Fox Run Management L.L.C. Acquires Shares of 7,300 Micron Technology, Inc. (MU)

Fox Run Management L.L.C. acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,300 shares of the semiconductor manufacturer’s stock, valued at approximately $218,000.

Other institutional investors have also recently bought and sold shares of the company. Wynnefield Capital Inc. purchased a new position in Micron Technology during the first quarter valued at approximately $13,519,000. Guardian Life Insurance Co. of America increased its position in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the last quarter. First Personal Financial Services boosted its stake in shares of Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock worth $122,000 after buying an additional 2,083 shares during the last quarter. Washington Trust Bank boosted its stake in shares of Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock worth $126,000 after buying an additional 63 shares during the last quarter. Finally, Coconut Grove Bank boosted its stake in shares of Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock worth $156,000 after buying an additional 5,050 shares during the last quarter. Institutional investors and hedge funds own 80.44% of the company’s stock.

Micron Technology, Inc. (NASDAQ:MU) opened at 28.01 on Friday. Micron Technology, Inc. has a 52 week low of $15.08 and a 52 week high of $32.96. The company has a market cap of $31.09 billion, a P/E ratio of 12.30 and a beta of 1.76. The firm’s 50 day moving average is $30.24 and its 200-day moving average is $27.97.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Thursday, June 29th. The semiconductor manufacturer reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.25. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The firm had revenue of $5.57 billion during the quarter, compared to analysts’ expectations of $5.41 billion. During the same quarter in the prior year, the company earned ($0.08) EPS. The company’s revenue was up 92.2% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post $4.71 earnings per share for the current fiscal year.

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MU has been the topic of a number of analyst reports. Morgan Stanley boosted their target price on shares of Micron Technology from $34.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, July 3rd. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $33.00 target price (up previously from $30.00) on shares of Micron Technology in a report on Friday, June 30th. Standpoint Research cut shares of Micron Technology from a “buy” rating to a “reduce” rating in a report on Wednesday, May 24th. BidaskClub cut shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Zacks Investment Research cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a report on Wednesday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $35.65.

In other news, VP April S. Arnzen sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $30.75, for a total value of $30,750.00. Following the completion of the sale, the vice president now owns 52,542 shares of the company’s stock, valued at approximately $1,615,666.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $29.35, for a total transaction of $88,050.00. Following the transaction, the director now owns 124,384 shares of the company’s stock, valued at approximately $3,650,670.40. The disclosure for this sale can be found here. Insiders sold a total of 46,250 shares of company stock valued at $1,442,015 in the last ninety days. Corporate insiders own 0.69% of the company’s stock.

About Micron Technology

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

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