Taylor Hoffman Wealth Management Has $439,000 Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Taylor Hoffman Wealth Management raised its position in Micron Technology, Inc. (NASDAQ:MU) by 165.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,241 shares of the semiconductor manufacturer’s stock after buying an additional 6,390 shares during the quarter. Taylor Hoffman Wealth Management’s holdings in Micron Technology were worth $439,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brasada Capital Management LP grew its holdings in Micron Technology by 13.6% in the 3rd quarter. Brasada Capital Management LP now owns 12,500 shares of the semiconductor manufacturer’s stock valued at $536,000 after buying an additional 1,500 shares in the last quarter. Eagle Asset Management Inc. lifted its position in shares of Micron Technology by 524.8% during the 3rd quarter. Eagle Asset Management Inc. now owns 75,049 shares of the semiconductor manufacturer’s stock valued at $3,215,000 after acquiring an additional 63,038 shares during the period. Essex Financial Services Inc. bought a new stake in shares of Micron Technology during the 3rd quarter valued at $276,000. Managed Asset Portfolios LLC lifted its position in shares of Micron Technology by 4.2% during the 3rd quarter. Managed Asset Portfolios LLC now owns 398,690 shares of the semiconductor manufacturer’s stock valued at $17,083,000 after acquiring an additional 16,035 shares during the period. Finally, Symmetry Partners LLC bought a new stake in shares of Micron Technology during the 3rd quarter valued at $248,000. 76.78% of the stock is currently owned by hedge funds and other institutional investors.

MU has been the subject of a number of recent analyst reports. Cowen upped their target price on Micron Technology from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, September 25th. Bank of America set a $60.00 target price on Micron Technology and gave the company a “buy” rating in a research report on Thursday, September 26th. Morgan Stanley reiterated a “hold” rating and set a $48.00 target price on shares of Micron Technology in a research report on Monday, September 23rd. Needham & Company LLC upped their target price on Micron Technology to $60.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Finally, BidaskClub upgraded Micron Technology from a “hold” rating to a “buy” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $53.36.

Shares of MU stock traded down $1.21 on Friday, hitting $47.19. 18,518,800 shares of the company’s stock were exchanged, compared to its average volume of 27,489,555. The company has a 50 day moving average of $46.08 and a 200 day moving average of $42.28. Micron Technology, Inc. has a 12 month low of $28.39 and a 12 month high of $51.39. The stock has a market cap of $53.89 billion, a P/E ratio of 7.67 and a beta of 2.00. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.58 and a quick ratio of 1.78.

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Micron Technology (NASDAQ:MU) last released its earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 EPS 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 analysts’ expectations of $4.56 billion. During the same quarter last year, the firm posted $3.53 earnings per share. The firm’s revenue was down 42.3% on a year-over-year basis. Sell-side analysts predict that Micron Technology, Inc. will post 2.19 EPS for the current fiscal year.

In other Micron Technology news, Director Patrick J. Byrne sold 23,264 shares of the stock in a transaction that occurred on 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 transaction, the director now owns 97,739 shares in the company, valued at $4,229,166.53. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP April S. Arnzen sold 4,252 shares of the stock in a transaction that occurred on 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 owns 101,439 shares in the company, valued at approximately $4,789,949.58. The disclosure for this sale can be found here. Insiders have sold 52,484 shares of company stock valued at $2,439,568 in the last ninety days. 0.20% of the stock is currently owned by insiders.

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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