Cullinan Associates Inc. Takes Position in Micron Technology, Inc. (NASDAQ:MU)

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Cullinan Associates Inc. acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 4,490 shares of the semiconductor manufacturer’s stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Doyle Wealth Management acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $30,000. Whittier Trust Co. raised its holdings in shares of Micron Technology by 115.2% in the third quarter. Whittier Trust Co. now owns 794 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 425 shares during the last quarter. Griffin Asset Management Inc. acquired a new stake in shares of Micron Technology in the second quarter valued at approximately $39,000. North Star Investment Management Corp. acquired a new stake in shares of Micron Technology in the third quarter valued at approximately $44,000. Finally, Carroll Financial Associates Inc. grew its stake in shares of Micron Technology by 261.3% in the third quarter. Carroll Financial Associates Inc. now owns 1,250 shares of the semiconductor manufacturer’s stock valued at $53,000 after buying an additional 904 shares in the last quarter. Institutional investors own 77.28% of the company’s stock.

In other news, SVP Joel L. Poppen sold 20,000 shares of Micron Technology stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $56.97, for a total transaction of $1,139,400.00. Following the completion of the sale, the senior vice president now owns 301,395 shares of the company’s stock, valued at $17,170,473.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP April S. Arnzen sold 4,534 shares of Micron Technology stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.10, for a total value of $209,017.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 48,786 shares of company stock valued at $2,649,197. Company insiders own 0.18% of the company’s stock.

MU stock opened at $56.17 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 2.56 and a quick ratio of 1.78. The company has a fifty day moving average price of $52.50 and a two-hundred day moving average price of $47.11. Micron Technology, Inc. has a one year low of $32.14 and a one year high of $58.48. The stock has a market cap of $63.74 billion, a price-to-earnings ratio of 9.13 and a beta of 1.98.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $0.48 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.01. Micron Technology had a net margin of 17.01% and a return on equity of 11.36%. The firm had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the business posted $2.97 earnings per share. The company’s revenue for the quarter was down 35.0% compared to the same quarter last year. Research analysts anticipate that Micron Technology, Inc. will post 2.09 EPS for the current fiscal year.

Several equities analysts recently weighed in on MU shares. Cowen raised shares of Micron Technology from a “market perform” rating to an “outperform” rating and raised their target price for the company from $50.00 to $70.00 in a research note on Tuesday, January 7th. ValuEngine cut shares of Micron Technology from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 24th. Robert W. Baird raised their target price on shares of Micron Technology from $30.00 to $45.00 and gave the company an “underperform” rating in a research note on Thursday, December 19th. Citigroup raised their target price on shares of Micron Technology from $35.00 to $38.00 and gave the company a “sell” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC raised their target price on shares of Micron Technology from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Tuesday, December 17th. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company. Micron Technology presently has a consensus rating of “Buy” and a consensus target price of $61.24.

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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