Tocqueville Asset Management L.P. boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 222,115 shares of the semiconductor manufacturer’s stock after acquiring an additional 33,634 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Micron Technology were worth $10,046,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Tradewinds Capital Management LLC boosted its stake in shares of Micron Technology by 411.8% in the 2nd quarter. Tradewinds Capital Management LLC now owns 1,996 shares of the semiconductor manufacturer’s stock valued at $105,000 after purchasing an additional 1,606 shares during the last quarter. Credit Agricole S A boosted its stake in shares of Micron Technology by 199,900.0% in the 2nd quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock valued at $105,000 after purchasing an additional 1,999 shares during the last quarter. Ancora Advisors LLC bought a new position in shares of Micron Technology in the 3rd quarter valued at about $111,000. Chicago Partners Investment Group LLC boosted its stake in shares of Micron Technology by 496.7% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 3,389 shares of the semiconductor manufacturer’s stock valued at $117,000 after purchasing an additional 2,821 shares during the last quarter. Finally, First Manhattan Co. boosted its stake in shares of Micron Technology by 211.1% in the 3rd quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock valued at $126,000 after purchasing an additional 1,900 shares during the last quarter. 74.46% of the stock is currently owned by hedge funds and other institutional investors.

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

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, beating the Zacks’ consensus estimate of $3.33 by $0.20. Micron Technology had a net margin of 46.51% and a return on equity of 51.68%. The company had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.25 billion. During the same period last year, the company earned $2.02 earnings per share. The firm’s revenue was up 37.5% compared to the same quarter last year. On average, analysts predict that Micron Technology, Inc. will post 9.86 EPS for the current fiscal year.

Several research analysts have recently issued reports on MU shares. Raymond James started coverage on shares of Micron Technology in a research note on Monday, October 22nd. They issued a “market perform” rating on the stock. ValuEngine upgraded shares of Micron Technology from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. JPMorgan Chase & Co. restated an “overweight” rating and set a $84.00 target price on shares of Micron Technology in a report on Wednesday, September 19th. Wells Fargo & Co dropped their target price on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating on the stock in a report on Wednesday, August 15th. They noted that the move was a valuation call. Finally, BidaskClub downgraded shares of Micron Technology from a “hold” rating to a “sell” rating in a report on Friday, August 17th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $64.82.

ILLEGAL ACTIVITY WARNING: “Micron Technology, Inc. (MU) Position Raised by Tocqueville Asset Management L.P.” was first posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://theolympiareport.com/2018/12/07/micron-technology-inc-mu-position-raised-by-tocqueville-asset-management-l-p.html.

About Micron Technology

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.

Featured Story: How do candlesticks reflect price movement?

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU).

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

Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.