Westfield Capital Management Co. LP grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 156.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,442,916 shares of the semiconductor manufacturer’s stock after buying an additional 880,646 shares during the period. Westfield Capital Management Co. LP owned 0.13% of Micron Technology worth $43,085,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Micron Technology in the second quarter worth $500,000. Wynnefield Capital Inc. acquired a new stake in shares of Micron Technology in the first quarter worth $13,519,000. Captrust Financial Advisors acquired a new stake in shares of Micron Technology in the second quarter worth $107,000. Guardian Life Insurance Co. of America increased its stake in shares of Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock worth $116,000 after acquiring an additional 13 shares during the period. Finally, Shine Investment Advisory Services Inc. acquired a new stake in shares of Micron Technology in the second quarter worth $141,000. 79.34% of the stock is owned by institutional investors and hedge funds.

In other Micron Technology news, CFO Ernest E. Maddock purchased 3,400 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $27.89 per share, for a total transaction of $94,826.00. Following the completion of the acquisition, the chief financial officer now owns 192,385 shares of the company’s stock, valued at approximately $5,365,617.65. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Scott J. Deboer sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total transaction of $340,000.00. Following the completion of the transaction, the executive vice president now owns 140,232 shares in the company, valued at approximately $4,767,888. The disclosure for this sale can be found here. Insiders sold 73,577 shares of company stock worth $2,305,192 in the last 90 days. 0.69% of the stock is currently owned by insiders.

A number of research firms have recently weighed in on MU. KeyCorp reiterated a “hold” rating on shares of Micron Technology in a research note on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) upgraded shares of Micron Technology from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $33.00 to $40.00 in a research note on Tuesday, September 12th. Citigroup Inc. reiterated a “buy” rating and issued a $45.00 price objective on shares of Micron Technology in a research note on Tuesday, September 12th. Macquarie reiterated an “outperform” rating and issued a $38.00 price objective on shares of Micron Technology in a research note on Tuesday, September 12th. Finally, BidaskClub upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $36.27.

Shares of Micron Technology, Inc. (MU) traded up 0.20% on Friday, hitting $34.65. 37,417,250 shares of the company were exchanged. Micron Technology, Inc. has a 52-week low of $16.17 and a 52-week high of $35.00. The firm has a market cap of $38.46 billion, a P/E ratio of 15.22 and a beta of 1.75. The company has a 50-day moving average price of $30.63 and a 200 day moving average price of $29.31.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The firm had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. During the same quarter last year, the firm posted ($0.08) earnings per share. Micron Technology’s revenue for the quarter was up 92.2% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post $4.72 EPS for the current fiscal year.

WARNING: This article was posted by Daily Political and is the sole property of of Daily Political. If you are accessing this article on another site, it was illegally copied and reposted in violation of US and international copyright legislation. The correct version of this article can be read at https://www.dailypolitical.com/2017/09/17/micron-technology-inc-mu-shares-bought-by-westfield-capital-management-co-lp.html.

Micron Technology Profile

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).

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

Receive News & Ratings for Micron Technology Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology Inc. and related companies with MarketBeat.com's FREE daily email newsletter.