TD Asset Management Inc Has $49.76 Million Stake in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• TD Asset Management Inc increased its stake in Micron Technology by 2.1%, acquiring an additional 11,954 shares during the first quarter, bringing its total ownership to approximately 572,657 shares valued at $49,758,000.
• Several brokerages have revised their price targets for Micron Technology, with UBS raising its target from $120.00 to $155.00 and a consensus average target price now standing at $146.44.
• The company's recent quarterly earnings showed an EPS of $1.91, exceeding analyst expectations, with revenues reaching $9.30 billion, highlighting a strong performance in the semiconductor market.

TD Asset Management Inc grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 572,657 shares of the semiconductor manufacturer's stock after buying an additional 11,954 shares during the period. TD Asset Management Inc owned approximately 0.05% of Micron Technology worth $49,758,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the 1st quarter valued at about $33,000. Roxbury Financial LLC grew its position in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the period. AllSquare Wealth Management LLC increased its stake in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares in the last quarter. Finally, Hurley Capital LLC acquired a new stake in Micron Technology during the 4th quarter worth approximately $37,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded down $4.05 on Friday, hitting $105.09. The company had a trading volume of 12,963,944 shares, compared to its average volume of 23,237,254. The stock has a market cap of $117.61 billion, a price-to-earnings ratio of 18.96 and a beta of 1.35. The stock has a 50 day moving average price of $114.13 and a 200 day moving average price of $97.94. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the business posted $0.62 earnings per share. Analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the sale, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, June 26th. TD Cowen upped their target price on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Robert W. Baird lifted their price target on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research note on Friday, June 27th. Susquehanna boosted their price target on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. Finally, Wall Street Zen upgraded Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.44.

Micron Technology Company 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.