Seeyond Increases Holdings in Micron Technology, Inc. (NASDAQ:MU)
Seeyond increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,442 shares of the semiconductor manufacturer’s stock after purchasing an additional 940 shares during the quarter. Seeyond’s holdings in Micron Technology were worth $1,445,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Berman Capital Advisors LLC lifted its position in shares of Micron Technology by 56.7% in the first quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock valued at $29,000 after acquiring an additional 255 shares in the last quarter. Citizens Financial Group Inc RI bought a new position in Micron Technology during the first quarter worth about $37,000. Mitsubishi UFJ Securities Holdings Co. Ltd. acquired a new stake in Micron Technology during the second quarter valued at approximately $37,000. Huntington National Bank boosted its holdings in Micron Technology by 40.9% during the second quarter. Huntington National Bank now owns 1,271 shares of the semiconductor manufacturer’s stock valued at $49,000 after purchasing an additional 369 shares in the last quarter. Finally, Ibex Wealth Advisors bought a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $53,000. Hedge funds and other institutional investors own 76.73% of the company’s stock.
A number of brokerages recently issued reports on MU. Susquehanna Bancshares reiterated a “hold” rating on shares of Micron Technology in a research report on Monday, August 26th. Royal Bank of Canada set a $55.00 price objective on shares of Micron Technology and gave the company a “buy” rating in a report on Wednesday, August 21st. Stifel Nicolaus cut their target price on shares of Micron Technology from $60.00 to $54.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Morgan Stanley upgraded shares of Micron Technology from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $31.00 to $48.00 in a report on Tuesday, July 30th. Finally, Wedbush assumed coverage on shares of Micron Technology in a report on Wednesday, June 26th. They issued a “neutral” rating and a $30.00 price target for the company. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-one have given a buy rating to the stock. Micron Technology presently has an average rating of “Buy” and an average price target of $50.19.
Shares of NASDAQ:MU traded up $0.94 on Wednesday, reaching $50.33. 1,885,261 shares of the company’s stock were exchanged, compared to its average volume of 19,280,410. Micron Technology, Inc. has a twelve month low of $28.39 and a twelve month high of $50.00. The company has a fifty day moving average of $44.86 and a 200-day moving average of $40.72. The company has a market capitalization of $54.23 billion, a price-to-earnings ratio of 4.25 and a beta of 1.95. The company has a current ratio of 2.79, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10.
Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 net margin of 37.35% and a return on equity of 30.94%. The business’s revenue for the quarter was down 38.6% on a year-over-year basis. During the same period in the prior year, the company posted $3.15 earnings per share. As a group, equities research analysts forecast that Micron Technology, Inc. will post 6.07 EPS 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.
See Also: Why is Cost of Capital Important?
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).
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.