Rhumbline Advisers raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,842,263 shares of the semiconductor manufacturer’s stock after purchasing an additional 84,562 shares during the quarter. Rhumbline Advisers owned approximately 0.16% of Micron Technology worth $72,456,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Micron Technology in the second quarter worth $500,000. IHT Wealth Management LLC bought a new position in Micron Technology in the second quarter valued at about $1,056,000. Jacobi Capital Management LLC grew its position in Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after acquiring an additional 2,600 shares during the last quarter. Captrust Financial Advisors bought a new position in Micron Technology in the second quarter valued at about $107,000. Finally, Northwest Investment Counselors LLC bought a new position in Micron Technology in the third quarter valued at about $184,000. 75.45% of the stock is owned by institutional investors.

In other news, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $32.64, for a total value of $97,920.00. Following the transaction, the director now directly owns 117,284 shares in the company, valued at $3,828,149.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Lawrence N. Mondry sold 25,000 shares of the business’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $30.62, for a total value of $765,500.00. Following the completion of the transaction, the director now owns 177,367 shares in the company, valued at $5,430,977.54. The disclosure for this sale can be found here. Insiders sold 333,415 shares of company stock valued at $12,602,325 in the last ninety days. 0.69% of the stock is currently owned by corporate insiders.

ILLEGAL ACTIVITY NOTICE: This news story was first posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another website, it was copied illegally and reposted in violation of US & international trademark and copyright law. The correct version of this news story can be accessed at https://www.dailypolitical.com/2017/11/13/rhumbline-advisers-increases-holdings-in-micron-technology-inc-mu.html.

A number of equities analysts recently commented on MU shares. Mizuho reaffirmed a “buy” rating and issued a $40.00 price objective (up from $38.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Longbow Research reaffirmed a “buy” rating and issued a $50.00 price objective (up from $42.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Cowen and Company reaffirmed an “outperform” rating and issued a $43.00 price objective (up from $40.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Deutsche Bank AG reaffirmed a “buy” rating and issued a $43.00 price objective (up from $42.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Finally, BMO Capital Markets started coverage on Micron Technology in a research note on Monday, October 2nd. They issued a “market perform” rating and a $43.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $46.96.

Micron Technology, Inc. (MU) traded up $0.82 during trading on Monday, hitting $45.60. The company’s stock had a trading volume of 30,023,195 shares, compared to its average volume of 28,969,953. The company has a market cap of $52,600.00, a price-to-earnings ratio of 10.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.78. Micron Technology, Inc. has a twelve month low of $16.90 and a twelve month high of $45.33. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 EPS for the quarter, topping the Zacks’ consensus estimate of $1.84 by $0.18. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same quarter last year, the company earned ($0.01) EPS. The company’s quarterly revenue was up 90.8% compared to the same quarter last year. research analysts expect that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

Micron Technology Company 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.