Stonebrook Private Inc. Grows Holdings in Micron Technology, Inc. (NASDAQ:MU)

Stonebrook Private Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.2% in the third quarter, Holdings Channel reports. The firm owned 2,454 shares of the semiconductor manufacturer’s stock after acquiring an additional 98 shares during the period. Stonebrook Private Inc.’s holdings in Micron Technology were worth $255,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in Micron Technology during the 2nd quarter worth $28,000. Highline Wealth Partners LLC bought a new position in shares of Micron Technology during the 3rd quarter worth $26,000. Richard W. Paul & Associates LLC increased its stake in shares of Micron Technology by 128.6% during the second quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 144 shares during the period. LRI Investments LLC raised its holdings in shares of Micron Technology by 57.2% in the second quarter. LRI Investments LLC now owns 272 shares of the semiconductor manufacturer’s stock valued at $36,000 after acquiring an additional 99 shares in the last quarter. Finally, Davis Capital Management purchased a new stake in Micron Technology in the third quarter worth about $30,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Down 0.1 %

Shares of NASDAQ:MU opened at $102.64 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 52-week low of $72.93 and a 52-week high of $157.54. The stock has a market cap of $113.80 billion, a price-to-earnings ratio of 150.94 and a beta of 1.18. The business has a 50-day moving average price of $102.46 and a 200-day moving average price of $112.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a net margin of 3.10% and a return on equity of 1.58%. Micron Technology’s revenue for the quarter was up 93.3% compared to the same quarter last year. During the same period last year, the firm posted ($1.21) EPS. Equities analysts predict that Micron Technology, Inc. will post 8.31 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s payout ratio is 67.65%.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research reports. Morgan Stanley raised their target price 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. BNP Paribas downgraded shares of Micron Technology from an “outperform” rating to an “underperform” rating and reduced their price objective for the stock from $140.00 to $67.00 in a research note on Thursday, September 12th. Needham & Company LLC reaffirmed a “buy” rating and set a $140.00 target price on shares of Micron Technology in a research report on Thursday, September 26th. Raymond James boosted their price target on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Thursday, September 26th. Finally, China Renaissance started coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is owned by corporate insiders.

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.