November 10, 2019 at 5:32 pm

Oppenheimer Asset Management Inc. Has $708,000 Stock Position in Micron Technology, Inc. (NASDAQ:MU)

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Oppenheimer Asset Management Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 51.1% during the 3rd quarter, Holdings Channel reports. The firm owned 16,516 shares of the semiconductor manufacturer’s stock after buying an additional 5,588 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Micron Technology were worth $708,000 as of its most recent SEC filing.

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Other large investors also recently bought and sold shares of the company. Financial Advisors Network Inc. increased its position in shares of Micron Technology by 5.7% during the 2nd quarter. Financial Advisors Network Inc. now owns 31,161 shares of the semiconductor manufacturer’s stock worth $1,301,000 after purchasing an additional 1,673 shares during the last quarter. Meritage Portfolio Management acquired a new position in shares of Micron Technology during the 3rd quarter worth approximately $15,961,000. Atalanta Sosnoff Capital LLC acquired a new position in shares of Micron Technology during the 2nd quarter worth approximately $15,766,000. Lido Advisors LLC increased its position in shares of Micron Technology by 1.2% during the 2nd quarter. Lido Advisors LLC now owns 25,822 shares of the semiconductor manufacturer’s stock worth $996,000 after purchasing an additional 317 shares during the last quarter. Finally, Balter Liquid Alternatives LLC increased its position in shares of Micron Technology by 12.6% during the 2nd quarter. Balter Liquid Alternatives LLC now owns 23,637 shares of the semiconductor manufacturer’s stock worth $912,000 after purchasing an additional 2,652 shares during the last quarter. 76.78% of the stock is currently owned by hedge funds and other institutional investors.

In other Micron Technology news, Director Patrick J. Byrne sold 23,264 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $43.27, for a total value of $1,006,633.28. Following the completion of the transaction, the director now owns 97,739 shares of the company’s stock, valued at approximately $4,229,166.53. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP April S. Arnzen sold 4,252 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $47.22, for a total value of $200,779.44. Following the completion of the transaction, the senior vice president now directly owns 101,439 shares of the company’s stock, valued at approximately $4,789,949.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,484 shares of company stock valued at $2,439,568. Insiders own 0.20% of the company’s stock.

MU opened at $47.19 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.78. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $51.39. The company has a market capitalization of $53.89 billion, a PE ratio of 7.67 and a beta of 2.00. The business has a fifty day simple moving average of $46.08 and a 200 day simple moving average of $42.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Thursday, September 26th. The semiconductor manufacturer reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.13. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The business had revenue of $4.87 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the prior year, the company earned $3.53 EPS. Micron Technology’s revenue for the quarter was down 42.3% on a year-over-year basis. Equities analysts anticipate that Micron Technology, Inc. will post 2.19 earnings per share for the current fiscal year.

Several research analysts have weighed in on the company. Credit Suisse Group set a $90.00 price target on Micron Technology and gave the stock a “buy” rating in a research report on Monday, September 23rd. Susquehanna Bancshares set a $45.00 price target on Micron Technology and gave the stock a “hold” rating in a research report on Friday, September 27th. Morgan Stanley reaffirmed a “hold” rating and set a $48.00 price target on shares of Micron Technology in a research report on Monday, September 23rd. Longbow Research reissued a “buy” rating on shares of Micron Technology in a report on Tuesday, October 15th. Finally, Bank of America set a $60.00 target price on Micron Technology and gave the stock a “buy” rating in a report on Thursday, September 26th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Micron Technology currently has a consensus rating of “Buy” and an average price target of $53.36.

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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