Brio Consultants LLC Purchases New Position in Micron Technology, Inc. (NASDAQ:MU)

Key Points

• Brio Consultants LLC has acquired a new stake in Micron Technology, purchasing 7,926 shares valued at approximately $689,000.
• During the 4th quarter, several institutional investors, including Capital World Investors and FMR LLC, significantly increased their holdings in Micron Technology.
• Micron Technology reported a quarterly earnings per share of $1.91, exceeding analysts' expectations and reflecting strong revenue growth of $9.30 billion.

Brio Consultants LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,926 shares of the semiconductor manufacturer's stock, valued at approximately $689,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Capital World Investors lifted its holdings in shares of Micron Technology by 63.7% during the 4th quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer's stock worth $3,458,673,000 after acquiring an additional 15,993,036 shares during the period. FMR LLC lifted its holdings in shares of Micron Technology by 34.6% during the 4th quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer's stock worth $4,012,114,000 after acquiring an additional 12,249,341 shares during the period. Capital Research Global Investors lifted its holdings in shares of Micron Technology by 139.7% during the 4th quarter. Capital Research Global Investors now owns 16,281,620 shares of the semiconductor manufacturer's stock worth $1,370,280,000 after acquiring an additional 9,489,579 shares during the period. Capital International Investors lifted its holdings in shares of Micron Technology by 36.3% during the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after acquiring an additional 4,375,232 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Micron Technology by 198.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,545,882 shares of the semiconductor manufacturer's stock worth $550,903,000 after acquiring an additional 4,352,225 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Trading Down 0.0%

MU opened at $111.25 on Tuesday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The company has a fifty day moving average of $113.19 and a 200-day moving average of $97.62. The stock has a market cap of $124.50 billion, a PE ratio of 20.05 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping 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 company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the prior year, the company posted $0.62 earnings per share. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of recent analyst reports. Stifel Nicolaus upped their price target on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Cantor Fitzgerald upped their price target on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $135.00 to $165.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Rosenblatt Securities increased their price objective on shares of Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, June 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $146.44.

Insider Activity at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the sale, the director owned 22,550 shares of the company's stock, valued at $2,734,864. The trade was a 9.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,446 shares of company stock valued at $34,871,597 over the last 90 days. 0.30% of the stock is owned by company 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.

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