Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Jackson Square Capital LLC

Jackson Square Capital LLC decreased its position in Micron Technology, Inc. (NASDAQ:MU) by 20.9% in the third quarter, HoldingsChannel reports. The firm owned 114,230 shares of the semiconductor manufacturer’s stock after selling 30,254 shares during the period. Micron Technology accounts for about 2.9% of Jackson Square Capital LLC’s investment portfolio, making the stock its 8th biggest holding. Jackson Square Capital LLC’s holdings in Micron Technology were worth $11,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hobbs Group Advisors LLC acquired a new position in Micron Technology in the 2nd quarter worth approximately $28,000. Highline Wealth Partners LLC acquired a new stake in shares of Micron Technology during the 3rd quarter valued at $26,000. Richard W. Paul & Associates LLC boosted its stake in shares of Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the period. LRI Investments LLC boosted its stake in shares of Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares during the period. Finally, Davis Capital Management acquired a new stake in shares of Micron Technology during the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. China Renaissance assumed coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 target price for the company. KeyCorp reduced their price objective 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. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Morgan Stanley lifted their price objective on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. Finally, BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $140.00 to $67.00 in a report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $143.04.

Micron Technology Price Performance

Shares of MU stock opened at $111.83 on Thursday. The firm’s 50 day moving average price is $99.49 and its two-hundred day moving average price is $113.09. Micron Technology, Inc. has a 52-week low of $71.71 and a 52-week high of $157.54. The stock has a market cap of $123.99 billion, a PE ratio of 164.46 and a beta of 1.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The company had revenue of $7.75 billion during the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the firm posted ($1.21) EPS. The company’s quarterly revenue was up 93.3% on a year-over-year basis. As a group, analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were given a $0.115 dividend. 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 (DPR) is presently 67.65%.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Thursday, September 26th. The shares were 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 owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.32% of the stock is currently owned by insiders.

Micron Technology 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.