Empower Advisory Group LLC Has $240,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

Empower Advisory Group LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.9% in the fourth quarter, Holdings Channel reports. The firm owned 2,846 shares of the semiconductor manufacturer’s stock after buying an additional 158 shares during the quarter. Empower Advisory Group LLC’s holdings in Micron Technology were worth $240,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. 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 grew its stake in Micron Technology by 602.2% in the third 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 grew its stake in Micron Technology by 1,096.3% in the third quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer’s stock valued at $33,000 after acquiring an additional 296 shares during the period. DT Investment Partners LLC grew its stake in Micron Technology by 261.1% in the third quarter. DT Investment Partners LLC now owns 325 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 235 shares during the period. Finally, Beacon Capital Management LLC grew its stake in Micron Technology by 114.9% in the fourth quarter. Beacon Capital Management LLC now owns 374 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 200 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Morgan Stanley decreased their target price on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 28th. Sanford C. Bernstein decreased their target price 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. China Renaissance initiated coverage on Micron Technology in a research report on Monday, October 28th. They set a “buy” rating and a $148.00 price objective for the company. Bank of America cut Micron Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $125.00 to $110.00 in a research report on Thursday, December 19th. Finally, JPMorgan Chase & Co. reduced their price objective on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a research report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Insider Transactions at Micron Technology

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 approximately $15,442,011.83. This trade 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 is accessible through this link. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

NASDAQ:MU opened at $104.36 on Thursday. 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’s 50 day moving average price is $96.25 and its two-hundred day moving average price is $98.67. The firm has a market capitalization of $116.27 billion, a price-to-earnings ratio of 30.07 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.

Micron Technology (NASDAQ:MU) last announced 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 company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The firm’s quarterly revenue was up 84.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.95) earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 6.21 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.44%. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

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.