Taylor Hoffman Wealth Management raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 165.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,241 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,390 shares during the period. Taylor Hoffman Wealth Management’s holdings in Micron Technology were worth $439,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Virtus ETF Advisers LLC bought a new position in Micron Technology in the second quarter worth $25,000. Doyle Wealth Management bought a new position in Micron Technology in the second quarter worth $30,000. Whittier Trust Co. lifted its position in Micron Technology by 115.2% in the third quarter. Whittier Trust Co. now owns 794 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 425 shares during the period. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Micron Technology in the second quarter worth $37,000. Finally, Griffin Asset Management Inc. bought a new position in Micron Technology in the second quarter worth $39,000. Institutional investors own 76.78% of the company’s stock.
A number of research analysts have issued reports on the company. KeyCorp lifted their price objective on Micron Technology from $58.00 to $59.00 and gave the company an “overweight” rating in a report on Friday, September 27th. Rosenblatt Securities set a $80.00 price objective on Micron Technology and gave the company a “buy” rating in a report on Friday, September 27th. Wedbush lifted their price objective on Micron Technology from $30.00 to $44.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Nomura lifted their price objective on Micron Technology from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Finally, Susquehanna Bancshares set a $45.00 price objective on Micron Technology and gave the company a “hold” rating in a report on Friday, September 27th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $53.36.
Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, September 26th. The semiconductor manufacturer reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.13. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The business had revenue of $4.87 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same quarter in the previous year, the business posted $3.53 EPS. Micron Technology’s revenue for the quarter was down 42.3% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post 2.19 earnings per share for the current fiscal year.
In other Micron Technology news, SVP April S. Arnzen sold 2,477 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $48.47, for a total value of $120,060.19. Following the sale, the senior vice president now owns 72,431 shares in the company, valued at approximately $3,510,730.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP April S. Arnzen sold 2,491 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $45.00, for a total value of $112,095.00. The disclosure for this sale can be found here. Insiders have sold a total of 52,484 shares of company stock worth $2,439,568 in the last quarter. 0.20% of the stock is currently owned by company insiders.
Micron Technology Profile
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.
See Also: What is Cost of Debt?
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.