Empowered Funds LLC Sells 22,464 Shares of Micron Technology, Inc. (NASDAQ:MU)

Empowered Funds LLC lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 29.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Capital World Investors lifted its stake in shares of Micron Technology by 6.6% during the first quarter. Capital World Investors now owns 22,748,381 shares of the semiconductor manufacturer's stock valued at $2,681,807,000 after acquiring an additional 1,400,154 shares during the period. Capital International Investors lifted its stake in shares of Micron Technology by 15.1% during the first quarter. Capital International Investors now owns 18,303,506 shares of the semiconductor manufacturer's stock valued at $2,157,800,000 after acquiring an additional 2,397,885 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Micron Technology by 22.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 18,243,633 shares of the semiconductor manufacturer's stock valued at $2,150,743,000 after purchasing an additional 3,315,988 shares during the last quarter. Van ECK Associates Corp increased its holdings in Micron Technology by 30.6% in the third 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 increased its holdings in Micron Technology by 1.4% in the first 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 during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm's stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. Raymond James upped their price objective on Micron Technology from $125.00 to $140.00 and gave the company an "outperform" 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 for the company in a report on Thursday, September 19th. UBS Group dropped their price objective on Micron Technology from $153.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, September 17th. Bank of America upped their price objective on Micron Technology from $110.00 to $125.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, Wells Fargo & Company dropped their price objective on Micron Technology from $190.00 to $175.00 and set an "overweight" rating for the company in a report on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twenty-six have given a buy rating to the company's stock. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and a consensus target price of $143.04.

Micron Technology Stock Down 2.9 %

NASDAQ MU traded down $2.84 during trading hours on Friday, hitting $96.34. 18,518,298 shares of the company traded hands, compared to its average volume of 15,461,400. The business's 50-day moving average is $101.33 and its 200-day moving average is $112.74. Micron Technology, Inc. has a twelve month low of $72.93 and a twelve month high of $157.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.64. The stock has a market capitalization of $106.82 billion, a price-to-earnings ratio of 141.68 and a beta of 1.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 EPS for the quarter, beating the consensus estimate of $0.97 by $0.21. Micron Technology had a return on equity of 1.58% and a net margin of 3.10%. The firm had revenue of $7.75 billion during the quarter, compared to analysts' expectations of $7.65 billion. During the same period in the prior year, the firm posted ($1.21) earnings per share. The business's quarterly revenue was up 93.3% compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 8.31 earnings per share for the current year.

Micron Technology Announces Dividend

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

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.