Brick & Kyle Associates grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,630 shares of the semiconductor manufacturer’s stock after buying an additional 1,630 shares during the quarter. Micron Technology accounts for approximately 1.2% of Brick & Kyle Associates’ holdings, making the stock its 29th largest position. Brick & Kyle Associates’ holdings in Micron Technology were worth $1,431,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nissay Asset Management Corp Japan ADV raised its holdings in Micron Technology by 7.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 165,535 shares of the semiconductor manufacturer’s stock worth $5,252,000 after purchasing an additional 11,645 shares during the period. Connable Office Inc. raised its holdings in Micron Technology by 54.3% in the 4th quarter. Connable Office Inc. now owns 60,563 shares of the semiconductor manufacturer’s stock worth $1,922,000 after purchasing an additional 21,316 shares during the period. Financial Gravity Wealth Inc. bought a new position in Micron Technology in the 1st quarter worth $55,000. Advisor Partners LLC raised its holdings in Micron Technology by 15.9% in the 1st quarter. Advisor Partners LLC now owns 34,435 shares of the semiconductor manufacturer’s stock worth $1,423,000 after purchasing an additional 4,715 shares during the period. Finally, Winslow Evans & Crocker Inc. raised its holdings in Micron Technology by 7.9% in the 1st quarter. Winslow Evans & Crocker Inc. now owns 27,080 shares of the semiconductor manufacturer’s stock worth $1,122,000 after purchasing an additional 1,974 shares during the period. 77.05% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Micron Technology stock traded down $0.72 during trading on Friday, reaching $32.66. 19,687,129 shares of the stock traded hands, compared to its average volume of 23,405,248. The firm has a market cap of $36.14 billion, a price-to-earnings ratio of 2.76 and a beta of 1.94. The company has a quick ratio of 1.65, a current ratio of 2.25 and a debt-to-equity ratio of 0.10. Micron Technology, Inc. has a 52-week low of $28.39 and a 52-week high of $61.83.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. The firm had revenue of $5.84 billion during the quarter, compared to analyst estimates of $5.82 billion. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The business’s quarterly revenue was down 20.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.82 earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 6.09 EPS for the current fiscal year.
In related news, EVP Scott J. Deboer sold 14,486 shares of the stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $42.88, for a total value of $621,159.68. Following the completion of the transaction, the executive vice president now owns 150,236 shares of the company’s stock, valued at approximately $6,442,119.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 21,182 shares of the stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $39.39, for a total transaction of $834,358.98. Following the completion of the transaction, the senior vice president now directly owns 86,992 shares of the company’s stock, valued at approximately $3,426,614.88. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 55,878 shares of company stock valued at $2,293,223. Company insiders own 0.20% of the company’s stock.
MU has been the subject of a number of analyst reports. UBS Group increased their price target on Micron Technology to $41.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. Rosenblatt Securities reiterated a “buy” rating and issued a $75.00 price target on shares of Micron Technology in a research note on Tuesday, March 19th. BidaskClub lowered Micron Technology from a “sell” rating to a “strong sell” rating in a research note on Thursday, May 23rd. Barclays cut their price target on Micron Technology from $45.00 to $40.00 and set an “overweight” rating for the company in a research note on Thursday, June 6th. Finally, Cowen increased their price target on Micron Technology to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $50.89.
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About Micron Technology
Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.
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