Micron Technology, Inc. (MU) Shares Bought by Federated Investors Inc. PA
Federated Investors Inc. PA lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 35.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,102 shares of the semiconductor manufacturer’s stock after purchasing an additional 18,702 shares during the period. Federated Investors Inc. PA’s holdings in Micron Technology were worth $2,123,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Guardian Life Insurance Co. of America boosted its holdings in 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 in the last quarter. First Personal Financial Services boosted its holdings in 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 acquiring an additional 2,083 shares in the last quarter. Shine Investment Advisory Services Inc. bought a new position in Micron Technology in the second quarter worth approximately $141,000. D. Scott Neal Inc. bought a new position in Micron Technology in the second quarter worth approximately $190,000. Finally, Driehaus Capital Management LLC bought a new position in Micron Technology in the first quarter worth approximately $204,000. Institutional investors own 79.34% of the company’s stock.
Shares of Micron Technology, Inc. (NASDAQ:MU) opened at 32.45 on Friday. Micron Technology, Inc. has a 1-year low of $16.17 and a 1-year high of $33.02. The company has a market cap of $36.02 billion, a price-to-earnings ratio of 14.25 and a beta of 1.75. The company’s 50-day moving average price is $30.12 and its 200 day moving average price is $28.93.
Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.25. The company had revenue of $5.57 billion during 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%. Micron Technology’s quarterly revenue was up 92.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, analysts predict that Micron Technology, Inc. will post $4.72 earnings per share for the current fiscal year.
Several research analysts have issued reports on the company. UBS AG reiterated an “average” rating and issued a $36.00 price target (up previously from $32.00) on shares of Micron Technology in a report on Friday, June 30th. Morgan Stanley reiterated an “overweight” rating and issued a $36.00 price target on shares of Micron Technology in a report on Wednesday. Credit Suisse Group reiterated an “outperform” rating and issued a $40.00 price target on shares of Micron Technology in a report on Wednesday. Robert W. Baird reiterated an “outperform” rating and issued a $48.00 price target on shares of Micron Technology in a report on Wednesday, August 23rd. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $45.00 price target on shares of Micron Technology in a report on Wednesday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Micron Technology currently has an average rating of “Buy” and a consensus price target of $35.65.
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In related news, CFO Ernest E. Maddock acquired 3,400 shares of the company’s stock in a transaction on Friday, August 11th. The stock was acquired at an average price of $27.89 per share, with a total value of $94,826.00. Following the acquisition, the chief financial officer now directly owns 192,385 shares of the company’s stock, valued at $5,365,617.65. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert L. Bailey sold 3,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $29.35, for a total transaction of $88,050.00. Following the transaction, the director now directly owns 124,384 shares of the company’s stock, valued at approximately $3,650,670.40. The disclosure for this sale can be found here. Insiders sold a total of 63,577 shares of company stock valued at $1,965,192 in the last ninety days. 0.69% of the stock is currently owned by insiders.
About Micron Technology
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