GSA Capital Partners LLP Acquires 7,029 Shares of Micron Technology, Inc. (NASDAQ:MU)

GSA Capital Partners LLP raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 22.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,574 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,029 shares during the period. GSA Capital Partners LLP’s holdings in Micron Technology were worth $1,489,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Raymond James Trust N.A. grew its holdings in shares of Micron Technology by 2.2% during the 2nd quarter. Raymond James Trust N.A. now owns 10,868 shares of the semiconductor manufacturer’s stock worth $419,000 after acquiring an additional 238 shares during the period. Berman Capital Advisors LLC grew its holdings in shares of Micron Technology by 56.7% during the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 255 shares during the period. Parallel Advisors LLC grew its holdings in shares of Micron Technology by 6.8% during the 2nd quarter. Parallel Advisors LLC now owns 4,575 shares of the semiconductor manufacturer’s stock worth $177,000 after acquiring an additional 293 shares during the period. Grove Bank & Trust grew its holdings in shares of Micron Technology by 1.7% during the 2nd quarter. Grove Bank & Trust now owns 18,213 shares of the semiconductor manufacturer’s stock worth $703,000 after acquiring an additional 296 shares during the period. Finally, Founders Capital Management grew its holdings in shares of Micron Technology by 12.0% during the 2nd quarter. Founders Capital Management now owns 2,800 shares of the semiconductor manufacturer’s stock worth $108,000 after acquiring an additional 300 shares during the period. 77.06% of the stock is owned by institutional investors and hedge funds.

In related news, SVP April S. Arnzen sold 2,400 shares of the firm’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $48.44, for a total value of $116,256.00. Following the transaction, the senior vice president now directly owns 76,992 shares of the company’s stock, valued at approximately $3,729,492.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Joel L. Poppen sold 654 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $45.64, for a total value of $29,848.56. The disclosure for this sale can be found here. Insiders have sold a total of 57,244 shares of company stock worth $2,624,899 over the last three months. Insiders own 0.20% of the company’s stock.

A number of research analysts have weighed in on the company. Deutsche Bank reiterated a “buy” rating and set a $55.00 target price (up previously from $45.00) on shares of Micron Technology in a report on Wednesday, July 24th. Wedbush assumed coverage on Micron Technology in a report on Wednesday, June 26th. They set a “neutral” rating and a $30.00 target price on the stock. Zacks Investment Research upgraded Micron Technology from a “sell” rating to a “hold” rating in a report on Tuesday, May 21st. Barclays upped their target price on Micron Technology from $40.00 to $50.00 and gave the stock an “overweight” rating in a report on Thursday, July 18th. Finally, Cfra downgraded Micron Technology to a “sell” rating and set a $32.00 target price on the stock. in a report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $48.46.

Shares of NASDAQ MU traded down $1.82 during midday trading on Friday, hitting $42.96. 25,517,924 shares of the stock traded hands, compared to its average volume of 24,704,640. The firm has a 50-day moving average of $43.91 and a two-hundred day moving average of $40.25. The firm has a market capitalization of $49.43 billion, a P/E ratio of 3.63 and a beta of 1.96. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.88 and a current ratio of 2.79. Micron Technology, Inc. has a one year low of $28.39 and a one year high of $53.68.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.30. The firm had revenue of $4.79 billion for the quarter, compared to analysts’ expectations 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 was down 38.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.15 EPS. Equities analysts forecast that Micron Technology, Inc. will post 6.06 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.

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

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