Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 65.8% during the third quarter, Holdings Channel.com reports. The fund owned 1,489,297 shares of the semiconductor manufacturer’s stock after buying an additional 590,785 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Micron Technology were worth $154,455,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Highline Wealth Partners LLC purchased a new stake in shares of Micron Technology in the 3rd quarter valued at $26,000. Hobbs Group Advisors LLC acquired a new position in shares of Micron Technology during the second quarter worth about $28,000. Davis Capital Management acquired a new stake in shares of Micron Technology in the 3rd quarter valued at $30,000. True Wealth Design LLC lifted its holdings in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after buying an additional 296 shares during the last quarter. Finally, Richard W. Paul & Associates LLC boosted its position 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 worth $34,000 after acquiring an additional 144 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MU. TD Cowen raised their price target on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Robert W. Baird cut their price target on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a report on Friday, September 27th. Wells Fargo & Company lowered their price objective on Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. Bank of America raised their target price on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, UBS Group lowered their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating on the stock in a report on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $143.04.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now directly owns 135,830 shares in the company, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $98.55 on Tuesday. The company has a market cap of $109.79 billion, a P/E ratio of 144.93 and a beta of 1.16. Micron Technology, Inc. has a one year low of $72.93 and a one year high of $157.54. The business’s 50-day simple moving average is $103.60 and its 200 day simple moving average is $111.32. 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 released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping 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 business 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 company earned ($1.21) earnings per share. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. On average, sell-side analysts forecast that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio is presently 67.65%.

About Micron Technology

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.