Brookstone Capital Management Grows Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Brookstone Capital Management grew its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 164.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 31,537 shares of the semiconductor manufacturer's stock after acquiring an additional 19,616 shares during the period. Brookstone Capital Management's holdings in Micron Technology were worth $2,740,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Micron Technology in the 4th quarter valued at $1,470,875,000. Capital World Investors boosted its position 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 valued at $3,458,673,000 after purchasing an additional 15,993,036 shares in the last quarter. FMR LLC boosted 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 buying an additional 12,249,341 shares in the last quarter. Capital Research Global Investors boosted its position 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 purchasing an additional 9,489,579 shares in the last quarter. Finally, Capital International Investors lifted its holdings in shares of Micron Technology by 36.3% in the 4th quarter. Capital International Investors now owns 16,437,080 shares of the semiconductor manufacturer's stock worth $1,383,442,000 after purchasing an additional 4,375,232 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of a number of recent analyst reports. China Renaissance cut Micron Technology from a "buy" rating to a "hold" rating and set a $84.00 target price on the stock. in a research note on Wednesday, March 26th. Needham & Company LLC boosted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Susquehanna increased their price objective on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research report on Thursday, June 26th. Wells Fargo & Company lifted their price target on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, TD Cowen upped their price objective on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $146.21.

Insider Activity

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president directly owned 186,353 shares of the company's stock, valued at $20,498,830. The trade was a 9.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 254,446 shares of company stock valued at $31,154,717. Insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

MU stock traded up $4.50 during trading hours on Tuesday, hitting $124.42. 26,184,598 shares of the stock were exchanged, compared to its average volume of 23,302,958. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $136.50. The firm has a market capitalization of $139.24 billion, a P/E ratio of 22.42 and a beta of 1.35. The company has a 50-day simple moving average of $104.39 and a two-hundred day simple moving average of $95.06.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date is Monday, July 7th. Micron Technology's dividend payout ratio is currently 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.