Townsquare Capital LLC Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

Townsquare Capital LLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 38.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 20,811 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,737 shares during the period. Townsquare Capital LLC’s holdings in Micron Technology were worth $2,158,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MU. Primecap Management Co. CA raised its position in shares of Micron Technology by 0.6% during the 3rd quarter. Primecap Management Co. CA now owns 37,631,860 shares of the semiconductor manufacturer’s stock valued at $3,902,800,000 after purchasing an additional 206,499 shares during the period. Van ECK Associates Corp raised its holdings in Micron Technology by 30.6% during the third quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after acquiring an additional 2,477,985 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Micron Technology by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,721,126 shares of the semiconductor manufacturer’s stock valued at $697,048,000 after acquiring an additional 65,591 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Micron Technology by 7.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,276,245 shares of the semiconductor manufacturer’s stock worth $443,489,000 after acquiring an additional 295,452 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Micron Technology by 0.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,980,793 shares of the semiconductor manufacturer’s stock worth $523,594,000 after purchasing an additional 17,288 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on MU shares. Bank of America upped their price target on Micron Technology from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. UBS Group dropped their target price on shares of Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price target for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Needham & Company LLC restated a “buy” rating and set a $140.00 price objective on shares of Micron Technology in a research report on Thursday, September 26th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a report on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Micron Technology Stock Performance

MU stock opened at $97.95 on Friday. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The firm has a market cap of $108.60 billion, a price-to-earnings ratio of 144.04 and a beta of 1.18. The business’s fifty day simple moving average is $103.60 and its two-hundred day simple moving average is $111.44. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue for the quarter was up 93.3% on a year-over-year basis. During the same quarter last year, the business posted ($1.21) EPS. Analysts predict that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.47%. Micron Technology’s payout ratio is currently 67.65%.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.