Micron Technology, Inc. (NASDAQ:MU) Position Boosted by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 320,221 shares of the semiconductor manufacturer’s stock after buying an additional 442 shares during the period. Gulf International Bank UK Ltd’s holdings in Micron Technology were worth $9,561,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Guardian Life Insurance Co. of America increased its position in Micron Technology by 0.3% in the first quarter. Guardian Life Insurance Co. of America now owns 4,004 shares of the semiconductor manufacturer’s stock valued at $116,000 after buying an additional 13 shares during the last quarter. First Personal Financial Services increased its position in Micron Technology by 96.8% in the first quarter. First Personal Financial Services now owns 4,234 shares of the semiconductor manufacturer’s stock valued at $122,000 after buying an additional 2,083 shares in the last quarter. Washington Trust Bank increased its position in Micron Technology by 1.5% in the first quarter. Washington Trust Bank now owns 4,355 shares of the semiconductor manufacturer’s stock valued at $126,000 after buying an additional 63 shares in the last quarter. Coconut Grove Bank increased its position in Micron Technology by 1,422.5% in the first quarter. Coconut Grove Bank now owns 5,405 shares of the semiconductor manufacturer’s stock valued at $156,000 after buying an additional 5,050 shares in the last quarter. Finally, D. Scott Neal Inc. acquired a new position in Micron Technology during the second quarter valued at $190,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Micron Technology, Inc. (NASDAQ MU) traded up 0.03% during midday trading on Friday, reaching $32.01. The company had a trading volume of 21,146,582 shares. The company has a market capitalization of $35.53 billion, a PE ratio of 14.06 and a beta of 1.78. The stock has a 50-day moving average price of $31.24 and a 200 day moving average price of $27.26. Micron Technology, Inc. has a 12-month low of $13.02 and a 12-month high of $32.96.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Thursday, June 29th. The semiconductor manufacturer reported $1.62 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.25. The firm had revenue of $5.57 billion during the quarter, compared to analyst estimates of $5.41 billion. Micron Technology had a return on equity of 19.05% and a net margin of 14.66%. The company’s revenue for the quarter was up 92.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. Equities analysts forecast that Micron Technology, Inc. will post $4.71 EPS for the current year.

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Several equities analysts have recently weighed in on MU shares. Deutsche Bank AG raised their price target on shares of Micron Technology from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, March 24th. Instinet lifted their price target on shares of Micron Technology to $40.00 in a research report on Friday, March 24th. Robert W. Baird lifted their price target on shares of Micron Technology from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Friday, March 24th. Mizuho lifted their price objective on shares of Micron Technology from $30.00 to $35.00 and gave the company a “buy” rating in a report on Friday, March 24th. Finally, Goldman Sachs Group, Inc. (The) lifted their price target on shares of Micron Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, March 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $35.65.

In other Micron Technology news, VP April S. Arnzen sold 1,000 shares of the stock in a transaction on Monday, May 1st. The stock was sold at an average price of $27.85, for a total transaction of $27,850.00. Following the sale, the vice president now owns 53,542 shares in the company, valued at $1,491,144.70. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Scott J. Deboer sold 10,000 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $32.00, for a total value of $320,000.00. Following the sale, the vice president now owns 150,232 shares in the company, valued at approximately $4,807,424. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 70,492 shares of company stock valued at $2,109,749. 0.69% of the stock is currently owned by corporate insiders.

Micron Technology Company Profile

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).

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

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