Raymond James Financial Services Advisors Inc. lessened its position in Micron Technology, Inc. (NASDAQ:MU) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 353,882 shares of the semiconductor manufacturer’s stock after selling 7,843 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Micron Technology were worth $13,918,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in MU. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Micron Technology during the 2nd quarter worth approximately $500,000. IHT Wealth Management LLC bought a new position in shares of Micron Technology during the 2nd quarter worth approximately $1,056,000. Captrust Financial Advisors acquired a new stake in Micron Technology during the 2nd quarter worth approximately $107,000. Shine Investment Advisory Services Inc. acquired a new stake in Micron Technology during the 2nd quarter worth approximately $141,000. Finally, Krilogy Financial LLC lifted 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 purchasing an additional 4,350 shares during the last quarter. 81.16% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Scott J. Deboer sold 29,500 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $35.00, for a total value of $1,032,500.00. Following the completion of the transaction, the executive vice president now directly owns 169,732 shares of the company’s stock, valued at $5,940,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $39.86, for a total value of $119,580.00. Following the completion of the transaction, the director now directly owns 114,284 shares of the company’s stock, valued at $4,555,360.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 305,088 shares of company stock valued at $11,728,398. 0.69% of the stock is owned by corporate insiders.
Micron Technology, Inc. (MU) traded down $2.09 during mid-day trading on Monday, hitting $39.90. The stock had a trading volume of 73,606,269 shares, compared to its average volume of 29,690,283. The company has a market capitalization of $46,010.00, a price-to-earnings ratio of 9.46, a PEG ratio of 0.57 and a beta of 1.75. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51. Micron Technology, Inc. has a 52 week low of $18.40 and a 52 week high of $49.89.
Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the 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 during the quarter, compared to analyst estimates of $5.97 billion. During the same period in the prior year, the company posted ($0.01) earnings per share. Micron Technology’s quarterly revenue was up 90.8% on a year-over-year basis. equities research analysts anticipate that Micron Technology, Inc. will post 7.42 earnings per share for the current year.
Several equities analysts have weighed in on the company. MKM Partners reaffirmed a “buy” rating on shares of Micron Technology in a report on Monday. ValuEngine cut Micron Technology from a “strong-buy” rating to a “buy” rating in a report on Friday. Deutsche Bank reissued a “buy” rating and set a $55.00 price target on shares of Micron Technology in a report on Thursday. Vetr upgraded Micron Technology from a “buy” rating to a “strong-buy” rating and set a $52.11 price objective on the stock in a research report on Wednesday, November 29th. Finally, Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $48.20.
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About Micron Technology
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