Brighton Jones LLC Grows Stake in Micron Technology, Inc. (NASDAQ:MU)

Brighton Jones LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 20.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,636 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,318 shares during the period. Brighton Jones LLC’s holdings in Micron Technology were worth $663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Micron Technology by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 99,857,205 shares of the semiconductor manufacturer’s stock valued at $8,403,982,000 after acquiring an additional 888,087 shares in the last quarter. FMR LLC raised its stake in shares of Micron Technology by 34.6% during the fourth quarter. FMR LLC now owns 47,672,462 shares of the semiconductor manufacturer’s stock valued at $4,012,114,000 after acquiring an additional 12,249,341 shares in the last quarter. Capital World Investors raised its stake in shares of Micron Technology by 63.7% during the fourth quarter. Capital World Investors now owns 41,096,391 shares of the semiconductor manufacturer’s stock valued at $3,458,673,000 after acquiring an additional 15,993,036 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Micron Technology by 3.1% during the fourth quarter. Geode Capital Management LLC now owns 24,449,827 shares of the semiconductor manufacturer’s stock valued at $2,052,973,000 after acquiring an additional 726,282 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Micron Technology during the fourth quarter valued at approximately $1,470,875,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MU. KGI Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their price target on shares of Micron Technology from $145.00 to $135.00 and set an “overweight” rating for the company in a research note on Friday, March 21st. Royal Bank of Canada set a $125.00 price objective on shares of Micron Technology in a report on Wednesday, March 19th. UBS Group lifted their price objective on shares of Micron Technology from $92.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 5th. Finally, Barclays cut their price objective on shares of Micron Technology from $115.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $129.00.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 3,938 shares of the company’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $110.88, for a total value of $436,645.44. Following the completion of the transaction, the chief executive officer now owns 387,175 shares in the company, valued at approximately $42,929,964. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 186,353 shares of the company’s stock, valued at approximately $20,498,830. This trade represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,904 shares of company stock worth $4,665,124 over the last three months. Company insiders own 0.30% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $119.84 on Tuesday. The firm has a market capitalization of $133.93 billion, a PE ratio of 34.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $157.54. The company’s fifty day moving average price is $89.28 and its 200-day moving average price is $92.68.

Micron Technology (NASDAQ:MU) last posted its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.13. The company had revenue of $8.05 billion during the quarter, compared to the consensus estimate of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm’s quarterly revenue was up 38.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.42 earnings per share. On average, equities research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.115 per share. The ex-dividend date was Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a yield of 0.38%. Micron Technology’s dividend payout ratio is presently 11.03%.

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.