First Dallas Securities Inc. Trims Stake in Micron Technology, Inc. (MU)
First Dallas Securities Inc. reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,375 shares of the semiconductor manufacturer’s stock after selling 3,950 shares during the period. First Dallas Securities Inc.’s holdings in Micron Technology were worth $723,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in MU. Putnam FL Investment Management Co. bought a new stake in Micron Technology in the third quarter valued at approximately $499,000. Strategic Wealth Advisors Group LLC bought a new stake in Micron Technology in the third quarter valued at approximately $738,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Micron Technology by 82.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 82,010 shares of the semiconductor manufacturer’s stock valued at $3,225,000 after acquiring an additional 37,082 shares during the last quarter. Bank Hapoalim BM boosted its holdings in Micron Technology by 12.6% in the third quarter. Bank Hapoalim BM now owns 53,000 shares of the semiconductor manufacturer’s stock valued at $2,084,000 after acquiring an additional 5,925 shares during the last quarter. Finally, Stratos Wealth Partners LTD. bought a new stake in Micron Technology in the third quarter valued at approximately $519,000. Institutional investors own 75.45% of the company’s stock.
MU has been the topic of several analyst reports. J P Morgan Chase & Co reiterated a “buy” rating on shares of Micron Technology in a report on Tuesday, August 29th. Credit Suisse Group reiterated an “outperform” rating and issued a $50.00 target price (up from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Citigroup Inc. set a $45.00 price target on Micron Technology and gave the stock a “buy” rating in a report on Tuesday, August 29th. KeyCorp restated a “hold” rating on shares of Micron Technology in a report on Friday, October 27th. Finally, Nomura increased their price target on Micron Technology from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $47.11.
Shares of Micron Technology, Inc. (NASDAQ:MU) traded up $0.74 during trading on Thursday, reaching $46.10. The company’s stock had a trading volume of 12,536,123 shares, compared to its average volume of 28,951,650. The company has a quick ratio of 1.75, a current ratio of 2.34 and a debt-to-equity ratio of 0.51. The stock has a market cap of $53,120.00, a PE ratio of 10.31, a P/E/G ratio of 0.62 and a beta of 1.78. Micron Technology, Inc. has a 1-year low of $17.93 and a 1-year high of $46.00.
Micron Technology (NASDAQ:MU) last announced its quarterly 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. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. The business’s quarterly revenue was up 90.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. sell-side analysts forecast that Micron Technology, Inc. will post 7.42 earnings per share for the current year.
In other news, EVP Scott J. Deboer sold 30,000 shares of Micron Technology stock in a transaction that occurred on Friday, October 20th. The stock was sold at an average price of $42.00, for a total value of $1,260,000.00. Following the sale, the executive vice president now directly owns 122,667 shares in the company, valued at approximately $5,152,014. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $32.64, for a total value of $97,920.00. Following the completion of the sale, the director now owns 117,284 shares in the company, valued at $3,828,149.76. The disclosure for this sale can be found here. Insiders sold a total of 308,415 shares of company stock worth $11,836,825 over the last ninety days. Insiders own 0.69% of the company’s stock.
Micron Technology Company Profile
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