Brookwood Investment Group LLC Acquires New Holdings in Micron Technology, Inc. (NASDAQ:MU)

Brookwood Investment Group LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,563 shares of the semiconductor manufacturer's stock, valued at approximately $2,134,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sunbeam Capital Management LLC purchased a new stake in Micron Technology during the 4th quarter valued at $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology during the first quarter valued at about $33,000. AllSquare Wealth Management LLC boosted its holdings in shares of Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the period. Hurley Capital LLC bought a new stake in shares of Micron Technology in the fourth quarter worth about $37,000. Finally, Roxbury Financial LLC increased its holdings 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 during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Up 1.7%

Shares of NASDAQ:MU traded up $1.90 during trading on Thursday, reaching $111.73. The company's stock had a trading volume of 20,223,773 shares, compared to its average volume of 24,822,728. The firm's 50 day simple moving average is $112.68 and its two-hundred day simple moving average is $97.50. 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 $129.85. The stock has a market capitalization of $125.04 billion, a PE ratio of 20.13 and a beta of 1.35.

Micron Technology (NASDAQ:MU - Get Free Report) last released 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 return on equity of 13.60% and a net margin of 18.41%. The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Monday, July 7th. Micron Technology's payout ratio is currently 8.29%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MU. Raymond James Financial upped their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. TD Cowen upped their price target on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Rosenblatt Securities raised their price objective on Micron Technology from $172.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, June 23rd. Needham & Company LLC boosted their target price on Micron Technology from $120.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Finally, Arete Research raised Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $146.44.

Insider Buying and Selling

In other news, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president owned 186,353 shares of the company's stock, valued at $20,498,830. The trade was a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 288,446 shares of company stock worth $34,871,597 over the last ninety days. Corporate insiders own 0.30% of the company's stock.

About Micron Technology

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.