Cadence Capital Management LLC Boosts Stake in Micron Technology, Inc. (MU)

Cadence Capital Management LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 4.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,592 shares of the semiconductor manufacturer’s stock after buying an additional 1,360 shares during the period. Cadence Capital Management LLC’s holdings in Micron Technology were worth $736,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its stake in shares of Micron Technology by 7.6% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 6,116 shares of the semiconductor manufacturer’s stock valued at $109,000 after buying an additional 433 shares during the period. BKS Advisors LLC acquired a new stake in shares of Micron Technology during the third quarter valued at about $125,000. Evercore Wealth Management LLC raised its stake in shares of Micron Technology by 2.9% in the second quarter. Evercore Wealth Management LLC now owns 10,236 shares of the semiconductor manufacturer’s stock valued at $141,000 after buying an additional 287 shares during the period. Penserra Capital Management LLC raised its stake in shares of Micron Technology by 99.8% in the third quarter. Penserra Capital Management LLC now owns 8,002 shares of the semiconductor manufacturer’s stock valued at $142,000 after buying an additional 3,996 shares during the period. Finally, Washington Trust Bank raised its stake in shares of Micron Technology by 3.4% in the third quarter. Washington Trust Bank now owns 8,744 shares of the semiconductor manufacturer’s stock valued at $155,000 after buying an additional 289 shares during the period. 81.43% of the stock is currently owned by institutional investors and hedge funds.

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

Micron Technology, Inc. (NASDAQ:MU) opened at 23.12 on Wednesday. The firm has a 50-day moving average price of $23.12 and a 200-day moving average price of $18.92. The company’s market cap is $25.50 billion. Micron Technology, Inc. has a 52-week low of $9.35 and a 52-week high of $25.31.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 21st. The semiconductor manufacturer reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.04. Micron Technology had a positive return on equity of 0.81% and a negative net margin of 2.32%. The firm had revenue of $3.97 billion for the quarter. During the same period in the prior year, the company earned $0.24 EPS. The firm’s quarterly revenue was up 18.5% on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post $2.47 EPS for the current year.

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MU has been the topic of several analyst reports. Robert W. Baird reaffirmed an “outperform” rating and issued a $22.00 target price on shares of Micron Technology in a report on Monday, October 24th. Mizuho reiterated an “outperform” rating and set a $22.00 price target on shares of Micron Technology in a research report on Tuesday, November 1st. Nomura reiterated a “buy” rating and set a $23.00 price target on shares of Micron Technology in a research report on Friday, November 18th. Deutsche Bank AG reiterated a “buy” rating and set a $20.00 price target (down previously from $24.00) on shares of Micron Technology in a research report on Monday, November 28th. Finally, Needham & Company LLC reiterated an “underperform” rating and set a $20.44 price target on shares of Micron Technology in a research report on Wednesday, November 30th. Six research analysts have rated the stock with a hold rating, twenty-eight have given a buy rating and two have assigned a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $22.95.

In related news, VP Scott J. Deboer sold 48,780 shares of the stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $23.00, for a total transaction of $1,121,940.00. Following the sale, the vice president now owns 238,982 shares of the company’s stock, valued at approximately $5,496,586. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven L. Thorsen, Jr. sold 126,000 shares of the stock in a transaction dated Thursday, February 9th. The stock was sold at an average price of $24.64, for a total value of $3,104,640.00. Following the sale, the vice president now directly owns 421,690 shares in the company, valued at approximately $10,390,441.60. The disclosure for this sale can be found here. Insiders have sold a total of 265,360 shares of company stock worth $6,227,492 in the last ninety days. Insiders own 0.69% of the company’s stock.

About Micron Technology

5 Day Chart for NASDAQ:MU

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