Tower Research Capital LLC TRC boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 14,865.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,768 shares of the semiconductor manufacturer’s stock after buying an additional 57,382 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Micron Technology were worth $3,029,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of MU. Gideon Capital Advisors Inc. increased its holdings in shares of Micron Technology by 209.9% during the 1st quarter. Gideon Capital Advisors Inc. now owns 62,336 shares of the semiconductor manufacturer’s stock valued at $3,250,000 after purchasing an additional 42,223 shares in the last quarter. Redpoint Investment Management Pty Ltd increased its holdings in shares of Micron Technology by 3.2% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 151,404 shares of the semiconductor manufacturer’s stock valued at $7,940,000 after purchasing an additional 4,694 shares in the last quarter. Usca Ria LLC increased its holdings in shares of Micron Technology by 16.8% during the 2nd quarter. Usca Ria LLC now owns 18,980 shares of the semiconductor manufacturer’s stock valued at $995,000 after purchasing an additional 2,730 shares in the last quarter. Cadence Capital Management LLC increased its holdings in shares of Micron Technology by 18.1% during the 2nd quarter. Cadence Capital Management LLC now owns 32,470 shares of the semiconductor manufacturer’s stock valued at $1,703,000 after purchasing an additional 4,972 shares in the last quarter. Finally, Independent Advisor Alliance increased its holdings in shares of Micron Technology by 60.8% during the 2nd quarter. Independent Advisor Alliance now owns 8,443 shares of the semiconductor manufacturer’s stock valued at $433,000 after purchasing an additional 3,191 shares in the last quarter. 74.04% of the stock is owned by institutional investors.

Shares of MU opened at $43.60 on Wednesday. Micron Technology, Inc. has a 52-week low of $33.56 and a 52-week high of $64.66. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.06 and a current ratio of 2.63. The firm has a market cap of $52.03 billion, a price-to-earnings ratio of 9.89, a price-to-earnings-growth ratio of 0.52 and a beta of 1.63.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 20th. The semiconductor manufacturer reported $3.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.13 by $0.02. Micron Technology had a net margin of 43.35% and a return on equity of 51.12%. The company had revenue of $7.80 billion for the quarter, compared to analysts’ expectations of $7.76 billion. During the same quarter in the previous year, the company posted $1.62 EPS. The firm’s quarterly revenue was up 40.1% on a year-over-year basis. analysts forecast that Micron Technology, Inc. will post 11.56 earnings per share for the current fiscal year.

Micron Technology declared that its Board of Directors has authorized a stock repurchase 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 generally an indication that the company’s management believes its stock is undervalued.

MU has been the subject of several recent research reports. ValuEngine lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Monday, July 2nd. Barclays lifted their target price on shares of Micron Technology to $67.00 and gave the company an “overweight” rating in a report on Thursday, June 21st. BidaskClub lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. Evercore ISI lifted their target price on shares of Micron Technology from $80.00 to $100.00 and gave the company an “outperform” rating in a report on Monday, June 18th. Finally, Stifel Nicolaus lifted their target price on shares of Micron Technology to $108.00 and gave the company a “buy” rating in a report on Thursday, June 21st. Ten investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $70.33.

In other Micron Technology news, Director Robert E. Switz sold 75,000 shares of Micron Technology 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 owns 120,257 shares of the company’s stock, valued at approximately $6,414,508.38. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Steven L. Thorsen, Jr. sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 126,990 shares in the company, valued at approximately $6,995,879.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 140,000 shares of company stock worth $7,604,100. 0.53% of the stock is currently owned by corporate insiders.

Micron Technology Profile

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.

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

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