Empowered Funds LLC Trims Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

Empowered Funds LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,188 shares of the semiconductor manufacturer’s stock after selling 22,464 shares during the quarter. Empowered Funds LLC’s holdings in Micron Technology were worth $5,620,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MU. Capital World Investors grew its stake in Micron Technology by 6.6% during the 1st quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer’s stock worth $2,681,807,000 after purchasing an additional 1,400,154 shares in the last quarter. Capital International Investors lifted its stake in Micron Technology by 15.1% in the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer’s stock worth $2,157,800,000 after acquiring an additional 2,397,885 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Micron Technology by 22.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer’s stock worth $2,150,743,000 after acquiring an additional 3,315,988 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Micron Technology by 30.6% in the 3rd quarter. Van ECK Associates Corp now owns 10,564,198 shares of the semiconductor manufacturer’s stock valued at $1,109,769,000 after purchasing an additional 2,477,985 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of Micron Technology by 1.4% in the 1st quarter. Boston Partners now owns 4,536,283 shares of the semiconductor manufacturer’s stock valued at $534,189,000 after purchasing an additional 61,127 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

MU opened at $96.34 on Friday. The company has a market capitalization of $106.82 billion, a P/E ratio of 141.68 and a beta of 1.18. The company has a 50-day moving average of $101.33 and a 200-day moving average of $112.72. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. Micron Technology, Inc. has a 1-year low of $72.93 and a 1-year high of $157.54.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The company had revenue of $7.75 billion for the quarter, compared to the consensus estimate of $7.65 billion. During the same quarter last year, the business posted ($1.21) EPS. Micron Technology’s quarterly revenue was up 93.3% compared to the same quarter last year. Equities analysts expect that Micron Technology, Inc. will post 8.31 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th were issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.48%. The ex-dividend date of this dividend was Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is presently 67.65%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction on Thursday, September 26th. The stock was sold at an average price of $113.00, for a total value of $552,570.00. Following the sale, the executive vice president now directly owns 135,830 shares of the company’s stock, valued at $15,348,790. This trade represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on MU shares. Morgan Stanley increased their target price on Micron Technology from $100.00 to $114.00 and gave the company an “equal weight” rating in a report on Thursday, September 26th. Stifel Nicolaus dropped their price objective on Micron Technology from $165.00 to $135.00 and set a “buy” rating on the stock in a report on Thursday, September 19th. Citigroup reduced their price objective on shares of Micron Technology from $175.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, September 17th. Raymond James lifted their price target on shares of Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, September 26th. Finally, Robert W. Baird decreased their price objective on shares of Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have assigned a buy rating to the company. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $143.04.

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.