Columbus Circle Investors Acquires Shares of 449,547 Micron Technology, Inc. (NASDAQ:MU)

Columbus Circle Investors acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the second quarter, Holdings Channel reports. The fund acquired 449,547 shares of the semiconductor manufacturer’s stock, valued at approximately $17,348,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Gemmer Asset Management LLC lifted its holdings in shares of Micron Technology by 49.9% during the 1st quarter. Gemmer Asset Management LLC now owns 706 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 235 shares during the period. Valeo Financial Advisors LLC lifted its holdings in shares of Micron Technology by 73.3% during the 1st quarter. Valeo Financial Advisors LLC now owns 709 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 300 shares during the period. Berman Capital Advisors LLC lifted its holdings in shares of Micron Technology by 56.7% during the 1st quarter. Berman Capital Advisors LLC now owns 705 shares of the semiconductor manufacturer’s stock worth $29,000 after acquiring an additional 255 shares during the period. Citizens Financial Group Inc RI bought a new stake in shares of Micron Technology during the 1st quarter worth approximately $37,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Micron Technology during the 1st quarter worth approximately $38,000. 77.42% of the stock is owned by hedge funds and other institutional investors.

MU stock opened at $42.24 on Friday. The company has a 50 day simple moving average of $43.11 and a 200 day simple moving average of $40.07. The stock has a market cap of $48.75 billion, a price-to-earnings ratio of 3.57 and a beta of 1.96. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year 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.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.30. The business had revenue of $4.79 billion during the quarter, compared to analysts’ expectations of $4.70 billion. Micron Technology had a net margin of 37.35% and a return on equity of 30.94%. The firm’s quarterly revenue was down 38.6% compared to the same quarter last year. During the same period in the prior year, the company earned $3.15 EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 6.06 EPS for the current fiscal year.

In other Micron Technology news, SVP April S. Arnzen sold 4,800 shares of the company’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 directly owns 79,392 shares in the company, valued at approximately $3,572,640. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company’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 owns 130,236 shares of the company’s stock, valued at $5,860,620. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,244 shares of company stock valued at $2,624,899. Corporate insiders own 0.20% of the company’s stock.

A number of brokerages have recently weighed in on MU. Goldman Sachs Group downgraded shares of Micron Technology from a “buy” rating to a “neutral” rating in a report on Monday, July 22nd. BidaskClub raised shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Thursday, July 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $60.00 price target on shares of Micron Technology in a report on Friday, May 24th. Stifel Nicolaus cut their price target on shares of Micron Technology from $60.00 to $54.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, KeyCorp cut their price target on shares of Micron Technology from $48.00 to $45.00 and set an “overweight” rating for the company 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 company’s stock. The stock has a consensus rating of “Hold” and a consensus 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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