Eqis Capital Management Inc. Increases Holdings in Micron Technology, Inc. (MU)
Eqis Capital Management Inc. raised its position in Micron Technology, Inc. (NASDAQ:MU) by 249.5% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 41,606 shares of the semiconductor manufacturer’s stock after purchasing an additional 29,702 shares during the period. Eqis Capital Management Inc.’s holdings in Micron Technology were worth $1,636,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MU. Captrust Financial Advisors purchased a new position in Micron Technology in the 2nd quarter valued at $107,000. Guardian Life Insurance Co. of America raised its holdings in shares of Micron Technology by 0.3% during the 1st 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. Shine Investment Advisory Services Inc. purchased a new position in shares of Micron Technology during the 2nd quarter worth $141,000. Krilogy Financial LLC raised its holdings in shares of Micron Technology by 1,087.5% during the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock worth $142,000 after acquiring an additional 4,350 shares during the period. Finally, MPS Loria Financial Planners LLC purchased a new position in shares of Micron Technology during the 2nd quarter worth $142,000. Institutional investors own 79.31% of the company’s stock.
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Several research analysts have recently commented on MU shares. Credit Suisse Group reiterated a “buy” rating on shares of Micron Technology in a report on Sunday, July 2nd. Deutsche Bank AG lifted their price target on Micron Technology from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, June 30th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Micron Technology in a report on Tuesday, August 29th. Citigroup Inc. set a $45.00 price target on Micron Technology and gave the stock a “buy” rating in a report on Tuesday, August 29th. Finally, Wells Fargo & Company lifted their price target on Micron Technology from $32.50 to $40.00 and gave the stock an “outperform” rating in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $45.89.
In other news, SVP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $28.22, for a total value of $28,220.00. Following the completion of the transaction, the senior vice president now owns 50,542 shares in the company, valued at approximately $1,426,295.24. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Ernest E. Maddock bought 3,400 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was purchased at an average price of $27.89 per share, with a total value of $94,826.00. Following the transaction, the chief financial officer now owns 192,385 shares in the company, valued at approximately $5,365,617.65. The disclosure for this purchase can be found here. In the last quarter, insiders sold 304,415 shares of company stock valued at $11,322,305. Insiders own 0.69% of the company’s stock.
Shares of Micron Technology, Inc. (NASDAQ MU) traded down 2.45% during midday trading on Thursday, reaching $40.63. The company’s stock had a trading volume of 17,896,637 shares. Micron Technology, Inc. has a 1-year low of $16.45 and a 1-year high of $42.07. The firm has a market capitalization of $45.06 billion, a PE ratio of 9.21 and a beta of 1.82. The company’s 50-day moving average price is $36.80 and its 200 day moving average price is $31.39.
Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business’s revenue was up 90.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.01) EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post $7.61 earnings per share for the current year.
Micron Technology Company Profile
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