Micron Technology, Inc. (NASDAQ:MU) Stock Position Raised by Empire Life Investments Inc.

Empire Life Investments Inc. lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 2.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 113,294 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,245 shares during the quarter. Empire Life Investments Inc.’s holdings in Micron Technology were worth $9,535,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in MU. Exchange Traded Concepts LLC lifted its position in shares of Micron Technology by 219.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 5,290 shares of the semiconductor manufacturer’s stock valued at $549,000 after acquiring an additional 3,635 shares in the last quarter. Creative Planning lifted its position in Micron Technology by 8.1% in the 3rd quarter. Creative Planning now owns 161,774 shares of the semiconductor manufacturer’s stock worth $16,751,000 after buying an additional 12,168 shares in the last quarter. Swedbank AB lifted its position in Micron Technology by 30.4% in the 3rd quarter. Swedbank AB now owns 3,455,819 shares of the semiconductor manufacturer’s stock worth $358,403,000 after buying an additional 806,639 shares in the last quarter. Cornerstone Wealth Management LLC lifted its position in Micron Technology by 10.6% in the 3rd quarter. Cornerstone Wealth Management LLC now owns 4,296 shares of the semiconductor manufacturer’s stock worth $446,000 after buying an additional 413 shares in the last quarter. Finally, Compass Wealth Management LLC lifted its position in Micron Technology by 92.9% in the 3rd quarter. Compass Wealth Management LLC now owns 2,700 shares of the semiconductor manufacturer’s stock worth $280,000 after buying an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MU. Mizuho cut their target price on shares of Micron Technology from $135.00 to $115.00 and set an “outperform” rating for the company in a research report on Thursday, December 19th. Stifel Nicolaus cut their target price on shares of Micron Technology from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. UBS Group cut their target price on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Wells Fargo & Company reduced their price objective on shares of Micron Technology from $175.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, December 19th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $250.00 price objective on shares of Micron Technology in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $134.96.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total value of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares of the company’s stock, 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 hyperlink. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $99.52 on Friday. The firm’s 50-day moving average is $96.13 and its 200-day moving average is $98.70. Micron Technology, Inc. has a 52-week low of $79.15 and a 52-week high of $157.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.75 and a current ratio of 2.72. The company has a market cap of $110.88 billion, a price-to-earnings ratio of 28.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (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 for the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter in the previous year, the firm posted ($0.95) EPS. The business’s revenue was up 84.3% compared to the same quarter last year. Equities research analysts anticipate that Micron Technology, Inc. will post 6.29 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.115 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.46 dividend on an annualized basis and a yield of 0.46%. Micron Technology’s payout ratio is currently 13.26%.

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.