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

Townsquare Capital LLC grew its position in Micron Technology, Inc. (NASDAQ:MU) by 38.1% during the 3rd quarter, Holdings Channel.com reports. The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MU. Lazard Freres Gestion S.A.S. raised its position in shares of Micron Technology by 241.7% in the 3rd quarter. Lazard Freres Gestion S.A.S. now owns 41,000 shares of the semiconductor manufacturer’s stock valued at $4,252,000 after purchasing an additional 29,000 shares during the last quarter. Brooklyn Investment Group increased its stake in Micron Technology by 3.3% during the 3rd quarter. Brooklyn Investment Group now owns 7,084 shares of the semiconductor manufacturer’s stock valued at $735,000 after purchasing an additional 228 shares in the last quarter. D.A. Davidson & CO. raised its holdings in shares of Micron Technology by 17.2% in the third quarter. D.A. Davidson & CO. now owns 68,844 shares of the semiconductor manufacturer’s stock worth $7,140,000 after buying an additional 10,080 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Micron Technology by 2.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,726,755 shares of the semiconductor manufacturer’s stock worth $179,113,000 after buying an additional 47,653 shares during the period. Finally, Mirabella Financial Services LLP grew its holdings in shares of Micron Technology by 1,807.0% during the third quarter. Mirabella Financial Services LLP now owns 90,906 shares of the semiconductor manufacturer’s stock valued at $9,428,000 after buying an additional 86,139 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on MU shares. UBS Group lowered their price target on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. Citigroup cut their price target on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. Susquehanna decreased their price objective on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating for the company in a research note on Thursday, September 26th. Finally, Wells Fargo & Company cut their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have assigned a buy rating to the stock. According to MarketBeat, Micron Technology presently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the sale, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $97.95 on Friday. The company has a market cap of $108.60 billion, a P/E ratio of 144.04 and a beta of 1.18. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company’s 50-day moving average price is $103.60 and its 200-day moving average price is $111.44. The company has a current ratio of 2.64, a quick ratio of 1.68 and a debt-to-equity ratio of 0.29.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. During the same period in the previous year, the firm posted ($1.21) EPS. The business’s revenue for the quarter was up 93.3% compared to the same quarter last year. On average, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 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.