Private Advisor Group LLC Purchases 20,061 Shares of Micron Technology, Inc. (MU)

Private Advisor Group LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 50.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 59,473 shares of the semiconductor manufacturer’s stock after purchasing an additional 20,061 shares during the period. Private Advisor Group LLC’s holdings in Micron Technology were worth $2,690,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. boosted its holdings in shares of Micron Technology by 1.4% during the first quarter. Principal Financial Group Inc. now owns 1,768,868 shares of the semiconductor manufacturer’s stock worth $92,229,000 after acquiring an additional 24,882 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Micron Technology by 18.8% in the second quarter. Fisher Asset Management LLC now owns 6,932 shares of the semiconductor manufacturer’s stock valued at $364,000 after buying an additional 1,096 shares during the period. Xact Kapitalforvaltning AB boosted its stake in shares of Micron Technology by 4.3% in the second quarter. Xact Kapitalforvaltning AB now owns 232,369 shares of the semiconductor manufacturer’s stock valued at $12,185,000 after buying an additional 9,554 shares during the period. Raymond James Trust N.A. raised its position in Micron Technology by 23.5% during the second quarter. Raymond James Trust N.A. now owns 10,388 shares of the semiconductor manufacturer’s stock valued at $545,000 after purchasing an additional 1,977 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Micron Technology during the second quarter valued at approximately $355,000. 74.46% of the stock is owned by institutional investors and hedge funds.

MU stock traded up $1.47 during midday trading on Monday, reaching $40.03. 35,613,038 shares of the company’s stock traded hands, compared to its average volume of 43,804,898. The company has a current ratio of 2.79, a quick ratio of 2.16 and a debt-to-equity ratio of 0.11. Micron Technology, Inc. has a 52-week low of $33.82 and a 52-week high of $64.66. The stock has a market cap of $43.74 billion, a P/E ratio of 3.39, a P/E/G ratio of 0.62 and a beta of 1.63.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The business had revenue of $8.44 billion during the quarter, compared to analyst estimates of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. Micron Technology’s quarterly revenue was up 37.5% compared to the same quarter last year. During the same quarter last year, the business earned $2.02 earnings per share. As a group, equities analysts forecast that Micron Technology, Inc. will post 9.86 earnings per share for the current year.

Several brokerages have commented on MU. Needham & Company LLC lowered their price objective on shares of Micron Technology from $100.00 to $80.00 and set a “strong-buy” rating for the company in a research report on Monday, September 24th. Barclays lowered their price objective on shares of Micron Technology from $60.00 to $50.00 and set an “overweight” rating for the company in a research report on Tuesday, October 23rd. Citigroup lowered their price objective on shares of Micron Technology from $50.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday. Goldman Sachs Group downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $68.00 to $50.00 in a research report on Wednesday, September 12th. Finally, Wells Fargo & Co lowered their price target on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating for the company in a report on Wednesday, August 15th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and an average price target of $64.82.

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Micron Technology Company Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

See Also: Intrinsic Value

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

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