TRUE Private Wealth Advisors Purchases Shares of 3,100 Micron Technology, Inc. (NASDAQ:MU)

TRUE Private Wealth Advisors purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the second quarter, HoldingsChannel.com reports. The institutional investor purchased 3,100 shares of the semiconductor manufacturer’s stock, valued at approximately $119,000.

Other hedge funds also recently bought and sold shares of the company. Gemmer Asset Management LLC lifted its position in shares of Micron Technology by 49.9% in the first quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 235 shares during the last quarter. Valeo Financial Advisors LLC lifted its position in shares of Micron Technology by 73.3% in the first quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 300 shares during the last quarter. 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 buying an additional 255 shares during the last quarter. Citizens Financial Group Inc RI acquired a new stake in shares of Micron Technology in the first quarter valued at approximately $37,000. Finally, Cullen Frost Bankers Inc. acquired a new stake in shares of Micron Technology in the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 77.42% of the company’s stock.

In other news, EVP Scott J. Deboer sold 20,000 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $45.00, for a total value of $900,000.00. Following the transaction, the executive vice president now directly owns 130,236 shares of the company’s stock, valued at approximately $5,860,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 8,475 shares of the business’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $48.00, for a total value of $406,800.00. Following the completion of the transaction, the executive vice president now directly owns 138,711 shares in the company, valued at $6,658,128. The disclosure for this sale can be found here. Insiders sold a total of 57,244 shares of company stock worth $2,624,899 over the last three months. 0.20% of the stock is owned by company insiders.

MU stock traded up $0.98 during midday trading on Friday, reaching $43.22. 704,130 shares of the stock were exchanged, compared to its average volume of 29,282,950. The stock has a market capitalization of $47.93 billion, a PE ratio of 3.65 and a beta of 1.96. Micron Technology, Inc. has a 52 week low of $28.39 and a 52 week high of $53.68. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.79 and a quick ratio of 1.88. The company has a fifty day moving average price of $43.11 and a 200 day moving average price of $40.07.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.30. The business had revenue of $4.79 billion for the quarter, compared to analyst estimates of $4.70 billion. Micron Technology had a return on equity of 30.94% and a net margin of 37.35%. Micron Technology’s quarterly revenue was down 38.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.15 EPS. As a group, analysts anticipate that Micron Technology, Inc. will post 6.06 earnings per share for the current fiscal year.

MU has been the subject of a number of recent analyst reports. Stifel Nicolaus cut their price objective on Micron Technology from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, May 31st. BidaskClub raised Micron Technology from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Bank of America lifted their price objective on Micron Technology from $45.00 to $60.00 and gave the company an “average” rating in a report on Thursday, July 18th. Morgan Stanley raised Micron Technology from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $31.00 to $48.00 in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $50.00 price objective on shares of Micron Technology in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $48.27.

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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