2,350 Shares in Micron Technology, Inc. $MU Purchased by Golden State Equity Partners

Key Points

• Golden State Equity Partners has acquired a new position in Micron Technology, purchasing 2,350 shares valued at approximately $290,000 during the 2nd quarter.
• Micron Technology's stock has increased by 1.1% recently, with a market cap of $186.23 billion and significant institutional ownership at 80.84%.
• Micron reported $1.91 EPS for the latest quarter, exceeding analysts' expectations, and anticipates earnings of 6.08 EPS for the current year.

Golden State Equity Partners acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 2,350 shares of the semiconductor manufacturer's stock, valued at approximately $290,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brady Martz Wealth Solutions LLC purchased a new position in Micron Technology in the 2nd quarter valued at about $229,000. CRA Financial Services LLC purchased a new position in Micron Technology in the 2nd quarter valued at about $230,000. Armstrong Advisory Group Inc. lifted its holdings in Micron Technology by 241.6% in the 2nd quarter. Armstrong Advisory Group Inc. now owns 731 shares of the semiconductor manufacturer's stock valued at $90,000 after purchasing an additional 517 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in Micron Technology by 9.0% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 9,440 shares of the semiconductor manufacturer's stock valued at $1,163,000 after purchasing an additional 783 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in Micron Technology by 16.3% in the 2nd quarter. Park Avenue Securities LLC now owns 35,116 shares of the semiconductor manufacturer's stock valued at $4,328,000 after purchasing an additional 4,925 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 1.1%

MU opened at $166.41 on Wednesday. The firm has a 50 day moving average price of $125.66 and a 200 day moving average price of $106.69. The company has a market cap of $186.23 billion, a PE ratio of 29.98 and a beta of 1.47. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $170.45. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the prior year, the company earned $0.62 EPS. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Insider Buying and Selling at Micron Technology

In related news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 255,946 shares of company stock worth $32,306,159 in the last quarter. Company insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MU shares. Erste Group Bank started coverage on shares of Micron Technology in a report on Thursday, August 14th. They issued a "buy" rating on the stock. KGI Securities lowered shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. TD Cowen upped their price objective on shares of Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, September 19th. Wedbush upped their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. Finally, KeyCorp upped their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $165.54.

Micron Technology Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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