Micron Technology, Inc. (NASDAQ:MU) Shares Sold by Empirical Finance LLC

Empirical Finance LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in shares of Micron Technology by 13.2% in the fourth quarter. Empowered Funds LLC now owns 61,364 shares of the semiconductor manufacturer’s stock worth $5,164,000 after buying an additional 7,176 shares during the last quarter. Kingsview Wealth Management LLC increased its position in shares of Micron Technology by 7.3% in the 4th quarter. Kingsview Wealth Management LLC now owns 4,867 shares of the semiconductor manufacturer’s stock valued at $410,000 after acquiring an additional 330 shares during the period. Apollon Wealth Management LLC raised its stake in Micron Technology by 1.1% in the 4th quarter. Apollon Wealth Management LLC now owns 24,716 shares of the semiconductor manufacturer’s stock worth $2,080,000 after acquiring an additional 271 shares during the last quarter. Shepherd Financial Partners LLC acquired a new stake in Micron Technology during the 4th quarter worth about $223,000. Finally, EULAV Asset Management lifted its position in Micron Technology by 80.0% during the fourth quarter. EULAV Asset Management now owns 90,000 shares of the semiconductor manufacturer’s stock valued at $7,574,000 after purchasing an additional 40,000 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the company’s 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 completion of the transaction, the executive vice president now directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $92.30 on Friday. Micron Technology, Inc. has a one year low of $79.15 and a one year high of $157.54. The business’s 50-day moving average price is $96.63 and its two-hundred day moving average price is $99.15. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The company has a market capitalization of $102.84 billion, a P/E ratio of 26.60 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping the consensus estimate of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same period in the previous year, the firm posted ($0.95) earnings per share. The company’s revenue for the quarter was up 84.3% compared to the same quarter last year. Analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.115 per share. 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 0.50%. Micron Technology’s payout ratio is currently 13.26%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on MU shares. Robert W. Baird reduced their price target on Micron Technology from $150.00 to $130.00 and set an “outperform” rating for the company in a report on Thursday, December 19th. Stifel Nicolaus decreased their price objective on shares of 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 cut their target price on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler lowered their price objective on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a report on Thursday, December 19th. Finally, Wedbush restated an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research report on Tuesday, December 17th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $134.96.

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.