Brown Brothers Harriman & Co. Purchases 446 Shares of Micron Technology, Inc. (NASDAQ:MU)

Brown Brothers Harriman & Co. grew its position in Micron Technology, Inc. (NASDAQ:MU) by 16.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 3,171 shares of the semiconductor manufacturer’s stock after purchasing an additional 446 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Micron Technology were worth $267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Level Four Advisory Services LLC boosted its position in shares of Micron Technology by 9.2% during the fourth quarter. Level Four Advisory Services LLC now owns 63,584 shares of the semiconductor manufacturer’s stock valued at $5,351,000 after buying an additional 5,350 shares during the last quarter. denkapparat Operations GmbH purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $452,000. Orion Portfolio Solutions LLC grew its stake in shares of Micron Technology by 2.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 48,342 shares of the semiconductor manufacturer’s stock worth $4,068,000 after acquiring an additional 1,045 shares during the period. Pictet Asset Management Holding SA raised its holdings in shares of Micron Technology by 1.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 3,787,719 shares of the semiconductor manufacturer’s stock valued at $318,774,000 after purchasing an additional 47,328 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Micron Technology by 339.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 2,255,000 shares of the semiconductor manufacturer’s stock valued at $189,781,000 after purchasing an additional 1,742,073 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $96.18, for a total transaction of $1,442,700.00. Following the sale, the executive vice president now directly owns 164,769 shares of the company’s stock, valued at $15,847,482.42. The trade was a 8.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $92.93, for a total value of $223,403.72. Following the sale, the director now owns 27,358 shares in the company, valued at approximately $2,542,378.94. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MU has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $130.00 target price on shares of Micron Technology in a research report on Friday, March 21st. Citigroup reduced their price objective on Micron Technology from $150.00 to $120.00 and set a “buy” rating for the company in a research report on Friday, March 21st. Stifel Nicolaus dropped their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. UBS Group upped their price target on shares of Micron Technology from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Monday, March 17th. Finally, China Renaissance downgraded shares of Micron Technology from a “buy” rating to a “hold” rating and set a $84.00 price objective on the stock. in a report on Wednesday, March 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus price target of $129.76.

Micron Technology Stock Down 1.8 %

Shares of MU opened at $86.89 on Tuesday. Micron Technology, Inc. has a 12-month low of $83.54 and a 12-month high of $157.54. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $97.11 billion, a PE ratio of 25.04 and a beta of 1.23. The business’s 50 day moving average is $95.62 and its 200 day moving average is $98.51.

Micron Technology (NASDAQ:MU) last issued its earnings results on Thursday, March 20th. The semiconductor manufacturer reported $1.56 earnings per share for the quarter, topping analysts’ consensus estimates of $1.43 by $0.13. The firm had revenue of $8.05 billion during the quarter, compared to analyst estimates of $7.93 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. Micron Technology’s revenue for the quarter was up 38.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.42 earnings per share. Research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.115 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. Micron Technology’s dividend payout ratio is currently 11.03%.

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.