Stonebrook Private Inc. Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Stonebrook Private Inc. raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.2% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,454 shares of the semiconductor manufacturer’s stock after acquiring an additional 98 shares during the period. Stonebrook Private Inc.’s holdings in Micron Technology were worth $255,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MU. Highline Wealth Partners LLC bought a new stake in shares of Micron Technology in the third quarter worth $26,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology during the 2nd quarter valued at about $28,000. Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter valued at about $30,000. Richard W. Paul & Associates LLC lifted its stake in shares of Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 144 shares during the period. Finally, DT Investment Partners LLC boosted its holdings in shares of Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock worth $34,000 after buying an additional 235 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 0.1 %

Shares of MU opened at $102.64 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. The stock has a market capitalization of $113.80 billion, a price-to-earnings ratio of 150.94 and a beta of 1.18. Micron Technology, Inc. has a 1 year low of $72.93 and a 1 year high of $157.54. The business’s 50 day simple moving average is $102.46 and its 200-day simple moving average is $112.18.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, beating 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 company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter in the prior year, the firm earned ($1.21) earnings per share. Micron Technology’s revenue was up 93.3% on a year-over-year basis. As a group, equities analysts expect that Micron Technology, Inc. will post 8.31 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were given a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 annualized dividend and a yield of 0.45%. Micron Technology’s dividend payout ratio is currently 67.65%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.32% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on MU. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Robert W. Baird decreased their target price on Micron Technology from $172.00 to $150.00 and set an “outperform” rating on the stock in a report on Friday, September 27th. Bank of America boosted their price target on Micron Technology from $110.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Tuesday, October 1st. Finally, Morgan Stanley boosted their price objective on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-six have given a buy rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $143.04.

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.