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

Brooklyn Investment Group raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,282 shares of the semiconductor manufacturer’s stock after buying an additional 198 shares during the period. Brooklyn Investment Group’s holdings in Micron Technology were worth $613,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. ProVise Management Group LLC acquired a new position in shares of Micron Technology during the second quarter worth $236,000. Intech Investment Management LLC lifted its position in shares of Micron Technology by 111.3% during the second quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock worth $12,236,000 after purchasing an additional 49,001 shares in the last quarter. LHM Inc. lifted its position in shares of Micron Technology by 38.5% during the second quarter. LHM Inc. now owns 77,242 shares of the semiconductor manufacturer’s stock worth $10,160,000 after purchasing an additional 21,478 shares in the last quarter. Ieq Capital LLC increased its stake in shares of Micron Technology by 10.8% in the second 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 last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in shares of Micron Technology by 17.4% in the second 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 last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 3.1 %

Shares of MU opened at $105.75 on Friday. The stock has a fifty day moving average price of $98.00 and a two-hundred day moving average price of $102.66. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a market cap of $117.82 billion, a price-to-earnings ratio of 30.48 and a beta of 1.18.

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

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on MU shares. Barclays lowered their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, December 20th. TD Cowen lowered their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Bank of America lowered shares of Micron Technology from a “buy” rating to a “neutral” rating and lowered their target price for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Piper Sandler reduced their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. Finally, Wells Fargo & Company reduced their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology 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.