Bank of Stockton raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,193 shares of the semiconductor manufacturer’s stock after buying an additional 470 shares during the quarter. Bank of Stockton’s holdings in Micron Technology were worth $462,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Executive Wealth Management LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $26,000. JNBA Financial Advisors bought a new stake in shares of Micron Technology during the fourth quarter worth $28,000. Lavaca Capital LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $29,000. Athena Capital Advisors LLC bought a new stake in shares of Micron Technology during the fourth quarter worth $29,000. Finally, Valeo Financial Advisors LLC grew its holdings in shares of Micron Technology by 73.3% during the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 77.20% of the company’s stock.
In related news, EVP Scott J. Deboer sold 14,486 shares of Micron Technology stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $42.88, for a total value of $621,159.68. Following the sale, 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 link. Also, SVP Joel L. Poppen sold 20,210 shares of Micron Technology stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $41.45, for a total value of $837,704.50. Following the completion of the sale, the senior vice president now directly owns 269,368 shares in the company, valued at approximately $11,165,303.60. The disclosure for this sale can be found here. Insiders sold 55,878 shares of company stock worth $2,293,223 in the last three months. Insiders own 0.20% of the company’s stock.
Several brokerages have recently commented on MU. Cowen increased their target price on Micron Technology to $46.00 and gave the stock an “outperform” rating in a report on Thursday, March 21st. Nomura began coverage on Micron Technology in a report on Tuesday. They set a “neutral” rating and a $45.00 target price on the stock. Mizuho decreased their target price on Micron Technology from $45.00 to $44.00 and set a “buy” rating on the stock in a report on Friday, March 15th. BidaskClub upgraded Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22nd. Finally, Needham & Company LLC restated a “hold” rating on shares of Micron Technology in a report on Thursday, March 21st. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twenty have assigned a buy rating to the company. Micron Technology has a consensus rating of “Hold” and a consensus price target of $55.85.
NASDAQ:MU opened at $42.76 on Wednesday. Micron Technology, Inc. has a 1-year low of $28.39 and a 1-year high of $64.66. The company has a current ratio of 2.25, a quick ratio of 1.65 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $46.28 billion, a price-to-earnings ratio of 3.62, a P/E/G ratio of 1.05 and a beta of 1.87.
Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $1.71 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.04. Micron Technology had a return on equity of 40.67% and a net margin of 43.56%. The firm had revenue of $5.84 billion for the quarter, compared to analyst estimates of $5.82 billion. During the same quarter in the prior year, the firm posted $2.82 earnings per share. The company’s quarterly revenue was down 20.6% on a year-over-year basis. Research analysts anticipate that Micron Technology, Inc. will post 6.27 EPS for the current year.
Micron Technology 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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