Empowered Funds LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU – free report ) by 1.7% during the first quarter, according to its latest disclosure with the Securities and Exchange Commission. The fund bought an additional 656 shares during the period, bringing its holdings to 39,598 shares of the semiconductor manufacturer. Empowered Funds LLC’s holdings of Micron Technology were worth $4,668,000 as of the latest SEC filing.
A number of other hedge funds and institutional investors are also buying and selling shares of MU. AIA Group increased its stake in Micron Technology by 2.1% in the first quarter. AIA Group now owns 4,821 shares of the semiconductor manufacturer worth $568,000 after purchasing an additional 101 shares last quarter. Quonbot Technologies increased its stake in Micron Technology by 153.5% in the first quarter. Quonbot Technologies purchased an additional 43,701 shares of the semiconductor manufacturer during the quarter and now owns 72,163 shares worth $8.507 million. Envestnet Portfolio Solutions increased its stake in Micron Technology by 4.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 60,458 shares of the semiconductor manufacturer’s stock valued at $7,127,000 after purchasing an additional 2,383 shares in the last quarter. Empirical Finance LLC increased its holdings in Micron Technology by 3.5% in the first quarter. Empirical Finance LLC now owns 39,659 shares of the semiconductor manufacturer’s stock valued at $4,675,000 after purchasing an additional 1,338 shares in the last quarter. Finally, Manchester Capital Management LLC increased its holdings in Micron Technology by 5.2% in the first quarter. Manchester Capital Management LLC now owns 2,119 shares of the semiconductor manufacturer’s stock valued at $250,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 80.84% ​​of the company’s shares.
Micron Technology shares up 2.5%
Micron Technology’s shares opened trading at $133.55 on Friday. The company’s quick ratio is 2.16, current ratio is 3.41 and debt-to-equity ratio is 0.29. The company’s 50-day simple moving average is $132.22 and 200-day simple moving average is $109.77. Micron Technology’s one year low is $61.75 and high is $157.54.
Micron Technology (NASDAQ:MU – get free report ) released its quarterly earnings report on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. Quarterly revenues from the business were $6.81 billion, compared to analysts’ expectations of $6.67 billion. Micron Technology had a negative ROE of -4.01% and a negative net margin of -7.20%. Quarterly revenues from the business grew 81.5% year over year. Year-over-year EPS was ($1.57). Analysts expect Micron Technology, Inc. to post EPS of $0.58 for the current year.
Micron Technology announces dividend
The company also recently declared a quarterly dividend, which is scheduled to be paid on Tuesday, July 23rd. Shareholders of record as of Monday, July 8th will be paid a dividend of $0.115. The ex-dividend date is Monday, July 8th. This equates to a dividend of $0.46 on an annualized basis, or a yield of 0.34%. Micron Technology’s Dividend Payout Ratio (DPR) is currently at -32.39%.
Insider Trading at Micron Technology
In other news, Executive VP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the sale, the Executive VP now directly owns 142,321 shares of the company’s stock, valued at approximately $19,335,731.06. The sale was disclosed in a SEC filing, which is available at this link. In related news, Executive VP Manish H. Bhatia sold 53,317 shares of Micron Technology stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $119.18, for a total value of $6,354,320.06. Following the sale, the Executive Vice President now directly owns 319,119 shares of the company’s stock, valued at $38,032,602.42. The transaction was disclosed in a filing with the Securities and Exchange Commission, available to view on the SEC’s website. Additionally, Executive Vice President, April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following this sale, the Executive Vice President now owns 142,321 shares of the company’s stock, valued at $19,335,731.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 250,730 shares of the company’s stock, valued at $31,063,449.0.32% of the stock is currently owned by insiders.
Analyst upgrades and downgrades
Several research analysts have recently commented on the company. Argus raised Micron Technology from a “hold” rating to a “buy” rating and set a $140.00 price objective in a research report on Thursday, March 21st. KeyCorp raised their price objective on Micron Technology from $160.00 to $165.00 and gave the stock an “overweight” rating in a report on Tuesday, July 9th. Rosenblatt Securities reaffirmed their “buy” rating on shares of Micron Technology with a $225.00 price objective in a research note on Tuesday, June 25th. Wells Fargo & Company raised their price objective on Micron Technology from $135.00 to $190.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $170.00 price target on shares of Micron Technology in a research note on Thursday, June 27th. Two analysts have rated the stock with a hold rating and 25 have issued a buy rating to the company. According to data from MarketBeat.com, the company’s stock currently has an average rating of a “moderate buy” with a consensus target price of $158.72.
Check out our latest analysis for Micron Technology
Micron Technology Profile
(Free report)
Micron Technology, Inc. designs, develops, manufactures and sells memory and storage products worldwide. The company operates through four segments: Computing and Networking, Mobile, Embedded and Storage. The company offers memory and storage technologies under the Micron and Crucial brands, as well as private labels, including dynamic random access memory semiconductor devices that provide low latency and fast data retrieval, nonvolatile rewriteable semiconductor storage devices and nonvolatile rewriteable semiconductor memory devices that provide fast read speeds.
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