Balasa Dinverno & Foltz LLC Boosts Holdings in Micron Technology, Inc. (NASDAQ:MU)

Balasa Dinverno & Foltz LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 3.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,650 shares of the semiconductor manufacturer’s stock after buying an additional 2,218 shares during the period. Micron Technology accounts for 0.3% of Balasa Dinverno & Foltz LLC’s holdings, making the stock its 29th largest holding. Balasa Dinverno & Foltz LLC’s holdings in Micron Technology were worth $2,770,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in the company. Virtus ETF Advisers LLC bought a new position in Micron Technology during the second quarter worth $25,000. Doyle Wealth Management bought a new position in Micron Technology during the second quarter worth $30,000. Whittier Trust Co. raised its stake in Micron Technology by 115.2% during the third quarter. Whittier Trust Co. now owns 794 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 425 shares during the last quarter. Mitsubishi UFJ Securities Holdings Co. Ltd. bought a new position in Micron Technology during the second quarter worth $37,000. Finally, Griffin Asset Management Inc. bought a new position in Micron Technology during the second quarter worth $39,000. 77.51% of the stock is owned by hedge funds and other institutional investors.

MU traded up $1.07 during midday trading on Wednesday, reaching $46.30. The company had a trading volume of 16,920,075 shares, compared to its average volume of 26,624,592. The business has a 50-day moving average price of $46.86 and a two-hundred day moving average price of $43.01. Micron Technology, Inc. has a 12-month low of $28.39 and a 12-month high of $51.39. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.78 and a current ratio of 2.58. The stock has a market cap of $51.26 billion, a PE ratio of 7.53 and a beta of 1.97.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.13. Micron Technology had a net margin of 26.97% and a return on equity of 19.81%. The company had revenue of $4.87 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the firm posted $3.53 earnings per share. The company’s quarterly revenue was down 42.3% compared to the same quarter last year. On average, research analysts anticipate that Micron Technology, Inc. will post 2.16 earnings per share for the current year.

In related news, SVP April S. Arnzen sold 4,534 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.10, for a total transaction of $209,017.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP April S. Arnzen sold 2,477 shares of the business’s stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $48.47, for a total transaction of $120,060.19. Following the completion of the transaction, the senior vice president now directly owns 72,431 shares of the company’s stock, valued at approximately $3,510,730.57. The disclosure for this sale can be found here. Insiders have sold a total of 54,527 shares of company stock worth $2,536,490 in the last ninety days. 0.20% of the stock is currently owned by insiders.

A number of equities analysts recently weighed in on MU shares. Raymond James reissued a “hold” rating on shares of Micron Technology in a research note on Monday, September 30th. JPMorgan Chase & Co. lifted their price target on shares of Micron Technology from $50.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Nomura lifted their price target on shares of Micron Technology from $32.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, September 27th. Citigroup lifted their price target on shares of Micron Technology from $30.00 to $35.00 and gave the company a “sell” rating in a research note on Friday, September 27th. Finally, Goldman Sachs Group lifted their price target on shares of Micron Technology from $56.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twenty-two have given a buy rating to the company. Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $53.46.

Micron Technology 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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