Cipher Capital LP increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 95.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 249,799 shares of the semiconductor manufacturer’s stock after buying an additional 122,126 shares during the period. Micron Technology accounts for about 0.6% of Cipher Capital LP’s investment portfolio, making the stock its 20th largest position. Cipher Capital LP’s holdings in Micron Technology were worth $7,459,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. Guardian Life Insurance Co. of America raised 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 valued at $116,000 after buying an additional 13 shares during the last quarter. Wetherby Asset Management Inc. raised its stake in shares of Micron Technology by 1.0% in the second quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock valued at $457,000 after buying an additional 154 shares during the last quarter. Neuberger Berman Group LLC raised its stake in shares of Micron Technology by 1.4% in the first quarter. Neuberger Berman Group LLC now owns 12,407 shares of the semiconductor manufacturer’s stock valued at $359,000 after buying an additional 170 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Micron Technology by 0.5% in the first quarter. Ameritas Investment Partners Inc. now owns 43,675 shares of the semiconductor manufacturer’s stock valued at $1,262,000 after buying an additional 203 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. raised its stake in shares of Micron Technology by 0.4% in the second quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock valued at $1,556,000 after buying an additional 221 shares during the last quarter. Institutional investors own 79.33% of the company’s stock.

Micron Technology, Inc. (NASDAQ MU) opened at 32.615 on Friday. The stock has a market cap of $36.20 billion, a PE ratio of 14.324 and a beta of 1.76. The company’s 50 day moving average is $30.07 and its 200 day moving average is $28.61. Micron Technology, Inc. has a 12 month low of $16.14 and a 12 month high of $32.96.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.25. The business had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.08) EPS. On average, analysts anticipate that Micron Technology, Inc. will post $4.71 EPS for the current fiscal year.

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Several brokerages have recently issued reports on MU. UBS AG restated an “average” rating and set a $36.00 price target (up previously from $32.00) on shares of Micron Technology in a research note on Friday, June 30th. Credit Suisse Group restated an “outperform” rating on shares of Micron Technology in a research note on Thursday. Standpoint Research lowered shares of Micron Technology from a “buy” rating to a “reduce” rating in a research note on Wednesday, May 24th. Macquarie restated an “outperform” rating and set a $35.00 price target on shares of Micron Technology in a research note on Wednesday, June 14th. Finally, BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. 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 one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $35.65.

In other news, VP Scott J. Deboer sold 10,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, June 7th. The shares were sold at an average price of $32.00, for a total value of $320,000.00. Following the transaction, the vice president now owns 150,232 shares of the company’s stock, valued at approximately $4,807,424. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Brian Shirley sold 27,250 shares of Micron Technology stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 292,211 shares in the company, valued at approximately $9,216,334.94. The disclosure for this sale can be found here. Insiders have sold a total of 70,250 shares of company stock worth $2,176,765 in the last three months. Insiders own 0.69% of the company’s stock.

About Micron Technology

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

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