Brookstone Capital Management reduced its holdings in Micron Technology Inc. (NASDAQ:MU – free report ) by 5.2% during the first quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The firm sold 614 shares during the period, leaving it holding 11,267 shares of the semiconductor maker’s stock. Brookstone Capital Management’s holdings of Micron Technology stock were worth $1,328,000 as of the latest SEC filing.
A number of other hedge funds also modified their positions in MU. Tidemark LLC acquired a new position in Micron Technology in the fourth quarter valued at about $25,000. Pingora Partners LLC acquired a new position in Micron Technology in the fourth quarter valued at about $26,000. Riverview Trust Co acquired a new position in Micron Technology in the first quarter valued at about $39,000. Frank Rimerman Advisors LLC acquired a new stake in Micron Technology in the fourth quarter valued at about $29,000. Finally, VisionPoint Advisory Group LLC increased its position in Micron Technology by 68.3% in the third quarter. VisionPoint Advisory Group LLC acquired an additional 198 shares in the last quarter and now owns 488 shares of the semiconductor maker’s stock valued at $33,000. 80.84% of the stock is owned by hedge funds and other institutional investors.
What Wall Street analysts are saying
Several stock analysts have commented on the MU stock. Mizuho increased their price target on Micron Technology from $150.00 to $155.00 and gave the stock a “buy” rating in a research report on Friday, May 31st. Robert W. Baird increased their price target on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Wolf Research increased their price target on Micron Technology from $150.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, June 21st. Susquehanna increased their price target on Micron Technology from $143.00 to $185.00 and gave the stock a “positive” rating in a report on Monday, June 17th. Finally, StockNews.com upgraded shares of Micron Technology from a “sell” rating to a “hold” rating in a report on Friday, March 22. Two research analysts have rated the stock with a hold rating, and 25 have given the company a buy rating. Based on MarketBeat data, the company’s current consensus rating is a “moderate buy” with a consensus target price of $158.52.
View our latest analysis for MU
Micron Technology shares fell 0.5%
MU opened trading at $131.53 on Friday. The company has a market capitalization of $145.65 billion, a price-to-earnings ratio of -92.63 and a beta of 1.21. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.40 and a current ratio of 3.74. The company’s 50-day simple moving average is $128.07 and its 200-day simple moving average is $106.08. Micron Technology, Inc.’s low over the past 12 months is $60.50 and its high over the past 12 months is $157.54.
Micron Technology (NASDAQ:MU – Get free report ) last released its quarterly earnings data on Wednesday, June 26th. The semiconductor manufacturer reported quarterly earnings per share of $0.43, beating the consensus estimate of $0.38 by $0.05. The company’s quarterly revenue was $6.81 billion, beating analyst expectations of $6.67 billion. Micron Technology had a net margin of -7.20% and a return on equity of -4.03%. The company’s quarterly revenue grew 81.5% year-over-year. Year-over-year earnings per share were ($1.57). Equity research analysts expect that Micron Technology, Inc. will post an EPS of 0.35 for the current fiscal year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which is scheduled to be paid on Tuesday, July 23rd. Shareholders of record as of Monday, July 8th will be paid a dividend of $0.115 per share, which equates to an annualized dividend of $0.46, or a dividend yield of 0.35%. The ex-dividend date is Monday, July 8th. Micron Technology’s dividend payout ratio is currently -32.39%.
Insider Activities
In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction value of $854,630.00. Following the sale, the CEO now owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Micron Technology news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $122.09, for a total transaction value of $854,630.00. Following the transaction, the CEO now owns 743,557 shares of the company’s stock, valued at approximately $90,780,874.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Additionally, Executive Vice President, Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction on Monday, May 6th. The shares were sold at an average price of $119.18, for a total purchase price of $6,354,320.06. Following the completion of the sale, the Executive Vice President now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 304,840 shares of the company’s stock, valued at $37,961,924. 0.32% of the stock is owned by company insiders.
Micron Technology Company Profile
(Free report)
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking, Mobile, Embedded and Storage. The company offers memory and storage technologies under the Micron and Crucial brands, as well as private labels, including dynamic random access memory semiconductor devices that provide low latency and fast data retrieval, nonvolatile rewriteable semiconductor storage devices, and nonvolatile rewriteable semiconductor memory devices that provide fast read speeds.
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