Brookstone Capital Management Sells 1,363 Shares of Micron Technology, Inc. (NASDAQ:MU)

Brookstone Capital Management lowered its position in Micron Technology, Inc. (NASDAQ:MUGet Rating) by 6.3% during the 2nd quarter, Holdings Channel reports. The firm owned 20,352 shares of the semiconductor manufacturer’s stock after selling 1,363 shares during the quarter. Brookstone Capital Management’s holdings in Micron Technology were worth $1,204,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. FineMark National Bank & Trust raised its stake in Micron Technology by 4.0% in the 4th quarter. FineMark National Bank & Trust now owns 3,062 shares of the semiconductor manufacturer’s stock worth $285,000 after acquiring an additional 119 shares during the last quarter. Hilltop Holdings Inc. raised its stake in Micron Technology by 16.6% in the 4th quarter. Hilltop Holdings Inc. now owns 5,655 shares of the semiconductor manufacturer’s stock worth $527,000 after acquiring an additional 806 shares during the last quarter. Fiduciary Trust Co. purchased a new position in Micron Technology in the 4th quarter worth $214,000. Mutual Advisors LLC raised its stake in Micron Technology by 59.1% in the 4th quarter. Mutual Advisors LLC now owns 10,499 shares of the semiconductor manufacturer’s stock worth $978,000 after acquiring an additional 3,901 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in Micron Technology during the 4th quarter worth about $480,000. Institutional investors own 79.66% of the company’s stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $50.10 on Thursday. The company has a quick ratio of 2.44, a current ratio of 3.24 and a debt-to-equity ratio of 0.14. The company has a fifty day simple moving average of $59.13 and a two-hundred day simple moving average of $65.50. The company has a market cap of $55.27 billion, a price-to-earnings ratio of 5.71, a price-to-earnings-growth ratio of 3.02 and a beta of 1.30. Micron Technology, Inc. has a 52 week low of $49.72 and a 52 week high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last announced its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.33 by $0.17. Micron Technology had a net margin of 30.61% and a return on equity of 21.91%. The firm had revenue of $8.64 billion during the quarter, compared to analysts’ expectations of $8.66 billion. During the same period in the previous year, the company earned $1.81 earnings per share. Micron Technology’s quarterly revenue was up 16.4% compared to the same quarter last year. As a group, equities analysts anticipate that Micron Technology, Inc. will post 7.9 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 26th. Stockholders of record on Monday, July 11th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.92%. This is a boost from Micron Technology’s previous quarterly dividend of $0.10. The ex-dividend date was Friday, July 8th. Micron Technology’s dividend payout ratio is presently 5.25%.

Insider Activity

In related news, SVP Michael W. Bokan sold 16,600 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $63.82, for a total transaction of $1,059,412.00. Following the completion of the transaction, the senior vice president now directly owns 119,126 shares of the company’s stock, valued at $7,602,621.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

MU has been the topic of several analyst reports. BNP Paribas initiated coverage on Micron Technology in a research report on Tuesday, September 13th. They set an “outperform” rating and a $75.00 price target on the stock. Deutsche Bank Aktiengesellschaft cut their price target on Micron Technology from $70.00 to $68.00 and set a “buy” rating on the stock in a research report on Wednesday, August 10th. Raymond James downgraded Micron Technology from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $72.00 to $65.00 in a research report on Tuesday, August 9th. Mizuho downgraded Micron Technology from a “buy” rating to a “neutral” rating and cut their price target for the stock from $75.00 to $56.00 in a research report on Wednesday. Finally, Wells Fargo & Company dropped their target price on Micron Technology from $90.00 to $75.00 and set an “overweight” rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Moderate Buy” and a consensus target price of $83.34.

About Micron Technology

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Micron Technology, Inc designs, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Storage Business Unit, and Embedded Business Unit. It provides memory and storage technologies comprises DRAM products, which are dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; NAND products that are non-volatile and re-writeable semiconductor storage devices; and NOR memory products, which are 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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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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