Seminole Management Co. Inc. Has $56.60 Million Holdings in Micron Technology, Inc. (MU)

Seminole Management Co. Inc. raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 14.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,439,174 shares of the semiconductor manufacturer’s stock after purchasing an additional 182,278 shares during the period. Micron Technology comprises approximately 12.1% of Seminole Management Co. Inc.’s holdings, making the stock its 2nd largest holding. Seminole Management Co. Inc. owned about 0.13% of Micron Technology worth $56,603,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in MU. Wetherby Asset Management Inc. grew its stake in Micron Technology by 1.0% during the 2nd quarter. Wetherby Asset Management Inc. now owns 15,330 shares of the semiconductor manufacturer’s stock worth $457,000 after buying an additional 154 shares during the last quarter. Honkamp Krueger Financial Services Inc. grew its stake in Micron Technology by 0.4% during the 2nd quarter. Honkamp Krueger Financial Services Inc. now owns 52,116 shares of the semiconductor manufacturer’s stock worth $1,556,000 after buying an additional 221 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Micron Technology by 0.5% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 77,260 shares of the semiconductor manufacturer’s stock worth $2,307,000 after buying an additional 367 shares during the last quarter. Parallel Advisors LLC grew its stake in Micron Technology by 4.7% during the 2nd quarter. Parallel Advisors LLC now owns 8,266 shares of the semiconductor manufacturer’s stock worth $232,000 after buying an additional 369 shares during the last quarter. Finally, Advisor Partners LLC grew its stake in Micron Technology by 1.5% during the 2nd quarter. Advisor Partners LLC now owns 24,638 shares of the semiconductor manufacturer’s stock worth $736,000 after buying an additional 372 shares during the last quarter. 77.14% of the stock is currently owned by institutional investors.

Micron Technology, Inc. (NASDAQ:MU) traded up 6.00% during mid-day trading on Tuesday, hitting $44.15. The company had a trading volume of 41,854,332 shares. The company’s 50 day moving average price is $38.68 and its 200-day moving average price is $32.20. Micron Technology, Inc. has a 12-month low of $16.45 and a 12-month high of $44.49. The firm has a market capitalization of $48.96 billion, a PE ratio of 10.01 and a beta of 1.82.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.84 by $0.18. Micron Technology had a net margin of 25.04% and a return on equity of 32.09%. The business had revenue of $6.14 billion for the quarter, compared to analysts’ expectations of $5.97 billion. During the same quarter last year, the firm earned ($0.01) EPS. The firm’s revenue for the quarter was up 90.8% compared to the same quarter last year. On average, analysts forecast that Micron Technology, Inc. will post $7.63 EPS for the current fiscal year.

In other news, CFO Ernest E. Maddock bought 3,400 shares of the company’s stock in a transaction on Friday, August 11th. The shares were purchased at an average price of $27.89 per share, with a total value of $94,826.00. Following the transaction, the chief financial officer now directly owns 192,385 shares in the company, valued at $5,365,617.65. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $32.64, for a total transaction of $97,920.00. Following the transaction, the director now directly owns 117,284 shares in the company, valued at approximately $3,828,149.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 330,415 shares of company stock worth $12,468,675. 0.69% of the stock is owned by insiders.

MU has been the subject of a number of recent research reports. Citigroup Inc. restated a “buy” rating and set a $45.00 price objective on shares of Micron Technology in a research note on Wednesday, August 2nd. BidaskClub upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 12th. Vetr upgraded Micron Technology from a “hold” rating to a “buy” rating and set a $42.77 price objective for the company in a research note on Wednesday, October 25th. Loop Capital restated a “buy” rating and set a $48.00 price objective (up from $46.00) on shares of Micron Technology in a research note on Wednesday, September 27th. Finally, Rosenblatt Securities restated a “buy” rating and set a $75.00 price objective on shares of Micron Technology in a research note on Tuesday, September 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $46.35.

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

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