Micron Technology, Inc. (NASDAQ:MU) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group raised its position in Micron Technology, Inc. (NASDAQ:MU) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,282 shares of the semiconductor manufacturer’s stock after purchasing an additional 198 shares during the quarter. Brooklyn Investment Group’s holdings in Micron Technology were worth $613,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ProVise Management Group LLC acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $236,000. Intech Investment Management LLC lifted its holdings in shares of Micron Technology by 111.3% in the 2nd quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock worth $12,236,000 after acquiring an additional 49,001 shares during the last quarter. LHM Inc. increased its stake in Micron Technology by 38.5% during the 2nd quarter. LHM Inc. now owns 77,242 shares of the semiconductor manufacturer’s stock worth $10,160,000 after buying an additional 21,478 shares during the period. Ieq Capital LLC increased its stake in Micron Technology by 10.8% during the 2nd quarter. Ieq Capital LLC now owns 56,017 shares of the semiconductor manufacturer’s stock worth $7,368,000 after buying an additional 5,473 shares during the period. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Micron Technology by 17.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock worth $547,000 after buying an additional 618 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Performance

Shares of MU opened at $105.75 on Friday. The company has a 50-day simple moving average of $98.00 and a 200-day simple moving average of $102.66. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period last year, the firm posted ($0.95) EPS. The firm’s revenue for the quarter was up 84.3% on a year-over-year basis. Equities research analysts predict that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. Micron Technology’s dividend payout ratio (DPR) is presently 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Raymond James increased their price objective on shares of Micron Technology from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Thursday, September 26th. Barclays dropped their price objective on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, December 20th. TD Cowen dropped their price objective on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Sanford C. Bernstein dropped their price objective on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $135.24.

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.