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

Brookstone Capital Management trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MUGet Rating) by 6.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in Micron Technology by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 90,507,938 shares of the semiconductor manufacturer’s stock worth $7,049,663,000 after acquiring an additional 1,037,418 shares during the last quarter. State Street Corp boosted its holdings in shares of Micron Technology by 2.4% in the 4th quarter. State Street Corp now owns 47,336,782 shares of the semiconductor manufacturer’s stock valued at $4,414,090,000 after buying an additional 1,104,114 shares during the last quarter. Sanders Capital LLC boosted its holdings in shares of Micron Technology by 1.6% in the 1st quarter. Sanders Capital LLC now owns 41,921,490 shares of the semiconductor manufacturer’s stock valued at $3,551,295,000 after buying an additional 646,950 shares during the last quarter. Capital World Investors boosted its holdings in shares of Micron Technology by 28.8% in the 1st quarter. Capital World Investors now owns 35,314,215 shares of the semiconductor manufacturer’s stock valued at $2,750,624,000 after buying an additional 7,894,757 shares during the last quarter. Finally, Capital Research Global Investors boosted its holdings in shares of Micron Technology by 28.6% in the 1st quarter. Capital Research Global Investors now owns 33,193,160 shares of the semiconductor manufacturer’s stock valued at $2,585,436,000 after buying an additional 7,380,205 shares during the last quarter. 79.66% of the stock is owned by institutional investors.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $50.10 on Thursday. The company has a current ratio of 3.24, a quick ratio of 2.44 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $55.27 billion, a PE ratio of 5.71, a price-to-earnings-growth ratio of 3.02 and a beta of 1.30. The business’s 50-day moving average price is $59.13 and its 200-day moving average price is $65.50. Micron Technology, Inc. has a 12 month low of $49.72 and a 12 month high of $98.45.

Micron Technology (NASDAQ:MUGet Rating) last posted its quarterly earnings results on Thursday, June 30th. The semiconductor manufacturer reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.33 by $0.17. Micron Technology had a return on equity of 21.91% and a net margin of 30.61%. The business had revenue of $8.64 billion for the quarter, compared to analyst estimates of $8.66 billion. During the same period last year, the company earned $1.81 EPS. Micron Technology’s revenue for the quarter was up 16.4% compared to the same quarter last year. Sell-side analysts forecast that Micron Technology, Inc. will post 7.9 EPS for the current fiscal year.

Micron Technology Increases Dividend

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

Insider Transactions at Micron Technology

In other Micron Technology news, SVP Michael W. Bokan sold 16,600 shares of Micron Technology stock in a transaction on Tuesday, August 16th. The stock was 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 owns 119,126 shares in the company, valued at $7,602,621.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MU. Needham & Company LLC decreased their price target on Micron Technology from $80.00 to $64.00 and set a “buy” rating on the stock in a research report on Friday, July 1st. BMO Capital Markets reduced their price objective on Micron Technology from $85.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday. The Goldman Sachs Group cut their price target on Micron Technology from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. Rosenblatt Securities cut their price target on Micron Technology from $165.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, July 1st. Finally, StockNews.com lowered Micron Technology from a “buy” rating to a “hold” rating in a research note on Friday, September 16th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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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