Janney Montgomery Scott LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 18.3% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 138,563 shares of the semiconductor manufacturer’s stock after purchasing an additional 21,426 shares during the period. Janney Montgomery Scott LLC’s holdings in Micron Technology were worth $5,450,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Micron Technology by 0.5% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock valued at $2,307,000 after purchasing an additional 367 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Micron Technology by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock worth $232,000 after acquiring an additional 369 shares during the period. Wesbanco Bank Inc. raised its holdings in shares of Micron Technology by 5.1% during the 2nd quarter. Wesbanco Bank Inc. now owns 9,278 shares of the semiconductor manufacturer’s stock worth $277,000 after acquiring an additional 450 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of Micron Technology by 0.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 134,094 shares of the semiconductor manufacturer’s stock worth $4,005,000 after acquiring an additional 469 shares during the period. Finally, Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Micron Technology during the 2nd quarter worth $500,000. Institutional investors own 81.16% of the company’s stock.

Micron Technology, Inc. (NASDAQ MU) opened at $42.05 on Thursday. The firm has a market capitalization of $48,660.00, a PE ratio of 9.69, a price-to-earnings-growth ratio of 0.58 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75. Micron Technology, Inc. has a 52-week low of $19.78 and a 52-week high of $49.89.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.84 by $0.18. The company had revenue of $6.14 billion during the quarter, compared to the consensus estimate of $5.97 billion. Micron Technology had a return on equity of 32.09% and a net margin of 25.04%. Micron Technology’s revenue was up 90.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.01) EPS. equities research analysts anticipate that Micron Technology, Inc. will post 7.42 earnings per share for the current year.

Several research analysts have recently commented on the company. Zacks Investment Research lowered Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 28th. Morgan Stanley lifted their price target on Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, November 27th. Robert W. Baird reiterated an “outperform” rating and set a $60.00 price target (up previously from $52.00) on shares of Micron Technology in a report on Tuesday, November 28th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price target on the stock in a report on Tuesday, November 21st. Finally, Cowen reiterated a “buy” rating and set a $50.00 price target on shares of Micron Technology in a report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Micron Technology currently has an average rating of “Buy” and a consensus price target of $48.20.

In other Micron Technology news, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $44.55, for a total value of $133,650.00. Following the completion of the transaction, the director now directly owns 117,299 shares of the company’s stock, valued at approximately $5,225,670.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 29,500 shares of Micron Technology stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $35.00, for a total value of $1,032,500.00. Following the completion of the transaction, the executive vice president now owns 169,732 shares of the company’s stock, valued at approximately $5,940,620. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 298,088 shares of company stock valued at $11,512,538. 0.53% of the stock is currently owned by corporate insiders.

TRADEMARK VIOLATION WARNING: This report was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this report on another website, it was illegally stolen and republished in violation of US and international trademark & copyright laws. The original version of this report can be accessed at https://www.thecerbatgem.com/2017/12/14/janney-montgomery-scott-llc-increases-holdings-in-micron-technology-inc-mu.html.

Micron Technology Company Profile

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

Receive News & Stock Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related stocks with our FREE daily email newsletter.