Brown Brothers Harriman & Co. Buys 446 Shares of Micron Technology, Inc. (NASDAQ:MU)

Brown Brothers Harriman & Co. increased its position in Micron Technology, Inc. (NASDAQ:MU) by 16.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,171 shares of the semiconductor manufacturer’s stock after acquiring an additional 446 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Micron Technology were worth $267,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. True Wealth Design LLC raised its holdings in shares of Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares in the last quarter. Beacon Capital Management LLC increased its position in shares of Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Midwest Capital Advisors LLC purchased a new stake in Micron Technology in the fourth quarter valued at approximately $33,000. Comprehensive Financial Planning Inc. PA bought a new stake in Micron Technology during the fourth quarter valued at approximately $34,000. Finally, Curio Wealth LLC purchased a new position in Micron Technology in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $86.89 on Tuesday. 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 firm’s fifty day simple moving average is $95.62 and its 200 day simple moving average is $98.51. The stock has a market cap of $97.11 billion, a P/E ratio of 25.04 and a beta of 1.23. Micron Technology, Inc. has a twelve month low of $83.54 and a twelve month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.05 billion for the quarter, compared to analyst estimates of $7.93 billion. During the same quarter in the previous year, the firm posted $0.42 EPS. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.53%. The ex-dividend date is Monday, March 31st. Micron Technology’s dividend payout ratio is currently 11.03%.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total transaction of $223,403.72. Following the completion of the transaction, the director now owns 27,358 shares of the company’s stock, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total value of $1,442,700.00. Following the completion of the sale, the executive vice president now directly owns 164,769 shares in the company, valued at approximately $15,847,482.42. This represents a 8.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MU. China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective for the company. in a report on Wednesday, March 26th. Sanford C. Bernstein cut their price objective on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Morgan Stanley raised their price objective on Micron Technology from $91.00 to $112.00 and gave the company an “equal weight” rating in a report on Friday, March 21st. KGI Securities raised Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Mizuho decreased their price target on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.76.

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.