First Dallas Securities Inc. Increases Stake in Micron Technology, Inc. (MU)

First Dallas Securities Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,275 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,150 shares during the period. First Dallas Securities Inc.’s holdings in Micron Technology were worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in MU. Principal Financial Group Inc. raised its holdings in shares of Micron Technology by 1.4% in the 1st quarter. Principal Financial Group Inc. now owns 1,768,868 shares of the semiconductor manufacturer’s stock worth $92,229,000 after acquiring an additional 24,882 shares during the last quarter. Park National Corp OH grew its position in Micron Technology by 30.3% in the 2nd quarter. Park National Corp OH now owns 6,021 shares of the semiconductor manufacturer’s stock worth $316,000 after purchasing an additional 1,400 shares in the last quarter. Gulf International Bank UK Ltd grew its position in Micron Technology by 1.8% in the 2nd quarter. Gulf International Bank UK Ltd now owns 370,206 shares of the semiconductor manufacturer’s stock worth $19,413,000 after purchasing an additional 6,450 shares in the last quarter. Abner Herrman & Brock LLC bought a new stake in Micron Technology in the 2nd quarter worth about $1,863,000. Finally, XR Securities LLC bought a new stake in Micron Technology in the 2nd quarter worth about $733,000. Hedge funds and other institutional investors own 75.48% of the company’s stock.

Shares of MU stock opened at $38.09 on Thursday. The company has a market cap of $40.84 billion, a P/E ratio of 3.22, a price-to-earnings-growth ratio of 0.56 and a beta of 1.54. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.16 and a current ratio of 2.79. Micron Technology, Inc. has a 12 month low of $33.82 and a 12 month high of $64.66.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.20. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The business had revenue of $8.44 billion for the quarter, compared to analysts’ expectations of $8.25 billion. During the same period in the prior year, the company posted $2.02 EPS. The business’s revenue for the quarter was up 37.5% compared to the same quarter last year. As a group, research analysts forecast that Micron Technology, Inc. will post 10.19 EPS for the current year.

A number of research firms have recently weighed in on MU. Macquarie set a $70.00 target price on shares of Micron Technology and gave the company a “buy” rating in a research report on Friday, September 21st. Barclays reduced their target price on shares of Micron Technology to $60.00 and set an “overweight” rating for the company in a research report on Friday, September 21st. Wells Fargo & Co reduced their target price on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, August 15th. They noted that the move was a valuation call. Needham & Company LLC reduced their target price on shares of Micron Technology from $100.00 to $80.00 and set a “strong-buy” rating for the company in a research report on Monday, September 24th. Finally, Nomura reduced their target price on shares of Micron Technology from $100.00 to $65.00 and set a “buy” rating for the company in a research report on Friday, September 21st. Two analysts have rated the stock with a sell rating, eleven have given a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $66.92.

Micron Technology Profile

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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

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