Brio Consultants LLC Makes New $689,000 Investment in Micron Technology, Inc. (NASDAQ:MU)

Brio Consultants LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,926 shares of the semiconductor manufacturer’s stock, valued at approximately $689,000.

A number of other large investors have also bought and sold shares of the stock. FMR LLC lifted its stake in shares of Micron Technology by 34.6% in the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after buying an additional 12,249,341 shares in the last quarter. Capital World Investors lifted its stake in shares of Micron Technology by 63.7% in the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after buying an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Micron Technology by 3.1% in the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock valued at $2,052,973,000 after buying an additional 726,282 shares in the last quarter. Capital International Investors lifted its stake in shares of Micron Technology by 36.3% in the fourth quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer’s stock valued at $1,383,442,000 after buying an additional 4,375,232 shares in the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Micron Technology by 139.7% in the fourth quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer’s stock valued at $1,370,280,000 after buying an additional 9,489,579 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MU has been the topic of a number of recent research reports. KeyCorp raised their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Wells Fargo & Company boosted their price target on shares of Micron Technology from $150.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft began coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a “buy” rating and a $150.00 price target on the stock. Citigroup boosted their price target on shares of Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. Finally, Stifel Nicolaus boosted their price target on shares of Micron Technology from $130.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, June 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $146.44.

Insider Buying and Selling

In related news, CFO Mark J. Murphy sold 34,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer owned 264,036 shares of the company’s stock, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the business’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the transaction, the executive vice president directly owned 275,067 shares of the company’s stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 288,446 shares of company stock valued at $34,871,597. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $111.25 on Tuesday. The company’s 50 day moving average is $113.19 and its 200-day moving average is $97.62. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $124.50 billion, a P/E ratio of 20.05 and a beta of 1.35.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) is currently 8.29%.

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.