Eqis Capital Management Inc. reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,321 shares of the semiconductor manufacturer’s stock after selling 760 shares during the quarter. Eqis Capital Management Inc.’s holdings in Micron Technology were worth $1,479,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of MU. Financial Gravity Wealth Inc. purchased a new stake in Micron Technology during the 1st quarter valued at $55,000. Advisor Partners LLC grew its stake 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 acquiring an additional 4,715 shares in the last quarter. Winslow Evans & Crocker Inc. grew its stake 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 acquiring an additional 1,974 shares in the last quarter. Atalanta Sosnoff Capital LLC bought a new position in Micron Technology in the 2nd quarter worth about $15,766,000. Finally, Voit & Company LLC grew its stake in Micron Technology by 7.4% in the 1st quarter. Voit & Company LLC now owns 21,452 shares of the semiconductor manufacturer’s stock worth $887,000 after acquiring an additional 1,470 shares in the last quarter. 77.36% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP April S. Arnzen sold 2,400 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $48.44, for a total value of $116,256.00. Following the completion of the transaction, the senior vice president now owns 76,992 shares in the company, valued at approximately $3,729,492.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive vice president now owns 130,236 shares of the company’s stock, valued at approximately $5,860,620. The disclosure for this sale can be found here. Insiders have sold a total of 56,163 shares of company stock valued at $2,575,562 in the last quarter. 0.20% of the stock is currently owned by company insiders.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 EPS for the quarter, topping the consensus estimate of $0.75 by $0.30. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The company had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. During the same quarter in the previous year, the business posted $3.15 EPS. The firm’s revenue was down 38.6% on a year-over-year basis. Analysts predict that Micron Technology, Inc. will post 6.06 earnings per share for the current fiscal year.
A number of research analysts have issued reports on MU shares. KeyCorp reaffirmed an “overweight” rating and issued a $136.00 price target (up previously from $127.00) on shares of Coupa Software in a report on Wednesday, June 26th. Mizuho decreased their price target on shares of Intel from $56.00 to $52.00 and set a “buy” rating for the company in a report on Thursday, July 11th. They noted that the move was a valuation call. Needham & Company LLC raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Wednesday, June 26th. Rosenblatt Securities reissued a “buy” rating and set a $60.00 target price on shares of Micron Technology in a report on Friday, May 24th. Finally, Barclays set a €81.00 ($94.19) target price on shares of Fresenius Medical Care AG & Co. KGaA and gave the stock a “buy” rating in a report on Thursday, July 18th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seventeen have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $48.27.
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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