Saturday, June 15, 2024

Skopos Labs Inc. Invests $597,000 in Micron Technology, Inc. (NASDAQ:MU)

Acquisition of Micron Technology, Inc. Shares by Skopos Labs Inc. – 4th Quarter Update

Skopos Labs Inc. recently made headlines by acquiring a new position in shares of Micron Technology, Inc. during the 4th quarter, as reported in their most recent 13F filing with the SEC. The fund added 6,998 shares of the semiconductor manufacturer’s stock to their portfolio, which is valued at approximately $597,000.

This acquisition comes on the heels of several other hedge funds and institutional investors buying and selling shares of Micron Technology. Sandy Spring Bank increased its position by 11.1%, HMS Capital Management LLC raised its position by 0.7%, JFS Wealth Advisors LLC raised its position by 11.0%, Huntington National Bank raised its position by 6.0%, and Allworth Financial LP raised its position by 3.0%. Overall, 80.84% of the stock is currently owned by hedge funds and other institutional investors.

In other news, there have been recent insider transactions at Micron Technology. EVP April S. Arnzen and EVP Sumit Sadana both sold significant amounts of shares, contributing to a total of 417,446 shares of company stock being sold by insiders in the last quarter.

On Wall Street, several brokerages have weighed in on MU, with most giving the stock a “buy” rating. The consensus rating among analysts is a “Moderate Buy” with an average target price of $126.92.

Shares of Micron Technology have been performing well, with the stock trading up 2.6% to reach $129.49 during midday trading on Friday. The company’s recent earnings results beat analysts’ expectations, with a positive EPS of $0.42 for the quarter.

Micron Technology also recently announced a quarterly dividend, further adding to the positive news surrounding the company.

Overall, Micron Technology continues to be a strong player in the semiconductor industry, with a focus on memory and storage products. The company’s growth and performance have been well-received by both investors and analysts, making it a stock to watch in the coming months.

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