AT Bancorp Has $4.39 Million Position in Micron Technology (MU)

AT Bancorp decreased its position in shares of Micron Technology (NASDAQ:MU) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 84,244 shares of the semiconductor manufacturer’s stock after selling 5,654 shares during the period. Micron Technology comprises 0.5% of AT Bancorp’s holdings, making the stock its 24th largest holding. AT Bancorp’s holdings in Micron Technology were worth $4,392,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Fulton Bank N.A. acquired a new stake in Micron Technology in the first quarter valued at approximately $224,000. SevenBridge Financial Group LLC boosted its position in Micron Technology by 71.6% in the fourth quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock valued at $180,000 after buying an additional 1,825 shares in the last quarter. Dorsey & Whitney Trust CO LLC acquired a new stake in Micron Technology in the first quarter valued at approximately $242,000. Princeton Capital Management LLC acquired a new stake in Micron Technology in the first quarter valued at approximately $251,000. Finally, Girard Partners LTD. acquired a new stake in Micron Technology in the fourth quarter valued at approximately $207,000. Institutional investors and hedge funds own 81.72% of the company’s stock.

A number of brokerages have weighed in on MU. BidaskClub upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Friday. Royal Bank of Canada began coverage on shares of Micron Technology in a research report on Wednesday. They issued an “outperform” rating and a $80.00 target price on the stock. ValuEngine upgraded shares of Micron Technology from a “hold” rating to a “buy” rating in a research report on Wednesday, May 9th. UBS began coverage on shares of Micron Technology in a research report on Wednesday, April 4th. They issued a “sell” rating and a $35.00 target price on the stock. Finally, Sanford C. Bernstein raised their target price on shares of Micron Technology to $60.00 and gave the company a “market perform” rating in a research report on Monday, March 26th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-seven have given a buy rating and two have given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.18.

In other news, EVP Scott J. Deboer sold 13,695 shares of Micron Technology stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $56.11, for a total transaction of $768,426.45. Following the completion of the transaction, the executive vice president now directly owns 133,799 shares in the company, valued at $7,507,461.89. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Thursday, March 1st. The shares were sold at an average price of $48.00, for a total transaction of $144,000.00. The disclosure for this sale can be found here. Insiders have sold 56,587 shares of company stock valued at $2,871,752 over the last quarter. Corporate insiders own 0.53% of the company’s stock.

NASDAQ:MU opened at $54.70 on Friday. The company has a quick ratio of 2.06, a current ratio of 2.58 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $62.64 billion, a price-to-earnings ratio of 12.40, a P/E/G ratio of 0.49 and a beta of 1.36. Micron Technology has a 12 month low of $54.75 and a 12 month high of $56.39.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.27. The business had revenue of $7.35 billion during the quarter, compared to analysts’ expectations of $7.28 billion. Micron Technology had a net margin of 38.68% and a return on equity of 48.27%. The business’s quarterly revenue was up 58.2% on a year-over-year basis. During the same period last year, the company posted $0.90 earnings per share. research analysts anticipate that Micron Technology will post 10.92 EPS for the current year.

Micron Technology Company 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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