Micron Technology, Inc. (MU) Holdings Raised by Toronto Dominion Bank

Toronto Dominion Bank boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 19.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 745,213 shares of the semiconductor manufacturer’s stock after purchasing an additional 122,109 shares during the period. Toronto Dominion Bank owned about 0.06% of Micron Technology worth $39,071,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Massmutual Trust Co. FSB ADV increased its holdings in shares of Micron Technology by 5.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 19,634 shares of the semiconductor manufacturer’s stock worth $1,024,000 after buying an additional 931 shares in the last quarter. Alpha Cubed Investments LLC increased its holdings in shares of Micron Technology by 9.9% during the second quarter. Alpha Cubed Investments LLC now owns 10,501 shares of the semiconductor manufacturer’s stock worth $551,000 after buying an additional 950 shares in the last quarter. Brasada Capital Management LP increased its holdings in shares of Micron Technology by 100.0% during the first quarter. Brasada Capital Management LP now owns 2,000 shares of the semiconductor manufacturer’s stock worth $104,000 after buying an additional 1,000 shares in the last quarter. Arete Wealth Advisors LLC increased its holdings in shares of Micron Technology by 5.0% during the first quarter. Arete Wealth Advisors LLC now owns 21,652 shares of the semiconductor manufacturer’s stock worth $1,129,000 after buying an additional 1,036 shares in the last quarter. Finally, Brighton Jones LLC increased its holdings in shares of Micron Technology by 18.7% during the second quarter. Brighton Jones LLC now owns 6,602 shares of the semiconductor manufacturer’s stock worth $346,000 after buying an additional 1,038 shares in the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.

NASDAQ MU opened at $50.62 on Wednesday. The firm has a market capitalization of $59.58 billion, a P/E ratio of 11.48, a P/E/G ratio of 0.54 and a beta of 1.61. Micron Technology, Inc. has a twelve month low of $29.14 and a twelve month high of $64.66. The company has a debt-to-equity ratio of 0.20, a current ratio of 2.63 and a quick ratio of 2.06.



Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, June 20th. The semiconductor manufacturer reported $3.15 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.13 by $0.02. The business had revenue of $7.80 billion during the quarter, compared to the consensus estimate of $7.76 billion. Micron Technology had a return on equity of 51.12% and a net margin of 43.35%. Micron Technology’s quarterly revenue was up 40.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.62 earnings per share. sell-side analysts anticipate that Micron Technology, Inc. will post 11.57 EPS for the current fiscal year.

Micron Technology announced that its Board of Directors has approved a share buyback plan on Monday, May 21st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the semiconductor manufacturer to buy up to 16.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Several research analysts have recently issued reports on the stock. Robert W. Baird upped their price target on shares of Micron Technology to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, May 30th. Wells Fargo & Co reiterated an “outperform” rating and set a $63.00 price target (down from $70.00) on shares of Micron Technology in a report on Wednesday. They noted that the move was a valuation call. MKM Partners upped their price target on shares of Micron Technology to $77.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $82.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, June 21st. Finally, ValuEngine downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $71.83.

In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 40,000 shares of the company’s stock in a transaction on Friday, July 20th. The shares were sold at an average price of $55.09, for a total transaction of $2,203,600.00. Following the sale, the senior vice president now owns 126,990 shares of the company’s stock, valued at $6,995,879.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert E. Switz sold 75,000 shares of the company’s stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $53.34, for a total transaction of $4,000,500.00. Following the sale, the director now directly owns 120,257 shares in the company, valued at approximately $6,414,508.38. The disclosure for this sale can be found here. Insiders sold 164,795 shares of company stock valued at $9,141,390 over the last 90 days. 0.53% of the stock is currently owned by company insiders.

About Micron Technology

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

See Also: Google Finance Portfolio Workaround

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply