Micron Technology, Inc. (NASDAQ:MU) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 13.2% during the 4th quarter, Holdings Channel reports. The fund owned 61,364 shares of the semiconductor manufacturer’s stock after purchasing an additional 7,176 shares during the quarter. Empowered Funds LLC’s holdings in Micron Technology were worth $5,164,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of MU. Exchange Traded Concepts LLC increased its stake in shares of Micron Technology by 219.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,290 shares of the semiconductor manufacturer’s stock valued at $549,000 after purchasing an additional 3,635 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. grew its holdings in Micron Technology by 8.2% in the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 3,177 shares of the semiconductor manufacturer’s stock valued at $329,000 after purchasing an additional 242 shares during the period. ORG Wealth Partners LLC purchased a new stake in shares of Micron Technology in the third quarter valued at approximately $136,000. Creative Planning raised its stake in shares of Micron Technology by 8.1% during the 3rd quarter. Creative Planning now owns 161,774 shares of the semiconductor manufacturer’s stock worth $16,751,000 after buying an additional 12,168 shares during the period. Finally, Occidental Asset Management LLC lifted its position in shares of Micron Technology by 65.6% during the 3rd quarter. Occidental Asset Management LLC now owns 3,960 shares of the semiconductor manufacturer’s stock valued at $411,000 after buying an additional 1,569 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Down 1.9 %

Shares of Micron Technology stock opened at $94.08 on Wednesday. The stock has a 50 day moving average of $96.58 and a 200 day moving average of $98.88. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The firm has a market capitalization of $104.82 billion, a price-to-earnings ratio of 27.11 and a beta of 1.18. Micron Technology, Inc. has a fifty-two week low of $79.15 and a fifty-two week high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The company’s revenue was up 84.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.95) EPS. As a group, research analysts predict that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This represents a 2.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on MU. Rosenblatt Securities reissued a “buy” rating and issued a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Stifel Nicolaus cut their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler decreased their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC cut their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, Robert W. Baird decreased their target price on Micron Technology from $150.00 to $130.00 and set an “outperform” rating on the stock in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average price target of $134.96.

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.