Empirical Asset Management LLC Invests $4.39 Million in Micron Technology, Inc. (NASDAQ:MU)

Empirical Asset Management LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 52,212 shares of the semiconductor manufacturer's stock, valued at approximately $4,394,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Highline Wealth Partners LLC purchased a new stake in Micron Technology during the third quarter valued at approximately $26,000. Davis Capital Management bought a new stake in shares of Micron Technology during the 3rd quarter valued at $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Micron Technology in the 2nd quarter worth $39,000. Stone House Investment Management LLC increased its stake in shares of Micron Technology by 602.2% in the 3rd quarter. Stone House Investment Management LLC now owns 323 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 277 shares in the last quarter. Finally, True Wealth Design LLC raised its holdings in Micron Technology by 1,096.3% in the 3rd quarter. True Wealth Design LLC now owns 323 shares of the semiconductor manufacturer's stock worth $33,000 after purchasing an additional 296 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird cut 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. Raymond James boosted their price objective on Micron Technology from $125.00 to $140.00 and gave the company an "outperform" rating in a research note on Thursday, September 26th. Sanford C. Bernstein decreased their target price on shares of Micron Technology from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. Rosenblatt Securities reaffirmed a "buy" rating and set a $250.00 price target on shares of Micron Technology in a report on Wednesday, December 18th. Finally, Cantor Fitzgerald reduced their price objective on shares of Micron Technology from $150.00 to $130.00 and set an "overweight" rating for the company in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus price target of $135.24.

Insider Activity

In related news, EVP April S. Arnzen sold 4,890 shares of the 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 directly owns 181,223 shares of the company's stock, valued at $15,442,011.83. This represents a 2.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Micron Technology stock traded up $3.15 during mid-day trading on Friday, reaching $105.75. 18,832,956 shares of the company's stock traded hands, compared to its average volume of 26,435,701. Micron Technology, Inc. has a 12-month low of $79.15 and a 12-month high of $157.54. The company has a market cap of $117.82 billion, a price-to-earnings ratio of 30.48 and a beta of 1.18. The stock has a 50 day moving average of $98.00 and a two-hundred day moving average of $102.66. The company has a quick ratio of 1.75, a current ratio of 2.72 and a debt-to-equity ratio of 0.28.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.71 billion. During the same quarter last year, the firm earned ($0.95) EPS. The firm's revenue for the quarter was up 84.3% compared to the same quarter last year. Equities analysts forecast that Micron Technology, Inc. will post 6.25 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date was Monday, December 30th. Micron Technology's dividend payout ratio (DPR) is 13.26%.

Micron Technology 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.