Empirical Financial Services LLC d.b.a. Empirical Wealth Management Grows Position in Micron Technology, Inc. (NASDAQ:MU)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 18.8% during the fourth quarter, HoldingsChannel reports. The firm owned 5,075 shares of the semiconductor manufacturer’s stock after purchasing an additional 802 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Micron Technology were worth $427,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of MU. Ascent Group LLC lifted its stake in shares of Micron Technology by 4.2% during the 2nd quarter. Ascent Group LLC now owns 3,306 shares of the semiconductor manufacturer’s stock worth $435,000 after purchasing an additional 133 shares during the last quarter. Quarry LP lifted its position in shares of Micron Technology by 130.5% during the second quarter. Quarry LP now owns 604 shares of the semiconductor manufacturer’s stock valued at $79,000 after buying an additional 342 shares during the last quarter. EP Wealth Advisors LLC boosted its holdings in shares of Micron Technology by 43.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 16,686 shares of the semiconductor manufacturer’s stock valued at $2,195,000 after buying an additional 5,024 shares in the last quarter. Truist Financial Corp grew its position in shares of Micron Technology by 16.4% in the 2nd quarter. Truist Financial Corp now owns 143,215 shares of the semiconductor manufacturer’s stock worth $18,837,000 after buying an additional 20,209 shares during the last quarter. Finally, Cetera Investment Advisers raised its stake in shares of Micron Technology by 30.8% during the 2nd quarter. Cetera Investment Advisers now owns 253,256 shares of the semiconductor manufacturer’s stock worth $33,311,000 after acquiring an additional 59,707 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 0.9 %

Micron Technology stock opened at $89.04 on Thursday. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. The firm has a market cap of $99.21 billion, a PE ratio of 25.66 and a beta of 1.18. The stock’s 50 day simple moving average is $98.04 and its two-hundred day simple moving average is $100.48. Micron Technology, Inc. has a 12 month low of $79.15 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for 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 firm’s 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. Analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.52%. Micron Technology’s payout ratio is 13.26%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MU. China Renaissance initiated coverage on shares of Micron Technology in a report on Monday, October 28th. They issued a “buy” rating and a $148.00 price target on the stock. Wedbush restated an “outperform” rating and set a $140.00 target price on shares of Micron Technology in a research note on Tuesday, December 17th. Sanford C. Bernstein decreased their price target on Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Stifel Nicolaus dropped their price target on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Micron Technology from $180.00 to $145.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, Micron Technology presently has a consensus rating of “Moderate Buy” and a consensus price target of $134.96.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the transaction, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.30% of the stock is currently owned by company 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.