Micron Technology, Inc. (NASDAQ:MU) Shares Purchased by Front Row Advisors LLC

Front Row Advisors LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 49.5% in the 2nd quarter, Holdings Channel reports. The firm owned 21,880 shares of the semiconductor manufacturer’s stock after acquiring an additional 7,243 shares during the quarter. Front Row Advisors LLC’s holdings in Micron Technology were worth $844,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtus ETF Advisers LLC acquired a new stake in shares of Micron Technology in the 2nd quarter worth $25,000. Doyle Wealth Management acquired a new stake in shares of Micron Technology in the 2nd quarter worth $30,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in shares of Micron Technology in the 2nd quarter worth $37,000. Griffin Asset Management Inc. acquired a new stake in shares of Micron Technology in the 2nd quarter worth $39,000. Finally, Berman Capital Advisors LLC increased its stake in shares of Micron Technology by 59.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 1,125 shares of the semiconductor manufacturer’s stock worth $43,000 after acquiring an additional 420 shares during the last quarter. 76.67% of the stock is owned by hedge funds and other institutional investors.

Micron Technology stock traded down $0.91 during midday trading on Tuesday, reaching $41.94. 1,755,405 shares of the stock traded hands, compared to its average volume of 23,570,470. The company has a 50-day simple moving average of $46.21 and a two-hundred day simple moving average of $41.47. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $51.39. The firm has a market cap of $46.36 billion, a PE ratio of 6.80 and a beta of 1.95. The company has a current ratio of 2.58, a quick ratio of 1.78 and a debt-to-equity ratio of 0.12.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.13. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The company had revenue of $4.87 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the business posted $3.53 EPS. Micron Technology’s revenue for the quarter was down 42.3% on a year-over-year basis. Equities research analysts anticipate that Micron Technology, Inc. will post 2.61 earnings per share for the current year.

A number of analysts have issued reports on MU shares. Goldman Sachs Group raised their target price on Micron Technology from $56.00 to $59.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Cascend Securities reissued a “buy” rating and set a $65.00 price objective (up from $55.00) on shares of Micron Technology in a research report on Tuesday, September 17th. Morgan Stanley reissued a “hold” rating and set a $48.00 price objective on shares of Micron Technology in a research report on Monday, September 23rd. Mizuho set a $50.00 price objective on Micron Technology and gave the stock a “buy” rating in a research report on Thursday, September 26th. Finally, Susquehanna Bancshares set a $45.00 price objective on Micron Technology and gave the stock a “hold” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have given a buy rating to the company. Micron Technology presently has a consensus rating of “Buy” and an average target price of $53.36.

In other news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the completion of the transaction, the executive vice president now owns 130,236 shares in the company, valued at approximately $5,860,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP April S. Arnzen sold 2,477 shares of Micron Technology stock in a transaction dated Wednesday, September 25th. The shares were sold at an average price of $48.47, for a total value of $120,060.19. Following the completion of the transaction, the senior vice president now owns 72,431 shares of the company’s stock, valued at approximately $3,510,730.57. The disclosure for this sale can be found here. Insiders have sold a total of 82,212 shares of company stock valued at $3,857,055 over the last 90 days. 0.20% of the stock is currently owned by company insiders.

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

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