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

Brighton Jones LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 18.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,318 shares of the semiconductor manufacturer’s stock after purchasing 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 and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Highline Wealth Partners LLC purchased a new stake in Micron Technology in the third quarter valued at approximately $26,000. Davis Capital Management purchased a new stake in shares of Micron Technology during the 3rd quarter valued at $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Micron Technology during the 2nd quarter worth $39,000. Stone House Investment Management LLC grew its position in Micron Technology by 602.2% in the third quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 277 shares in the last quarter. Finally, True Wealth Design LLC increased its stake in Micron Technology by 1,096.3% in the third 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 during the last quarter. 80.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on MU shares. Stifel Nicolaus cut their price objective on Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Mizuho cut their target price 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. KeyCorp decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 8th. Bank of America cut shares of Micron Technology from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $110.00 in a research note on Thursday, December 19th. Finally, Cantor Fitzgerald decreased their target price on shares of Micron Technology from $150.00 to $130.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $135.24.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $103.19 on Monday. The business has a fifty day simple moving average of $98.36 and a two-hundred day simple moving average of $101.32. The firm has a market capitalization of $114.97 billion, a P/E ratio of 29.74 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month 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 business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the firm posted ($0.95) earnings per share. Micron Technology’s quarterly revenue was up 84.3% on a year-over-year basis. On average, equities analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

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.