4,586 Shares in Micron Technology, Inc. (MU) Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,586 shares of the semiconductor manufacturer’s stock, valued at approximately $204,000.

Several other hedge funds also recently bought and sold shares of the company. Capital Research Global Investors lifted its stake in shares of Micron Technology by 386.6% in the 2nd quarter. Capital Research Global Investors now owns 39,794,346 shares of the semiconductor manufacturer’s stock valued at $1,188,259,000 after purchasing an additional 31,616,346 shares during the period. Dimensional Fund Advisors LP raised its stake in Micron Technology by 0.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 14,080,297 shares of the semiconductor manufacturer’s stock worth $420,639,000 after buying an additional 74,670 shares during the period. Janus Henderson Group PLC raised its stake in Micron Technology by 292.8% during the 2nd quarter. Janus Henderson Group PLC now owns 11,850,988 shares of the semiconductor manufacturer’s stock worth $353,885,000 after buying an additional 8,834,274 shares during the period. Amerigo Asset Management raised its stake in Micron Technology by 11.9% during the 2nd quarter. Amerigo Asset Management now owns 8,077,460 shares of the semiconductor manufacturer’s stock worth $241,193,000 after buying an additional 860,000 shares during the period. Finally, CI Investments Inc. raised its stake in Micron Technology by 0.5% during the 3rd quarter. CI Investments Inc. now owns 7,570,300 shares of the semiconductor manufacturer’s stock worth $297,740,000 after buying an additional 35,300 shares during the period. 75.45% of the stock is currently owned by institutional investors.

In related news, EVP Scott J. Deboer sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $34.00, for a total value of $340,000.00. Following the sale, the executive vice president now owns 140,232 shares in the company, valued at approximately $4,767,888. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert L. Bailey sold 3,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $32.64, for a total transaction of $97,920.00. Following the completion of the sale, the director now owns 117,284 shares in the company, valued at approximately $3,828,149.76. The disclosure for this sale can be found here. Insiders have sold 308,415 shares of company stock worth $11,836,825 in the last quarter. Company insiders own 0.69% of the company’s stock.

MU has been the subject of a number of research reports. Vetr cut Micron Technology from a “buy” rating to a “hold” rating and set a $47.81 target price for the company. in a report on Friday. Mizuho reiterated a “buy” rating and set a $40.00 target price (up previously from $38.00) on shares of Micron Technology in a report on Wednesday, September 27th. Longbow Research reiterated a “buy” rating and set a $50.00 target price (up previously from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. Cowen and Company reiterated an “outperform” rating and set a $43.00 target price (up previously from $40.00) on shares of Micron Technology in a report on Wednesday, September 27th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $43.00 target price (up previously from $42.00) on shares of Micron Technology in a report on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $47.12.

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Micron Technology, Inc. (MU) traded down $0.02 during mid-day trading on Friday, reaching $46.16. 22,279,653 shares of the company traded hands, compared to its average volume of 28,901,803. The firm has a market capitalization of $53,260.00, a price-to-earnings ratio of 10.31, a price-to-earnings-growth ratio of 0.62 and a beta of 1.78. The company has a current ratio of 2.34, a quick ratio of 1.75 and a debt-to-equity ratio of 0.51. Micron Technology, Inc. has a 1-year low of $18.18 and a 1-year high of $46.55.

Micron Technology (NASDAQ:MU) last released its earnings results on Tuesday, September 26th. The semiconductor manufacturer reported $2.02 earnings per share (EPS) for the quarter, beating the 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 quarter in the previous year, the business earned ($0.01) earnings per share. Micron Technology’s revenue for the quarter was up 90.8% on a year-over-year basis. equities analysts anticipate that Micron Technology, Inc. will post 7.42 earnings per share for the current year.

Micron Technology Profile

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

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