Brown Brothers Harriman & Co. Sells 1,227 Shares of Micron Technology, Inc. (NASDAQ:MU)

Brown Brothers Harriman & Co. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 18.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,347 shares of the semiconductor manufacturer’s stock after selling 1,227 shares during the period. Brown Brothers Harriman & Co.’s holdings in Micron Technology were worth $703,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the 2nd quarter valued at about $28,000. DecisionPoint Financial LLC purchased a new position in Micron Technology during the 1st quarter valued at about $25,000. Valued Wealth Advisors LLC grew its holdings in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. Richard W. Paul & Associates LLC grew its holdings in Micron Technology by 128.6% during the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares in the last quarter. Finally, LRI Investments LLC grew its holdings in Micron Technology by 57.2% during the 2nd quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after buying an additional 99 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler lifted their target price on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. TD Cowen boosted their price objective on Micron Technology from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Wedbush reissued an “outperform” rating and set a $170.00 price objective on shares of Micron Technology in a report on Thursday, June 27th. Raymond James cut their price objective on Micron Technology from $160.00 to $125.00 and set an “outperform” rating for the company in a report on Thursday, September 12th. Finally, Robert W. Baird boosted their price objective on Micron Technology from $150.00 to $172.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $149.12.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total transaction of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.32% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $88.73 on Wednesday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 2.16 and a current ratio of 3.41. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The stock has a 50 day moving average price of $102.46 and a two-hundred day moving average price of $114.96. The company has a market capitalization of $98.39 billion, a P/E ratio of -62.49 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The company had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The firm’s revenue for the quarter was up 81.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($1.57) earnings per share. Analysts expect that Micron Technology, Inc. will post 0.61 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Investors of record on Monday, July 8th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.52%. Micron Technology’s dividend payout ratio is presently -32.39%.

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.