Stoneridge Investment Partners LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 56.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,513 shares of the semiconductor manufacturer’s stock after buying an additional 51,576 shares during the period. Stoneridge Investment Partners LLC’s holdings in Micron Technology were worth $4,255,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the company. Guardian Life Insurance Co. of America increased its stake 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 worth $116,000 after buying an additional 13 shares in the last quarter. First Personal Financial Services increased 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 in the last quarter. Washington Trust Bank increased 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 in the last quarter. Shine Investment Advisory Services Inc. acquired a new stake in shares of Micron Technology during the second quarter worth $141,000. Finally, Coconut Grove Bank increased 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 in the last quarter. 80.36% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology, Inc. (NASDAQ MU) opened at 30.38 on Friday. The stock has a market cap of $33.72 billion, a P/E ratio of 13.34 and a beta of 1.76. The stock has a 50 day moving average price of $29.95 and a 200-day moving average price of $28.20. Micron Technology, Inc. has a 52 week low of $15.38 and a 52 week high of $32.96. Micron Technology also was the recipient of some unusual options trading activity on Wednesday. Investors bought 41,784 put options on the stock. This represents an increase of 107% compared to the typical 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.25. The firm had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.41 billion. Micron Technology had a net margin of 14.66% and a return on equity of 19.05%. The company’s revenue was up 92.2% on a year-over-year basis. During the same period last year, the firm earned ($0.08) EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post $4.71 EPS for the current fiscal year.
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A number of equities research analysts have weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Micron Technology in a report on Thursday, June 8th. Stifel Nicolaus reaffirmed a “buy” rating on shares of Micron Technology in a report on Monday, June 26th. Rosenblatt Securities reaffirmed a “buy” rating on shares of Micron Technology in a report on Tuesday, June 27th. Barclays PLC raised their target price on Micron Technology from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, June 27th. Finally, Zacks Investment Research raised Micron Technology from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and an average price target of $35.65.
In other Micron Technology news, VP April S. Arnzen sold 1,000 shares of Micron Technology stock in a transaction 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 sale, the vice president now directly owns 52,542 shares in the company, valued at approximately $1,615,666.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lawrence N. Mondry sold 25,000 shares of Micron Technology stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $30.62, for a total transaction of $765,500.00. Following the completion of the sale, the director now owns 177,367 shares in the company, valued at $5,430,977.54. The disclosure for this sale can be found here. Over the last quarter, insiders sold 71,250 shares of company stock worth $2,207,515. 0.69% of the stock is currently owned by insiders.
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