Fox Run Management L.L.C. Acquires 6,682 Shares of Micron Technology, Inc. (MU)
Fox Run Management L.L.C. increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 23.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,682 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,682 shares during the period. Micron Technology comprises about 0.4% of Fox Run Management L.L.C.’s investment portfolio, making the stock its 14th biggest position. Fox Run Management L.L.C.’s holdings in Micron Technology were worth $1,426,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. IHT Wealth Management LLC acquired a new position in Micron Technology in the second quarter valued at about $1,056,000. SevenBridge Financial Group LLC boosted its position in Micron Technology by 87.5% in the third quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after buying an additional 1,190 shares in the last quarter. Salem Investment Counselors Inc. boosted its position in Micron Technology by 76.0% in the third quarter. Salem Investment Counselors Inc. now owns 2,900 shares of the semiconductor manufacturer’s stock valued at $115,000 after buying an additional 1,252 shares in the last quarter. Jacobi Capital Management LLC boosted its position in Micron Technology by 368.8% in the third quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 2,600 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new position in Micron Technology in the third quarter valued at about $204,000. Institutional investors and hedge funds own 80.92% of the company’s stock.
In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 60,921 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $42.40, for a total value of $2,583,050.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, October 20th. The shares were sold at an average price of $42.00, for a total transaction of $1,260,000.00. Following the completion of the sale, the executive vice president now directly owns 122,667 shares of the company’s stock, valued at approximately $5,152,014. The disclosure for this sale can be found here. Over the last three months, insiders have sold 188,720 shares of company stock valued at $8,046,240. 0.53% of the stock is currently owned by insiders.
Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, December 19th. The semiconductor manufacturer reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.85 by $0.60. The business had revenue of $6.80 billion during the quarter, compared to the consensus estimate of $6.43 billion. Micron Technology had a net margin of 32.77% and a return on equity of 41.87%. Micron Technology’s revenue for the quarter was up 71.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.32 earnings per share. equities analysts anticipate that Micron Technology, Inc. will post 9.78 earnings per share for the current fiscal year.
MU has been the topic of a number of recent analyst reports. Wells Fargo & Co restated a “buy” rating and issued a $54.00 price target (up from $45.00) on shares of Micron Technology in a research report on Wednesday, December 20th. Zacks Investment Research downgraded shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 28th. BidaskClub raised shares of Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, December 21st. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 target price for the company in a research note on Wednesday, October 25th. Finally, Cowen set a $50.00 target price on shares of Micron Technology and gave the stock a “buy” rating in a research note on Tuesday, December 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Micron Technology presently has an average rating of “Buy” and a consensus price target of $55.33.
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Micron Technology Company Profile
Micron Technology, Inc is engaged in semiconductor systems. The Company’s portfolio of memory technologies, including dynamic random-access memory (DRAM), negative-AND (NAND) Flash and NOR Flash are the basis for solid-state drives, modules, multi-chip packages and other system solutions. Its business segments include Compute and Networking Business Unit (CNBU), which includes memory products sold into compute, networking, graphics and cloud server markets; Mobile Business Unit (MBU), which includes memory products sold into smartphone, tablet and other mobile-device markets; Storage Business Unit (SBU), which includes memory products sold into enterprise, client, cloud and removable storage markets, and SBU also includes products sold to Intel through its Intel/Micron Flash Technology (IMFT) joint venture, and Embedded Business Unit (EBU), which includes memory products sold into automotive, industrial, connected home and consumer electronics markets.
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