Chicago Partners Investment Group LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 496.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,389 shares of the semiconductor manufacturer’s stock after buying an additional 2,821 shares during the period. Chicago Partners Investment Group LLC’s holdings in Micron Technology were worth $117,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Alethea Capital Management LLC bought a new position in Micron Technology during the second quarter worth $134,000. Tradewinds Capital Management LLC boosted its position in Micron Technology by 411.8% during the second quarter. Tradewinds Capital Management LLC now owns 1,996 shares of the semiconductor manufacturer’s stock worth $105,000 after purchasing an additional 1,606 shares during the period. Credit Agricole S A boosted its position in Micron Technology by 199,900.0% during the second quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock worth $105,000 after purchasing an additional 1,999 shares during the period. America First Investment Advisors LLC bought a new position in Micron Technology during the second quarter worth $131,000. Finally, Central Bank & Trust Co. bought a new position in Micron Technology during the second quarter worth $142,000. Institutional investors and hedge funds own 75.53% of the company’s stock.
Shares of Micron Technology stock opened at $39.11 on Friday. The stock has a market capitalization of $46.43 billion, a PE ratio of 3.31, a price-to-earnings-growth ratio of 0.63 and a beta of 1.69. Micron Technology, Inc. has a 52-week low of $33.82 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.79 and a quick ratio of 2.16.
Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, beating the Zacks’ 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 company had revenue of $8.44 billion during the quarter, compared to analysts’ expectations of $8.25 billion. During the same quarter in the previous year, the business posted $2.02 earnings per share. Micron Technology’s quarterly revenue was up 37.5% on a year-over-year basis. As a group, analysts anticipate that Micron Technology, Inc. will post 10.19 earnings per share for the current year.
MU has been the subject of a number of research analyst reports. Goldman Sachs Group set a $68.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a research report on Wednesday, July 18th. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, July 24th. Wells Fargo & Co reduced their price objective 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. Zacks Investment Research cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Tuesday, August 21st. Finally, Deutsche Bank reaffirmed a “buy” rating and set a $80.00 price objective on shares of Micron Technology in a research report on Thursday, September 6th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the stock. Micron Technology presently has a consensus rating of “Buy” and a consensus target price of $66.92.
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Micron Technology Company Profile
Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.
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