Brandywine Global Investment Management LLC Has $35.64 Million Holdings in Micron Technology, Inc. (NASDAQ:MU)

Brandywine Global Investment Management LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 46.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 410,118 shares of the semiconductor manufacturer’s stock after acquiring an additional 129,381 shares during the period. Brandywine Global Investment Management LLC’s holdings in Micron Technology were worth $35,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology in the first quarter valued at about $33,000. AllSquare Wealth Management LLC boosted its position 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 buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Micron Technology during the first quarter worth about $36,000. Finally, Roxbury Financial LLC boosted its position 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 period. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MU. JPMorgan Chase & Co. upped their price objective on Micron Technology from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Tuesday. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of Micron Technology in a research report on Monday. Raymond James Financial upped their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research report on Thursday, June 26th. Citigroup upped their price objective on Micron Technology from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, June 26th. Finally, Erste Group Bank began coverage on Micron Technology in a research report on Thursday. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.24.

Micron Technology Stock Performance

MU opened at $125.29 on Friday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. The stock has a market cap of $140.21 billion, a price-to-earnings ratio of 22.57 and a beta of 1.37. The business has a 50 day moving average of $117.77 and a 200-day moving average of $98.83. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analysts’ expectations of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%. During the same period last year, the firm posted $0.62 earnings per share. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared 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 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) is presently 8.29%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the firm’s stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares in the company, valued at $25,264,399.74. This trade represents a 31.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the company’s stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the sale, the director owned 22,762 shares of the company’s stock, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,042 shares of company stock worth $34,679,277 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Micron Technology Company 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.