Balyasny Asset Management LLC Has $12.32 Million Stake in Micron Technology, Inc. (MU)
Balyasny Asset Management LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MU) by 10.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 412,502 shares of the semiconductor manufacturer’s stock after selling 49,658 shares during the period. Balyasny Asset Management LLC’s holdings in Micron Technology were worth $12,317,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors purchased a new position in Micron Technology in the second quarter valued at about $107,000. 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 valued at $116,000 after purchasing an additional 13 shares during the last quarter. Shine Investment Advisory Services Inc. purchased a new position in Micron Technology in the second quarter valued at about $141,000. FNY Managed Accounts LLC boosted its holdings in Micron Technology by 478.0% in the second quarter. FNY Managed Accounts LLC now owns 5,000 shares of the semiconductor manufacturer’s stock valued at $149,000 after purchasing an additional 4,135 shares during the last quarter. Finally, D. Scott Neal Inc. purchased a new position in Micron Technology in the second quarter valued at about $190,000. 79.32% of the stock is owned by institutional investors.
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In other news, SVP Brian Shirley sold 27,250 shares of the business’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $31.54, for a total value of $859,465.00. Following the completion of the transaction, the senior vice president now owns 292,211 shares of the company’s stock, valued at approximately $9,216,334.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $28.22, for a total transaction of $28,220.00. Following the completion of the transaction, the senior vice president now directly owns 50,542 shares of the company’s stock, valued at approximately $1,426,295.24. The disclosure for this sale can be found here. Insiders sold a total of 314,715 shares of company stock valued at $11,480,040 in the last three months. 0.69% of the stock is owned by company insiders.
A number of brokerages recently commented on MU. Instinet reissued a “buy” rating and issued a $45.00 price target (up previously from $40.00) on shares of Micron Technology in a report on Monday. BMO Capital Markets began coverage on Micron Technology in a report on Monday. They issued a “market perform” rating and a $43.00 price target for the company. Goldman Sachs Group, Inc. (The) reissued a “buy” rating and issued a $43.00 price target on shares of Micron Technology in a report on Saturday, September 30th. Nomura increased their price target on Micron Technology from $40.00 to $45.00 and gave the company a “buy” rating in a report on Friday, September 29th. Finally, MKM Partners reissued a “buy” rating and issued a $52.00 price target (up previously from $45.00) on shares of Micron Technology in a report on Thursday, September 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $44.41.
Shares of Micron Technology, Inc. (MU) opened at 39.56 on Thursday. The firm has a market cap of $43.91 billion, a PE ratio of 17.37 and a beta of 1.82. The stock has a 50 day moving average price of $33.83 and a 200 day moving average price of $30.45. Micron Technology, Inc. has a 12 month low of $16.17 and a 12 month high of $40.54.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The company had revenue of $6.14 billion during the quarter, compared to analyst estimates of $5.97 billion. During the same quarter in the previous year, the business earned ($0.01) EPS. The firm’s revenue was up 90.8% on a year-over-year basis. On average, equities research analysts expect that Micron Technology, Inc. will post $7.55 EPS for the current year.
Micron Technology Profile
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