Jupiter Wealth Management LLC Makes New $325,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Jupiter Wealth Management LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 7,500 shares of the semiconductor manufacturer’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MU. Manning & Napier Group LLC bought a new stake in Micron Technology during the 2nd quarter worth approximately $68,838,000. TD Asset Management Inc. lifted its position in shares of Micron Technology by 375.9% in the 2nd quarter. TD Asset Management Inc. now owns 1,766,209 shares of the semiconductor manufacturer’s stock worth $68,158,000 after purchasing an additional 1,395,097 shares during the period. Los Angeles Capital Management & Equity Research Inc. lifted its position in shares of Micron Technology by 393.4% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,393,834 shares of the semiconductor manufacturer’s stock worth $57,607,000 after purchasing an additional 1,111,322 shares during the period. Sumitomo Mitsui Asset Management Company LTD lifted its position in shares of Micron Technology by 188.1% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 1,550,181 shares of the semiconductor manufacturer’s stock worth $64,068,000 after purchasing an additional 1,012,108 shares during the period. Finally, FIL Ltd lifted its position in shares of Micron Technology by 767,532.8% in the 1st quarter. FIL Ltd now owns 890,454 shares of the semiconductor manufacturer’s stock worth $36,802,000 after purchasing an additional 890,338 shares during the period. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Scott J. Deboer sold 20,000 shares of Micron Technology stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $45.00, for a total value 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 approximately $5,860,620. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP April S. Arnzen sold 4,800 shares of Micron Technology stock in a transaction dated Monday, July 15th. The stock was 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 of the company’s stock, valued at approximately $3,572,640. The disclosure for this sale can be found here. Insiders have sold 57,244 shares of company stock valued at $2,624,899 in the last three months. Insiders own 0.20% of the company’s stock.



MU has been the topic of a number of recent analyst reports. Deutsche Bank restated a “buy” rating and issued a $55.00 price target (up previously from $45.00) on shares of Micron Technology in a research report on Wednesday, July 24th. Wedbush started coverage on shares of Micron Technology in a research report on Wednesday, June 26th. They issued a “neutral” rating and a $30.00 price target on the stock. ValuEngine upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. BidaskClub upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th. Finally, Cfra downgraded shares of Micron Technology to a “sell” rating and set a $32.00 target price on the stock. in a research report on Wednesday, May 22nd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $48.27.

Shares of Micron Technology stock traded up $1.31 on Friday, reaching $43.55. The stock had a trading volume of 17,914,100 shares, compared to its average volume of 29,026,112. Micron Technology, Inc. has a 1 year low of $28.39 and a 1 year high of $53.68. The company has a market cap of $46.62 billion, a P/E ratio of 3.68 and a beta of 1.96. The company has a current ratio of 2.79, a quick ratio of 1.88 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $43.22 and its two-hundred day moving average is $40.09.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Tuesday, June 25th. The semiconductor manufacturer reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.30. The business had revenue of $4.79 billion for 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 revenue for the quarter was down 38.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.15 earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.06 EPS for the current fiscal year.

Micron Technology 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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