Brooklyn Investment Group Increases Stake in Micron Technology, Inc. (NASDAQ:MU)

Brooklyn Investment Group increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.3% during the third quarter, Holdings Channel.com reports. The firm owned 7,084 shares of the semiconductor manufacturer’s stock after acquiring an additional 228 shares during the quarter. Brooklyn Investment Group’s holdings in Micron Technology were worth $735,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MU. D.A. Davidson & CO. grew its holdings in Micron Technology by 17.2% in the 3rd quarter. D.A. Davidson & CO. now owns 68,844 shares of the semiconductor manufacturer’s stock worth $7,140,000 after acquiring an additional 10,080 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Micron Technology by 2.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,726,755 shares of the semiconductor manufacturer’s stock worth $179,113,000 after purchasing an additional 47,653 shares during the period. Mirabella Financial Services LLP boosted its holdings in shares of Micron Technology by 1,807.0% during the third quarter. Mirabella Financial Services LLP now owns 90,906 shares of the semiconductor manufacturer’s stock worth $9,428,000 after purchasing an additional 86,139 shares during the period. Truvestments Capital LLC increased its holdings in Micron Technology by 38.4% during the 3rd quarter. Truvestments Capital LLC now owns 4,549 shares of the semiconductor manufacturer’s stock valued at $472,000 after purchasing an additional 1,263 shares during the period. Finally, Independent Advisor Alliance raised its position in Micron Technology by 9.9% during the 3rd quarter. Independent Advisor Alliance now owns 57,413 shares of the semiconductor manufacturer’s stock valued at $5,954,000 after purchasing an additional 5,180 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price objective on Micron Technology from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Wells Fargo & Company cut their price target on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Wednesday, September 18th. KeyCorp reduced their price objective on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 8th. BNP Paribas cut shares of Micron Technology from an “outperform” rating to an “underperform” rating and dropped their target price for the stock from $140.00 to $67.00 in a research report on Thursday, September 12th. Finally, Morgan Stanley boosted their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $143.04.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total transaction of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.32% of the stock is owned by company insiders.

Micron Technology Trading Up 1.8 %

Shares of NASDAQ:MU opened at $104.48 on Tuesday. The stock’s 50-day simple moving average is $102.80 and its two-hundred day simple moving average is $112.03. The stock has a market capitalization of $115.84 billion, a price-to-earnings ratio of 153.65 and a beta of 1.18. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. The firm’s revenue was up 93.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.21) earnings per share. Analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Monday, October 7th were issued a $0.115 dividend. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.44%. Micron Technology’s dividend payout ratio is currently 67.65%.

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.