Empirical Finance LLC Has $3.14 Million Position in Micron Technology, Inc. (NASDAQ:MU)

Empirical Finance LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 37,356 shares of the semiconductor manufacturer’s stock after selling 487 shares during the quarter. Empirical Finance LLC’s holdings in Micron Technology were worth $3,144,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MU. Highline Wealth Partners LLC acquired a new position in Micron Technology in the third quarter valued at about $26,000. Stone House Investment Management LLC raised its position in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 277 shares during the period. True Wealth Design LLC boosted its stake in Micron Technology by 1,096.3% during the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 296 shares during the last quarter. DT Investment Partners LLC grew its holdings in Micron Technology by 261.1% during the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 235 shares during the period. Finally, Darwin Wealth Management LLC bought a new stake in Micron Technology in the third quarter valued at approximately $39,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent analyst reports. Robert W. Baird lowered their price objective on shares of Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Mizuho lowered their price target on Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. The Goldman Sachs Group cut their price objective on Micron Technology from $145.00 to $128.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald lowered their target price on Micron Technology from $150.00 to $130.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Barclays cut their price target on shares of Micron Technology from $145.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, December 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Micron Technology Stock Down 2.4 %

Shares of NASDAQ:MU opened at $92.30 on Friday. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28. The stock has a market cap of $102.84 billion, a price-to-earnings ratio of 26.60 and a beta of 1.18. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The business’s 50 day moving average is $96.63 and its 200 day moving average is $99.15.

Micron Technology (NASDAQ:MU) last issued its 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 firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company’s quarterly revenue was up 84.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.95) earnings per share. On average, sell-side analysts forecast that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s payout ratio is currently 13.26%.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.30% of the stock is owned by company insiders.

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.