Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Toroso Investments LLC

Toroso Investments LLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 118.7% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 16,374 shares of the semiconductor manufacturer’s stock after acquiring an additional 8,888 shares during the quarter. Toroso Investments LLC’s holdings in Micron Technology were worth $1,391,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of MU. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 88,446,158 shares of the semiconductor manufacturer’s stock worth $7,516,154,000 after purchasing an additional 426,552 shares during the last quarter. Sanders Capital LLC boosted its holdings in shares of Micron Technology by 9.8% during the 2nd quarter. Sanders Capital LLC now owns 36,899,299 shares of the semiconductor manufacturer’s stock worth $3,402,560,000 after purchasing an additional 3,283,630 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Micron Technology by 3.5% during the 2nd quarter. Geode Capital Management LLC now owns 18,596,772 shares of the semiconductor manufacturer’s stock worth $1,575,702,000 after purchasing an additional 635,287 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Micron Technology by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 13,148,233 shares of the semiconductor manufacturer’s stock worth $1,117,338,000 after purchasing an additional 44,216 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its holdings in shares of Micron Technology by 14.3% during the 1st quarter. UBS Asset Management Americas Inc. now owns 10,781,447 shares of the semiconductor manufacturer’s stock worth $951,031,000 after purchasing an additional 1,348,544 shares during the last quarter. Institutional investors own 78.34% of the company’s stock.

A number of analysts have issued reports on MU shares. Mizuho cut their target price on Micron Technology from $107.00 to $97.00 and set a “buy” rating on the stock in a research report on Friday, September 24th. Citigroup lowered their target price on shares of Micron Technology from $135.00 to $120.00 and set a “buy” rating for the company in a research note on Monday, September 27th. Evercore ISI decreased their price objective on shares of Micron Technology from $135.00 to $100.00 and set an “outperform” rating for the company in a research note on Friday, August 13th. UBS Group decreased their price objective on shares of Micron Technology from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, September 29th. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on shares of Micron Technology from $95.00 to $90.00 and set a “buy” rating for the company in a research note on Wednesday, September 29th. Six analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $107.60.

In other news, SVP Joel L. Poppen sold 4,984 shares of Micron Technology stock in a transaction dated Monday, October 11th. The stock was sold at an average price of $69.85, for a total transaction of $348,132.40. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Zinsner sold 8,050 shares of the business’s stock in a transaction dated Monday, August 16th. The shares were sold at an average price of $70.59, for a total value of $568,249.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,302 shares of company stock worth $2,274,482. 0.30% of the stock is currently owned by insiders.

Shares of NASDAQ:MU opened at $66.38 on Thursday. The company has a market cap of $74.73 billion, a P/E ratio of 18.29, a P/E/G ratio of 0.49 and a beta of 1.27. The company has a quick ratio of 2.57, a current ratio of 3.40 and a debt-to-equity ratio of 0.15. Micron Technology, Inc. has a 52 week low of $49.30 and a 52 week high of $96.96. The business has a fifty day simple moving average of $72.81 and a 200-day simple moving average of $79.30.

Micron Technology (NASDAQ:MU) last issued its earnings results on Monday, September 27th. The semiconductor manufacturer reported $2.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.33 by $0.09. Micron Technology had a return on equity of 12.60% and a net margin of 16.20%. The firm had revenue of $8.27 billion for the quarter, compared to analysts’ expectations of $8.21 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s revenue for the quarter was up 36.6% compared to the same quarter last year. Sell-side analysts expect that Micron Technology, Inc. will post 5.65 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, October 18th. Investors of record on Friday, October 1st will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend is Thursday, September 30th. Micron Technology’s payout ratio is currently 15.69%.

Micron Technology Company 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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