Empowered Funds LLC Boosts Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Empowered Funds LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,598 shares of the semiconductor manufacturer’s stock after purchasing an additional 656 shares during the period. Empowered Funds LLC’s holdings in Micron Technology were worth $4,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of MU. AIA Group Ltd lifted its position in shares of Micron Technology by 2.1% during the 1st quarter. AIA Group Ltd now owns 4,821 shares of the semiconductor manufacturer’s stock valued at $568,000 after buying an additional 101 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Micron Technology by 153.5% during the 1st quarter. Quantbot Technologies LP now owns 72,163 shares of the semiconductor manufacturer’s stock valued at $8,507,000 after buying an additional 43,701 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of Micron Technology by 4.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 60,458 shares of the semiconductor manufacturer’s stock valued at $7,127,000 after buying an additional 2,383 shares during the last quarter. Empirical Finance LLC lifted its position in shares of Micron Technology by 3.5% during the 1st quarter. Empirical Finance LLC now owns 39,659 shares of the semiconductor manufacturer’s stock valued at $4,675,000 after buying an additional 1,338 shares during the last quarter. Finally, Manchester Capital Management LLC lifted its position in shares of Micron Technology by 5.2% during the 1st quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after buying an additional 104 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.5 %

Shares of Micron Technology stock opened at $133.55 on Friday. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The business’s 50 day simple moving average is $132.22 and its two-hundred day simple moving average is $109.77. Micron Technology, Inc. has a one year low of $61.75 and a one year high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The business’s quarterly revenue was up 81.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.57) EPS. Analysts anticipate that Micron Technology, Inc. will post 0.58 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 23rd. Shareholders of record on Monday, July 8th will be paid a $0.115 dividend. The ex-dividend date is Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a yield of 0.34%. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now directly owns 142,321 shares in the company, valued at approximately $19,335,731.06. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $119.18, for a total transaction of $6,354,320.06. Following the sale, the executive vice president now directly owns 319,119 shares in the company, valued at $38,032,602.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the executive vice president now owns 142,321 shares in the company, valued at $19,335,731.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,730 shares of company stock worth $31,063,449. 0.32% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Thursday, March 21st. KeyCorp increased their price objective on Micron Technology from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Rosenblatt Securities restated a “buy” rating and issued a $225.00 target price on shares of Micron Technology in a research note on Tuesday, June 25th. Wells Fargo & Company upped their target price on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Wedbush restated an “outperform” rating and issued a $170.00 target price on shares of Micron Technology in a research note on Thursday, June 27th. Two analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.72.

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.