Wetherby Asset Management Inc. Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Wetherby Asset Management Inc. increased its position in Micron Technology, Inc. (NASDAQ:MU) by 5.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,945 shares of the semiconductor manufacturer’s stock after purchasing an additional 991 shares during the quarter. Wetherby Asset Management Inc.’s holdings in Micron Technology were worth $770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Gemmer Asset Management LLC increased its holdings in shares of Micron Technology by 49.9% in the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 235 shares in the last quarter. Raymond James Trust N.A. increased its holdings in shares of Micron Technology by 2.2% in the 2nd quarter. Raymond James Trust N.A. now owns 10,868 shares of the semiconductor manufacturer’s stock worth $419,000 after purchasing an additional 238 shares in the last quarter. Berman Capital Advisors LLC increased its holdings in shares of Micron Technology by 56.7% in the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 255 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of Micron Technology by 1.7% in the 2nd quarter. Grove Bank & Trust now owns 18,213 shares of the semiconductor manufacturer’s stock worth $703,000 after purchasing an additional 296 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in shares of Micron Technology by 73.3% in the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 77.29% of the company’s stock.

NASDAQ:MU traded up $0.11 during mid-day trading on Wednesday, hitting $42.73. 8,615,253 shares of the company traded hands, compared to its average volume of 30,942,716. The company has a fifty day moving average of $41.65. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $53.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.88 and a current ratio of 2.79. The company has a market cap of $48.66 billion, a price-to-earnings ratio of 3.62 and a beta of 1.96.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.30. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The business had revenue of $4.79 billion during the quarter, compared to analyst estimates of $4.70 billion. During the same quarter in the previous year, the company posted $3.15 earnings per share. Micron Technology’s revenue for the quarter was down 38.6% on a year-over-year basis. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.06 EPS for the current fiscal year.

A number of analysts have commented on the company. Mizuho reissued a “hold” rating and issued a $44.00 target price on shares of Micron Technology in a report on Thursday, July 11th. Robert W. Baird reduced their target price on Micron Technology from $32.00 to $28.00 and set an “underperform” rating for the company in a report on Friday, June 21st. Wedbush assumed coverage on Micron Technology in a report on Wednesday, June 26th. They issued a “neutral” rating and a $30.00 target price for the company. Cfra lowered Micron Technology to a “sell” rating and set a $32.00 target price for the company. in a report on Wednesday, May 22nd. Finally, KeyCorp reduced their target price on Micron Technology from $48.00 to $45.00 and set an “overweight” rating for the company in a report on Wednesday, June 26th. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $48.27.

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the sale, the executive vice president now owns 130,236 shares of the company’s stock, valued at $5,860,620. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP April S. Arnzen sold 4,800 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $45.00, for a total value of $216,000.00. Following the sale, the senior vice president now directly owns 79,392 shares of the company’s stock, valued at approximately $3,572,640. The disclosure for this sale can be found here. Insiders have sold 57,244 shares of company stock valued at $2,624,899 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

Micron Technology Company Profile

Micron Technology, Inc engages in the provision of innovative memory and storage solutions. It operates through the following segments: Compute and Networking Business Unit (CNBU); Mobile Business Unit (MBU); Storage Business Unit (SBU); and Embedded Business Unit (EBU). The Compute and Networking Business Unit segment includes memory products sold into cloud server, enterprise, client, graphics, and networking markets.

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

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