Brighton Jones LLC Raises Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Brighton Jones LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 6,318 shares of the semiconductor manufacturer’s stock after buying an additional 976 shares during the quarter. Brighton Jones LLC’s holdings in Micron Technology were worth $532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Highline Wealth Partners LLC bought a new position in Micron Technology in the third quarter valued at about $26,000. Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter valued at about $30,000. True Wealth Design LLC lifted its stake 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 worth $33,000 after purchasing an additional 296 shares during the period. 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. Finally, Stone House Investment Management LLC grew its position in Micron Technology by 602.2% during the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 277 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

NASDAQ:MU opened at $103.19 on Monday. The firm has a market capitalization of $114.97 billion, a price-to-earnings ratio of 29.74 and a beta of 1.18. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The business has a 50 day simple moving average of $98.36 and a 200-day simple moving average of $101.32. Micron Technology, Inc. has a 1 year low of $79.15 and a 1 year high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. During the same period in the previous year, the firm earned ($0.95) earnings per share. Micron Technology’s quarterly revenue was up 84.3% compared to the same quarter last year. Equities analysts forecast that Micron Technology, Inc. will post 6.29 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. China Renaissance assumed coverage on shares of Micron Technology in a research note on Monday, October 28th. They set a “buy” rating and a $148.00 price target on the stock. TD Cowen cut their price target on Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Robert W. Baird decreased their price objective on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, December 19th. Mizuho cut their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research note on Thursday, December 19th. Finally, Barclays decreased their target price on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, Micron Technology has an average rating of “Moderate Buy” and an average target price of $135.24.

Insider Activity

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 shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the sale, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. The trade was a 2.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.30% of the company’s stock.

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.