Natixis Buys 58,189 Shares of Micron Technology, Inc. (NASDAQ:MU)

Natixis boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 80.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 130,547 shares of the semiconductor manufacturer’s stock after acquiring an additional 58,189 shares during the quarter. Natixis’ holdings in Micron Technology were worth $5,038,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Raymond James Trust N.A. increased its position in shares of Micron Technology by 2.2% during the second quarter. Raymond James Trust N.A. now owns 10,868 shares of the semiconductor manufacturer’s stock worth $419,000 after purchasing an additional 238 shares in the last quarter. Berman Capital Advisors LLC increased its position in shares of Micron Technology by 56.7% during the first quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock worth $29,000 after purchasing an additional 255 shares in the last quarter. Parallel Advisors LLC increased its position in shares of Micron Technology by 6.8% in the 2nd quarter. Parallel Advisors LLC now owns 4,575 shares of the semiconductor manufacturer’s stock valued at $177,000 after acquiring an additional 293 shares during the period. Grove Bank & Trust increased its position in shares of Micron Technology by 1.7% in the 2nd quarter. Grove Bank & Trust now owns 18,213 shares of the semiconductor manufacturer’s stock valued at $703,000 after acquiring an additional 296 shares during the period. Finally, Founders Capital Management increased its position in shares of Micron Technology by 12.0% in the 2nd quarter. Founders Capital Management now owns 2,800 shares of the semiconductor manufacturer’s stock valued at $108,000 after acquiring an additional 300 shares during the period. 76.73% of the stock is currently owned by institutional investors.

Shares of NASDAQ MU traded up $0.46 during midday trading on Friday, reaching $50.90. 4,369,010 shares of the stock were exchanged, compared to its average volume of 18,772,324. The company has a 50 day simple moving average of $44.93 and a 200 day simple moving average of $40.76. The stock has a market capitalization of $54.52 billion, a P/E ratio of 4.31 and a beta of 1.95. 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 twelve month low of $28.39 and a twelve month high of $51.39.

Micron Technology (NASDAQ:MU) last posted its earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.30. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The firm had revenue of $4.79 billion during the quarter, compared to the consensus estimate of $4.70 billion. During the same quarter last year, the firm earned $3.15 EPS. The firm’s revenue for the quarter was down 38.6% on a year-over-year basis. On average, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

In other Micron Technology news, SVP April S. Arnzen sold 4,800 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $45.00, for a total value of $216,000.00. Following the completion of the transaction, the senior vice president now owns 79,392 shares of the company’s stock, valued at approximately $3,572,640. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $45.00, for a total transaction of $900,000.00. Following the completion of the transaction, the executive vice president now directly owns 130,236 shares of the company’s stock, valued at approximately $5,860,620. The disclosure for this sale can be found here. Insiders sold a total of 79,735 shares of company stock valued at $3,736,994 in the last three months. 0.20% of the stock is currently owned by corporate insiders.

MU has been the topic of several research reports. Cfra downgraded Micron Technology to a “sell” rating and set a $32.00 target price on the stock. in a research report on Wednesday, May 22nd. Piper Jaffray Companies cut their target price on Micron Technology from $40.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. BidaskClub raised Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, September 5th. Rosenblatt Securities reissued a “buy” rating and issued a $60.00 target price on shares of Micron Technology in a research report on Friday, May 24th. Finally, Wells Fargo & Co upped their target price on Micron Technology from $50.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $50.19.

About Micron Technology

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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