Jackson Square Capital LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 114,230 shares of the semiconductor manufacturer's stock after selling 30,254 shares during the quarter. Micron Technology makes up about 2.9% of Jackson Square Capital LLC's holdings, making the stock its 8th largest position. Jackson Square Capital LLC's holdings in Micron Technology were worth $11,847,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in MU. Highline Wealth Partners LLC purchased a new position in shares of Micron Technology in the third quarter valued at $26,000. Hobbs Group Advisors LLC purchased a new position in shares of Micron Technology in the 2nd quarter valued at $28,000. Davis Capital Management acquired a new position in shares of Micron Technology during the third quarter worth about $30,000. Richard W. Paul & Associates LLC raised its stake in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer's stock valued at $34,000 after purchasing an additional 144 shares during the period. Finally, DT Investment Partners LLC lifted its holdings in Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer's stock worth $34,000 after buying an additional 235 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.
Analyst Ratings Changes
MU has been the subject of a number of research analyst reports. KeyCorp reduced their price target on shares of Micron Technology from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Tuesday, October 8th. Citigroup dropped their price target on shares of Micron Technology from $175.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, September 17th. Susquehanna dropped their price target on Micron Technology from $175.00 to $165.00 and set a "positive" rating on the stock in a research report on Thursday, September 26th. Raymond James upped their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Thursday, September 26th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $150.00 price objective on shares of Micron Technology in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $143.04.
View Our Latest Research Report on MU
Micron Technology Stock Up 1.4 %
Shares of MU traded up $1.58 during midday trading on Thursday, reaching $113.41. The stock had a trading volume of 13,533,874 shares, compared to its average volume of 21,795,264. Micron Technology, Inc. has a 1-year low of $71.71 and a 1-year high of $157.54. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The company has a market cap of $125.74 billion, a price-to-earnings ratio of 166.78 and a beta of 1.18. The company's fifty day simple moving average is $99.49 and its two-hundred day simple moving average is $113.09.
Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping the consensus estimate of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company's quarterly revenue was up 93.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.21) earnings per share. Equities research analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date was Monday, October 7th. Micron Technology's dividend payout ratio is presently 67.65%.
Insiders Place Their Bets
In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by company insiders.
About Micron Technology
(
Free Report)
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.
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