Oppenheimer Asset Management Inc. Purchases 10,552 Shares of Micron Technology, Inc. (NASDAQ:MU)

Oppenheimer Asset Management Inc. lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 2,806.4% in the 2nd quarter, Holdings Channel reports. The fund owned 10,928 shares of the semiconductor manufacturer’s stock after acquiring an additional 10,552 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Micron Technology were worth $421,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Berman Capital Advisors LLC increased its position in Micron Technology by 56.7% during the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 255 shares in the last quarter. Citizens Financial Group Inc RI bought a new position in Micron Technology during the 1st quarter valued at approximately $37,000. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Micron Technology during the 2nd quarter valued at approximately $37,000. Huntington National Bank increased its position in Micron Technology by 40.9% during the 2nd quarter. Huntington National Bank now owns 1,271 shares of the semiconductor manufacturer’s stock valued at $49,000 after buying an additional 369 shares in the last quarter. Finally, Ibex Wealth Advisors bought a new position in Micron Technology during the 2nd quarter valued at approximately $53,000. 76.73% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on MU shares. Wedbush started coverage on Micron Technology in a research report on Wednesday, June 26th. They set a “neutral” rating and a $30.00 price objective for the company. Barclays raised their price objective on Micron Technology from $40.00 to $50.00 and gave the company an “overweight” rating in a research report on Thursday, July 18th. Susquehanna Bancshares reaffirmed a “hold” rating on shares of Micron Technology in a research report on Monday, August 26th. Longbow Research upgraded Micron Technology from a “neutral” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Wednesday. Finally, Piper Jaffray Companies cut their target price on Micron Technology from $40.00 to $36.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $50.19.

In other news, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the executive vice president now directly owns 130,236 shares in the company, valued at approximately $5,860,620. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP April S. Arnzen sold 2,491 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $45.00, for a total value of $112,095.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 59,735 shares of company stock worth $2,736,994. Company insiders own 0.20% of the company’s stock.

Shares of MU stock traded up $0.27 on Thursday, reaching $50.75. The stock had a trading volume of 7,696,049 shares, compared to its average volume of 29,122,684. The stock has a market cap of $54.23 billion, a P/E ratio of 4.29 and a beta of 1.95. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $51.39. 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 50 day simple moving average of $44.93 and a 200 day simple moving average of $40.76.

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, topping the Zacks’ consensus estimate of $0.75 by $0.30. The firm had revenue of $4.79 billion for the quarter, compared to the consensus estimate of $4.70 billion. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. The company’s revenue for the quarter was down 38.6% on a year-over-year basis. During the same period last year, the business posted $3.15 EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.07 earnings per share for the current fiscal year.

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.

Further Reading: What does a bar chart mean for investors?

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit