Empower Advisory Group LLC Buys 158 Shares of Micron Technology, Inc. (NASDAQ:MU)

Empower Advisory Group LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU) by 5.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,846 shares of the semiconductor manufacturer’s stock after acquiring an additional 158 shares during the period. Empower Advisory Group LLC’s holdings in Micron Technology were worth $240,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Swedbank AB grew its holdings in Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock valued at $358,403,000 after buying an additional 806,639 shares during the last quarter. OLD National Bancorp IN grew its holdings in Micron Technology by 26.7% in the 3rd quarter. OLD National Bancorp IN now owns 4,721 shares of the semiconductor manufacturer’s stock valued at $490,000 after buying an additional 995 shares during the last quarter. Whittier Trust Co. grew its holdings in Micron Technology by 22.4% in the 3rd quarter. Whittier Trust Co. now owns 1,481 shares of the semiconductor manufacturer’s stock valued at $154,000 after buying an additional 271 shares during the last quarter. Raleigh Capital Management Inc. grew its holdings in Micron Technology by 107.8% in the 3rd quarter. Raleigh Capital Management Inc. now owns 1,168 shares of the semiconductor manufacturer’s stock valued at $121,000 after buying an additional 606 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its holdings in Micron Technology by 2.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 35,999 shares of the semiconductor manufacturer’s stock valued at $3,734,000 after buying an additional 960 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Down 2.3 %

Shares of MU opened at $104.36 on Thursday. The stock has a fifty day moving average price of $96.25 and a two-hundred day moving average price of $98.67. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a market cap of $116.27 billion, a price-to-earnings ratio of 30.07 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.19. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. Micron Technology had a return on equity of 8.32% and a net margin of 13.34%. The business’s revenue for the quarter was up 84.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) EPS. Analysts predict that Micron Technology, Inc. will post 6.21 EPS for the current fiscal 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 given 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 payout ratio is currently 13.26%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. The trade was a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have issued reports on MU shares. Stifel Nicolaus lowered their target price on Micron Technology from $135.00 to $130.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Needham & Company LLC decreased their price objective on Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Mizuho decreased their price objective on Micron Technology from $135.00 to $115.00 and set an “outperform” rating on the stock in a report on Thursday, December 19th. Morgan Stanley decreased their price objective on Micron Technology from $98.00 to $91.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 28th. Finally, TD Cowen decreased their price objective on Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $134.96.

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.