Apriem Advisors Purchases Shares of 11,715 Micron Technology, Inc. (MU)

Apriem Advisors purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,715 shares of the semiconductor manufacturer’s stock, valued at approximately $461,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SevenBridge Financial Group LLC grew its stake in shares of Micron Technology by 87.5% in the 3rd quarter. SevenBridge Financial Group LLC now owns 2,550 shares of the semiconductor manufacturer’s stock valued at $100,000 after buying an additional 1,190 shares during the period. Captrust Financial Advisors purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $107,000. Jacobi Capital Management LLC grew its stake in shares of Micron Technology by 368.8% in the 3rd quarter. Jacobi Capital Management LLC now owns 3,305 shares of the semiconductor manufacturer’s stock valued at $135,000 after buying an additional 2,600 shares during the period. Shine Investment Advisory Services Inc. purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $141,000. Finally, Krilogy Financial LLC grew its stake in shares of Micron Technology by 1,087.5% in the 2nd quarter. Krilogy Financial LLC now owns 4,750 shares of the semiconductor manufacturer’s stock valued at $142,000 after buying an additional 4,350 shares during the period. Hedge funds and other institutional investors own 81.16% of the company’s stock.

Shares of Micron Technology, Inc. (NASDAQ:MU) opened at $41.58 on Thursday. Micron Technology, Inc. has a fifty-two week low of $19.30 and a fifty-two week high of $49.89. The firm has a market cap of $47,525.64, a price-to-earnings ratio of 9.28, a PEG ratio of 0.56 and a beta of 1.75. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.34 and a quick ratio of 1.75.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share for the quarter, beating the Zacks’ 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 analyst estimates of $5.97 billion. During the same period last year, the business earned ($0.01) EPS. The company’s revenue was up 90.8% on a year-over-year basis. sell-side analysts anticipate that Micron Technology, Inc. will post 7.42 earnings per share for the current fiscal year.

MU has been the subject of a number of research analyst reports. Zacks Investment Research cut shares of Micron Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 28th. Morgan Stanley increased their price objective on shares of Micron Technology from $39.00 to $55.00 and gave the stock an “overweight” rating in a research report on Monday, November 27th. Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 price objective (up previously from $52.00) on shares of Micron Technology in a research report on Tuesday, November 28th. Vetr raised shares of Micron Technology from a “hold” rating to a “buy” rating and set a $50.20 price objective for the company in a research report on Tuesday, November 21st. Finally, Cowen reaffirmed a “buy” rating and set a $50.00 price objective on shares of Micron Technology in a research report on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty have given a buy rating and two have 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 $48.20.

In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 118,944 shares of Micron Technology stock in a transaction on Friday, September 29th. The shares were sold at an average price of $38.10, for a total value of $4,531,766.40. Following the transaction, the senior vice president now directly owns 289,940 shares in the company, valued at $11,046,714. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert L. Bailey sold 3,000 shares of Micron Technology stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $39.86, for a total transaction of $119,580.00. Following the completion of the transaction, the director now owns 114,284 shares in the company, valued at $4,555,360.24. The disclosure for this sale can be found here. Insiders sold a total of 308,088 shares of company stock worth $11,852,538 over the last 90 days. Company insiders own 0.69% of the company’s stock.

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Micron Technology Profile

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

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