Brandywine Global Investment Management LLC Acquires 129,381 Shares of Micron Technology, Inc. $MU

Key Points

• Brandywine Global Investment Management LLC increased its holdings in Micron Technology by 46.1% to $35.64 million, owning 410,118 shares after acquiring an additional 129,381 shares.
• Wall Street analysts have generally positive sentiments about Micron Technology, with price targets increasing; JPMorgan Chase raised theirs from $165.00 to $185.00, and other firms set targets between $150.00 and $200.00.
• Micron recently reported earnings of $1.91 per share, surpassing analyst estimates, and declared a quarterly dividend of $0.115, representing a yield of 0.4%.

Brandywine Global Investment Management LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 46.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 410,118 shares of the semiconductor manufacturer's stock after acquiring an additional 129,381 shares during the quarter. Brandywine Global Investment Management LLC's holdings in Micron Technology were worth $35,635,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Sunbeam Capital Management LLC bought a new stake in Micron Technology during the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new stake in Micron Technology during the 1st quarter valued at about $33,000. AllSquare Wealth Management LLC increased its stake in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in Micron Technology during the 1st quarter valued at about $36,000. Finally, Roxbury Financial LLC increased its stake in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insider Transactions at Micron Technology

In other news, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MU has been the subject of a number of analyst reports. Cantor Fitzgerald raised their price objective on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Wedbush lifted their price target on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. KeyCorp lifted their price target on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Micron Technology in a research note on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average target price of $147.24.

Micron Technology Price Performance

NASDAQ:MU traded up $2.68 during trading hours on Monday, hitting $123.55. 12,191,368 shares of the stock traded hands, compared to its average volume of 23,061,104. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. The company has a market cap of $138.27 billion, a price-to-earnings ratio of 22.26 and a beta of 1.37. The stock has a 50 day moving average price of $118.02 and a 200 day moving average price of $99.17.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's payout ratio is 8.29%.

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.