Cypress Capital Management LLC WY Boosts Position in Micron Technology, Inc. (MU)
Cypress Capital Management LLC WY boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 35.4% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 23,175 shares of the semiconductor manufacturer’s stock after buying an additional 6,060 shares during the period. Micron Technology accounts for about 0.8% of Cypress Capital Management LLC WY’s portfolio, making the stock its 27th largest position. Cypress Capital Management LLC WY’s holdings in Micron Technology were worth $692,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America boosted 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 buying an additional 13 shares in the last quarter. First Personal Financial Services boosted its stake in shares of Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares in the last quarter. Washington Trust Bank boosted its stake in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares in the last quarter. Coconut Grove Bank boosted its stake in shares of Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 5,050 shares in the last quarter. Finally, D. Scott Neal Inc. bought a new stake in shares of Micron Technology during the second quarter worth $190,000. 80.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Micron Technology, Inc. (MU) traded up 0.25% during mid-day trading on Friday, hitting $32.08. 6,909,031 shares of the company’s stock traded hands. The company has a market cap of $35.61 billion, a PE ratio of 14.09 and a beta of 1.78. The firm has a 50-day moving average of $31.24 and a 200 day moving average of $27.26. Micron Technology, Inc. has a 52 week low of $13.02 and a 52 week high of $32.96.
Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. Micron Technology’s revenue was up 92.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.08) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post $4.71 EPS for the current year.
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A number of equities analysts have recently commented on the company. Instinet lifted their price objective on Micron Technology to $40.00 in a research note on Friday, March 24th. UBS AG reiterated an “average” rating and issued a $36.00 price objective (up from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. TheStreet upgraded Micron Technology from a “c” rating to a “b-” rating in a research note on Thursday, March 23rd. Standpoint Research lifted their price objective on Micron Technology from $32.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, March 27th. Finally, MKM Partners reiterated a “buy” rating and issued a $38.00 price objective (up from $34.00) on shares of Micron Technology in a research note on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $35.65.
In other news, Director Mercedes Johnson sold 27,242 shares of Micron Technology stock in a transaction on Friday, April 28th. The shares were sold at an average price of $27.66, for a total transaction of $753,513.72. Following the transaction, the director now owns 54,533 shares in the company, valued at $1,508,382.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Brian Shirley sold 27,250 shares of Micron Technology stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $31.54, for a total transaction of $859,465.00. Following the transaction, the senior vice president now owns 292,211 shares in the company, valued at approximately $9,216,334.94. The disclosure for this sale can be found here. In the last quarter, insiders have sold 70,492 shares of company stock worth $2,109,749. 0.69% of the stock is owned by company insiders.
About Micron Technology
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