Traynor Capital Management Inc. Has $686,000 Position in Micron Technology, Inc. (NASDAQ:MU)

Traynor Capital Management Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,026 shares of the semiconductor manufacturer’s stock after buying an additional 268 shares during the quarter. Traynor Capital Management Inc.’s holdings in Micron Technology were worth $686,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of Micron Technology by 1.0% in the second quarter. BlackRock Inc. now owns 73,370,753 shares of the semiconductor manufacturer’s stock valued at $2,831,377,000 after purchasing an additional 717,819 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Micron Technology by 56.8% in the second quarter. Price T Rowe Associates Inc. MD now owns 29,459,631 shares of the semiconductor manufacturer’s stock valued at $1,136,847,000 after acquiring an additional 10,672,909 shares during the last quarter. Northern Trust Corp boosted its holdings in Micron Technology by 8.0% in the second quarter. Northern Trust Corp now owns 13,355,786 shares of the semiconductor manufacturer’s stock valued at $515,401,000 after acquiring an additional 986,786 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Micron Technology by 154.2% in the second quarter. Renaissance Technologies LLC now owns 9,735,914 shares of the semiconductor manufacturer’s stock valued at $375,709,000 after acquiring an additional 5,905,239 shares during the last quarter. Finally, Viking Global Investors LP boosted its holdings in Micron Technology by 180.9% in the second quarter. Viking Global Investors LP now owns 6,431,167 shares of the semiconductor manufacturer’s stock valued at $248,179,000 after acquiring an additional 4,141,275 shares during the last quarter. 77.51% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on MU shares. Cowen lifted their target price on Micron Technology from $38.00 to $46.00 and gave the company a “market perform” rating in a report on Wednesday, September 25th. Deutsche Bank set a $55.00 target price on Micron Technology and gave the company a “buy” rating in a report on Monday, September 23rd. Mizuho reiterated a “buy” rating and issued a $53.00 target price (up previously from $50.00) on shares of Micron Technology in a report on Monday, November 11th. Longbow Research reiterated a “buy” rating on shares of Micron Technology in a report on Tuesday, October 15th. Finally, Nomura lifted their target price on Micron Technology from $32.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, September 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Micron Technology has an average rating of “Buy” and an average target price of $53.46.

Shares of Micron Technology stock opened at $48.16 on Friday. The firm has a market cap of $51.72 billion, a P/E ratio of 7.83 and a beta of 2.00. The business has a 50-day moving average price of $46.58 and a 200 day moving average price of $42.75. Micron Technology, Inc. has a fifty-two week low of $28.39 and a fifty-two week high of $51.39. The company has a quick ratio of 1.78, a current ratio of 2.58 and a debt-to-equity ratio of 0.12.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, September 26th. The semiconductor manufacturer reported $0.56 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.13. The company had revenue of $4.87 billion during the quarter, compared to analyst estimates of $4.56 billion. Micron Technology had a return on equity of 19.81% and a net margin of 26.97%. The business’s revenue was down 42.3% compared to the same quarter last year. During the same period in the prior year, the company earned $3.53 earnings per share. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 2.16 earnings per share for the current year.

In related news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $50.00, for a total value of $1,000,000.00. Following the completion of the transaction, the executive vice president now directly owns 110,236 shares of the company’s stock, valued at approximately $5,511,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP April S. Arnzen sold 2,477 shares of the stock in a transaction that occurred on Wednesday, September 25th. The stock was sold at an average price of $48.47, for a total value of $120,060.19. Following the completion of the transaction, the senior vice president now directly owns 72,431 shares of the company’s stock, valued at $3,510,730.57. The disclosure for this sale can be found here. Insiders have sold 54,527 shares of company stock valued at $2,536,490 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

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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