Commonwealth Equity Services Inc Boosts Stake in Micron Technology, Inc. (MU)

Commonwealth Equity Services Inc increased its position in Micron Technology, Inc. (NASDAQ:MU) by 13.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 254,110 shares of the semiconductor manufacturer’s stock after purchasing an additional 29,548 shares during the period. Commonwealth Equity Services Inc’s holdings in Micron Technology were worth $9,994,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Eidelman Virant Capital raised its stake in Micron Technology by 22.0% during the 2nd quarter. Eidelman Virant Capital now owns 127,400 shares of the semiconductor manufacturer’s stock valued at $3,804,000 after acquiring an additional 23,000 shares during the last quarter. Schroder Investment Management Group raised its stake in Micron Technology by 16.3% during the 2nd quarter. Schroder Investment Management Group now owns 1,652,878 shares of the semiconductor manufacturer’s stock valued at $52,016,000 after acquiring an additional 232,083 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Micron Technology by 8.0% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 44,928 shares of the semiconductor manufacturer’s stock valued at $1,342,000 after acquiring an additional 3,317 shares during the last quarter. Quantitative Systematic Strategies LLC raised its stake in Micron Technology by 0.7% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 67,006 shares of the semiconductor manufacturer’s stock valued at $2,106,000 after acquiring an additional 475 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Micron Technology by 4.0% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,627,678 shares of the semiconductor manufacturer’s stock valued at $108,322,000 after acquiring an additional 140,996 shares during the last quarter. 75.45% of the stock is owned by institutional investors and hedge funds.

A number of brokerages have recently issued reports on MU. Vetr downgraded Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price for the company. in a research note on Friday. The Goldman Sachs Group, Inc. raised Micron Technology from a “neutral” rating to a “buy” rating and increased their target price for the stock from $33.00 to $40.00 in a research note on Tuesday, September 12th. Susquehanna Bancshares Inc increased their target price on Micron Technology from $40.00 to $50.00 and gave the stock a “positive” rating in a research note on Tuesday, September 19th. UBS AG reissued a “buy” rating and set a $53.00 target price (up from $39.50) on shares of Micron Technology in a research note on Thursday, October 19th. They noted that the move was a valuation call. Finally, Deutsche Bank AG reissued a “buy” rating and set a $37.00 target price on shares of Micron Technology in a research note on Wednesday, September 6th. One investment 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. The stock presently has a consensus rating of “Buy” and a consensus target price of $47.12.

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Micron Technology, Inc. (NASDAQ MU) traded up $0.12 during trading hours on Friday, reaching $46.30. The company had a trading volume of 12,429,232 shares, compared to its average volume of 34,620,000. The firm has a market capitalization of $53,370.00, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 0.61 and a beta of 1.78. Micron Technology, Inc. has a fifty-two week low of $18.18 and a fifty-two week high of $46.54. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $5.97 billion. During the same period in the previous year, the firm posted ($0.01) earnings per share. Micron Technology’s quarterly revenue was up 90.8% compared to the same quarter last year. analysts expect that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

In other news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $38.10, for a total transaction of $4,531,766.40. Following the sale, the senior vice president now owns 289,940 shares of the company’s stock, valued at $11,046,714. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joel L. Poppen sold 80,000 shares of Micron Technology stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $38.61, for a total value of $3,088,800.00. Following the sale, the insider now directly owns 266,966 shares in the company, valued at approximately $10,307,557.26. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 308,415 shares of company stock worth $11,836,825. Corporate insiders own 0.69% of the company’s stock.

Micron Technology Profile

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

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