Fox Run Management L.L.C. Takes Position in Micron Technology, Inc. (MU)

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

Several other institutional investors also recently added to or reduced their stakes in the stock. Guardian Life Insurance Co. of America raised its position in shares of 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 in the last quarter. First Personal Financial Services raised its position 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 valued at $122,000 after buying an additional 2,083 shares in the last quarter. Washington Trust Bank raised its position 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 valued at $126,000 after buying an additional 63 shares in the last quarter. Coconut Grove Bank raised its position 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 valued at $156,000 after buying an additional 5,050 shares in the last quarter. Finally, Prospera Financial Services Inc acquired a new position in shares of Micron Technology during the first quarter valued at $201,000. Institutional investors and hedge funds own 80.36% of the company’s stock.

Shares of Micron Technology, Inc. (MU) traded up 2.57% during midday trading on Friday, hitting $30.38. 31,178,131 shares of the stock traded hands. The firm has a 50-day moving average price of $29.95 and a 200 day moving average price of $28.20. The stock has a market cap of $33.72 billion, a price-to-earnings ratio of 13.34 and a beta of 1.76. Micron Technology, Inc. has a one year low of $15.38 and a one year high of $32.96. Micron Technology also was the target of some unusual options trading activity on Wednesday. Investors acquired 41,784 put options on the company. This is an increase of approximately 107% compared to the average daily volume of 20,197 put options.

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

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Several equities analysts recently weighed in on the company. BidaskClub upgraded Micron Technology from a “hold” rating to a “buy” rating in a research note on Saturday. Mizuho restated a “buy” rating and issued a $38.00 price target on shares of Micron Technology in a research note on Wednesday. Morgan Stanley reiterated an “overweight” rating and set a $36.00 price objective on shares of Micron Technology in a research note on Monday, August 14th. Citigroup Inc. reiterated a “buy” rating and set a $45.00 price objective on shares of Micron Technology in a research note on Monday, August 14th. Finally, Cowen and Company reiterated a “buy” rating on shares of Micron Technology in a research note on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $35.65.

In related news, VP April S. Arnzen sold 1,000 shares of the business’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $30.75, for a total transaction 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 legal filing with the SEC, which is available through this link. Also, SVP Brian Shirley sold 27,250 shares of the business’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $31.54, for a total transaction of $859,465.00. Following the sale, the senior vice president now directly owns 292,211 shares of the company’s stock, valued at approximately $9,216,334.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 71,250 shares of company stock valued at $2,207,515. 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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