Tocqueville Asset Management L.P. Boosts Stake in Micron Technology, Inc. (MU)

Tocqueville Asset Management L.P. increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 17.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 222,115 shares of the semiconductor manufacturer’s stock after buying an additional 33,634 shares during the period. Tocqueville Asset Management L.P.’s holdings in Micron Technology were worth $10,046,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MU. Dimensional Fund Advisors LP boosted its stake in Micron Technology by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,543,491 shares of the semiconductor manufacturer’s stock valued at $710,326,000 after purchasing an additional 40,694 shares during the period. Janus Henderson Group PLC boosted its stake in Micron Technology by 15.8% during the 3rd quarter. Janus Henderson Group PLC now owns 9,500,254 shares of the semiconductor manufacturer’s stock valued at $429,725,000 after purchasing an additional 1,294,408 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Micron Technology by 4.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 5,113,462 shares of the semiconductor manufacturer’s stock valued at $268,150,000 after purchasing an additional 238,829 shares during the period. Parnassus Investments CA boosted its stake in Micron Technology by 40.0% during the 2nd quarter. Parnassus Investments CA now owns 4,900,000 shares of the semiconductor manufacturer’s stock valued at $256,956,000 after purchasing an additional 1,400,000 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Micron Technology by 3.0% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 4,311,584 shares of the semiconductor manufacturer’s stock valued at $195,013,000 after purchasing an additional 125,926 shares during the period. 74.46% of the stock is owned by institutional investors and hedge funds.

A number of research firms have issued reports on MU. Macquarie set a $70.00 target price on shares of Micron Technology and gave the company a “buy” rating in a research note on Friday, September 21st. Barclays reduced their target price on shares of Micron Technology to $60.00 and set an “overweight” rating for the company in a research note on Friday, September 21st. Wells Fargo & Co reduced their target price on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Needham & Company LLC reduced their target price on shares of Micron Technology from $100.00 to $80.00 and set a “strong-buy” rating for the company in a research note on Monday, September 24th. Finally, ValuEngine lowered shares of Micron Technology from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 20th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $64.82.

MU stock opened at $36.85 on Friday. The company has a quick ratio of 2.16, a current ratio of 2.79 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $41.83 billion, a price-to-earnings ratio of 3.12, a price-to-earnings-growth ratio of 0.59 and a beta of 1.63. Micron Technology, Inc. has a 12 month low of $33.82 and a 12 month high of $64.66.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The business had revenue of $8.44 billion during the quarter, compared to the consensus estimate of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. Micron Technology’s quarterly revenue was up 37.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.02 EPS. On average, equities research analysts predict that Micron Technology, Inc. will post 9.86 EPS for the current fiscal year.

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Micron Technology Profile

Micron Technology, Inc manufactures and sells memory and storage solutions worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It offers memory and storage technologies, including DRAM, NAND, NOR Flash, and 3D XPoint memory under the Micron, Crucial, and Ballistix brands, as well as private labels.

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

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