Micron Technology (MU) Stake Lessened by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC lessened its stake in Micron Technology (NASDAQ:MU) by 18.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,551 shares of the semiconductor manufacturer’s stock after selling 2,220 shares during the quarter. Alpha Cubed Investments LLC’s holdings in Micron Technology were worth $498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of MU. Fulton Bank N.A. purchased a new position in Micron Technology in the 1st quarter worth about $224,000. SevenBridge Financial Group LLC raised its position in Micron Technology by 71.6% in the 4th quarter. SevenBridge Financial Group LLC now owns 4,375 shares of the semiconductor manufacturer’s stock worth $180,000 after buying an additional 1,825 shares during the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in Micron Technology in the 1st quarter worth about $242,000. Princeton Capital Management LLC purchased a new position in Micron Technology in the 1st quarter worth about $251,000. Finally, Girard Partners LTD. purchased a new position in Micron Technology in the 4th quarter worth about $207,000. 81.72% of the stock is owned by hedge funds and other institutional investors.

In related news, SVP April S. Arnzen sold 532 shares of the stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $59.80, for a total transaction of $31,813.60. Following the sale, the senior vice president now owns 57,437 shares in the company, valued at approximately $3,434,732.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mercedes Johnson sold 25,000 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $50.50, for a total value of $1,262,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 56,587 shares of company stock worth $2,871,752 over the last ninety days. Insiders own 0.53% of the company’s stock.

A number of equities analysts have weighed in on the company. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research report on Friday. Goldman Sachs set a $55.00 target price on Micron Technology and gave the stock a “buy” rating in a research report on Wednesday, February 7th. Stifel Nicolaus reissued a “buy” rating on shares of Micron Technology in a research report on Friday, March 23rd. Mizuho reissued a “buy” rating and issued a $70.00 target price (up previously from $66.00) on shares of Micron Technology in a research report on Friday, March 23rd. Finally, Morgan Stanley decreased their target price on Micron Technology from $55.00 to $54.00 and set an “overweight” rating for the company in a research report on Tuesday, February 6th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $64.18.

Micron Technology opened at $54.70 on Friday, MarketBeat Ratings reports. Micron Technology has a 1-year low of $54.75 and a 1-year high of $56.39. The company has a quick ratio of 2.06, a current ratio of 2.58 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $62.64 billion, a price-to-earnings ratio of 12.40, a price-to-earnings-growth ratio of 0.49 and a beta of 1.36.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, March 22nd. The semiconductor manufacturer reported $2.82 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.27. The business had revenue of $7.35 billion for the quarter, compared to analysts’ expectations of $7.28 billion. Micron Technology had a return on equity of 48.27% and a net margin of 38.68%. The company’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. sell-side analysts expect that Micron Technology will post 10.92 EPS for the current fiscal year.

Micron Technology Company Profile

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply