Micron Technology, Inc. (NASDAQ:MU) Holdings Raised by Empirical Finance LLC

Empirical Finance LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 37,843 shares of the semiconductor manufacturer’s stock after acquiring an additional 825 shares during the period. Empirical Finance LLC’s holdings in Micron Technology were worth $3,925,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MU. Chartwell Investment Partners LLC grew its position in Micron Technology by 26.4% in the third quarter. Chartwell Investment Partners LLC now owns 195,115 shares of the semiconductor manufacturer’s stock worth $20,236,000 after acquiring an additional 40,802 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Micron Technology by 1.1% in the first quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after purchasing an additional 20,741 shares in the last quarter. Global X Japan Co. Ltd. increased its position in Micron Technology by 23.1% during the third quarter. Global X Japan Co. Ltd. now owns 51,832 shares of the semiconductor manufacturer’s stock worth $5,375,000 after buying an additional 9,735 shares during the last quarter. River Road Asset Management LLC raised its holdings in Micron Technology by 9.1% during the third quarter. River Road Asset Management LLC now owns 163,272 shares of the semiconductor manufacturer’s stock valued at $16,933,000 after buying an additional 13,573 shares in the last quarter. Finally, RWQ Financial Management Services Inc. acquired a new stake in shares of Micron Technology in the third quarter worth about $1,270,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Stock Down 0.9 %

Shares of NASDAQ:MU opened at $98.28 on Friday. The company has a quick ratio of 1.68, a current ratio of 2.64 and a debt-to-equity ratio of 0.29. The firm has a market cap of $108.97 billion, a P/E ratio of 145.86 and a beta of 1.18. The company’s 50-day moving average price is $100.93 and its two-hundred day moving average price is $112.94. Micron Technology, Inc. has a 12 month low of $72.93 and a 12 month high of $157.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.21. The firm had revenue of $7.75 billion for the quarter, compared to analyst estimates of $7.65 billion. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The business’s quarterly revenue was up 93.3% compared to the same quarter last year. During the same period last year, the company earned ($1.21) EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Monday, October 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, October 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.47%. Micron Technology’s payout ratio is presently 67.65%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MU. BNP Paribas lowered Micron Technology from an “outperform” rating to an “underperform” rating and lowered their price objective for the company from $140.00 to $67.00 in a report on Thursday, September 12th. Morgan Stanley lifted their price target on shares of Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a research report on Thursday, September 26th. Susquehanna dropped their target price on shares of Micron Technology from $175.00 to $165.00 and set a “positive” rating on the stock in a report on Thursday, September 26th. Rosenblatt Securities lifted their price objective on Micron Technology from $225.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, Wells Fargo & Company dropped their target price on shares of Micron Technology from $190.00 to $175.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $143.04.

Insider Activity

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at approximately $15,348,790. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

About Micron Technology

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.