Brown Advisory Inc. Reduces Holdings in Micron Technology, Inc. (NASDAQ:MU)

Brown Advisory Inc. decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 45.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 68,918 shares of the semiconductor manufacturer's stock after selling 56,578 shares during the quarter. Brown Advisory Inc.'s holdings in Micron Technology were worth $5,988,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology during the fourth quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology during the first quarter worth about $33,000. Curio Wealth LLC purchased a new position in shares of Micron Technology during the fourth quarter worth about $34,000. Hurley Capital LLC purchased a new position in shares of Micron Technology during the fourth quarter worth about $37,000. Finally, Roxbury Financial LLC grew its holdings in shares of Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Mizuho raised their price target on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Rosenblatt Securities raised their price target on Micron Technology from $172.00 to $200.00 and gave the stock a "buy" rating in a report on Monday, June 23rd. Morgan Stanley raised their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Barclays raised their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Finally, 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 report on Thursday, June 26th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and an average target price of $146.44.

Micron Technology Price Performance

MU stock opened at $124.53 on Friday. The firm has a 50 day moving average of $108.03 and a 200-day moving average of $95.92. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $135.35. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a market cap of $139.36 billion, a price-to-earnings ratio of 22.44 and a beta of 1.35.

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 (EPS) for the quarter, topping 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 firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the previous year, the firm posted $0.62 EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 22nd. Investors of record on Monday, July 7th will be given a dividend of $0.115 per share. The ex-dividend date is Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.37%. Micron Technology's dividend payout ratio is currently 8.29%.

Insider Activity

In related news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the transaction, the executive vice president directly owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology 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 transaction, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 254,446 shares of company stock worth $31,154,717. 0.30% of the stock is owned by corporate insiders.

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.

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