Brown Brothers Harriman & Co. Trims Stake in Micron Technology, Inc. (NASDAQ:MU)

Brown Brothers Harriman & Co. lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 49.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,725 shares of the semiconductor manufacturer’s stock after selling 2,622 shares during the period. Brown Brothers Harriman & Co.’s holdings in Micron Technology were worth $283,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Highline Wealth Partners LLC acquired a new position in Micron Technology in the third quarter valued at approximately $26,000. Hobbs Group Advisors LLC purchased a new stake in Micron Technology in the 2nd quarter valued at $28,000. Davis Capital Management purchased a new stake in Micron Technology in the 3rd quarter valued at $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 valued at $34,000 after purchasing an additional 144 shares during the last quarter. Finally, DT Investment Partners LLC lifted its stake in shares of Micron Technology by 261.1% in the 3rd quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on MU shares. Stifel Nicolaus reduced their price target on shares of Micron Technology from $165.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, September 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Micron Technology in a report on Tuesday, October 1st. KeyCorp lowered their target price on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Robert W. Baird reduced their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Finally, Wells Fargo & Company reduced their price objective on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating for the company in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the company. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Micron Technology Trading Down 3.5 %

MU opened at $98.20 on Thursday. The stock has a market capitalization of $108.88 billion, a PE ratio of 144.41 and a beta of 1.18. The firm’s fifty day moving average price is $103.28 and its 200 day moving average price is $111.80. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.64 and a quick ratio of 1.68. Micron Technology, Inc. has a 12-month low of $72.93 and a 12-month high of $157.54.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($1.21) earnings per share. As a group, research analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.47%. Micron Technology’s dividend payout ratio (DPR) is 67.65%.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares in the company, valued at approximately $15,348,790. This represents a 3.47 % 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. 0.32% of the stock is owned by corporate insiders.

Micron Technology Company 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.