a $75.00 price objective on shares of Micron Technology in a report on Tuesday, September 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $46.96.
About Micron Technology
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