32,901 Shares in Micron Technology, Inc. (MU) Purchased by Empirical Finance LLC

Empirical Finance LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 32,901 shares of the semiconductor manufacturer’s stock, valued at approximately $1,488,000.

A number of other institutional investors also recently modified their holdings of MU. Iron Financial LLC acquired a new stake in shares of Micron Technology in the third quarter worth $328,000. IMA Wealth Inc. increased its stake in shares of Micron Technology by 12.2% in the third quarter. IMA Wealth Inc. now owns 51,459 shares of the semiconductor manufacturer’s stock worth $2,327,000 after acquiring an additional 5,576 shares during the period. Aperio Group LLC increased its stake in shares of Micron Technology by 2.8% in the third quarter. Aperio Group LLC now owns 956,541 shares of the semiconductor manufacturer’s stock worth $43,264,000 after acquiring an additional 26,386 shares during the period. Highland Capital Management LLC increased its stake in shares of Micron Technology by 92.6% in the third quarter. Highland Capital Management LLC now owns 131,210 shares of the semiconductor manufacturer’s stock worth $5,935,000 after acquiring an additional 63,076 shares during the period. Finally, Foundry Partners LLC acquired a new stake in shares of Micron Technology in the third quarter worth $4,023,000. Institutional investors and hedge funds own 74.05% of the company’s stock.

MU stock traded down $1.01 during midday trading on Thursday, hitting $41.34. 2,085,785 shares of the stock traded hands, compared to its average volume of 45,871,258. The company has a debt-to-equity ratio of 0.20, a quick ratio of 2.06 and a current ratio of 2.63. The firm has a market cap of $52.46 billion, a PE ratio of 3.56, a P/E/G ratio of 0.69 and a beta of 1.55. Micron Technology, Inc. has a 1-year low of $37.52 and a 1-year high of $64.66.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Thursday, September 20th. The semiconductor manufacturer reported $3.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.33 by $0.20. The business had revenue of $8.44 billion for the quarter, compared to the consensus estimate of $8.25 billion. Micron Technology had a net margin of 46.51% and a return on equity of 54.94%. The company’s revenue was up 37.5% compared to the same quarter last year. During the same period last year, the firm posted $2.02 earnings per share. Research analysts predict that Micron Technology, Inc. will post 10.4 earnings per share for the current fiscal year.

MU has been the topic of a number of research reports. Rosenblatt Securities increased their price objective on shares of Micron Technology to $120.00 in a research note on Thursday, June 21st. Stifel Nicolaus increased their price objective on shares of Micron Technology to $108.00 and gave the stock a “buy” rating in a research note on Thursday, June 21st. MKM Partners increased their price objective on shares of Micron Technology to $77.00 and gave the stock a “buy” rating in a research note on Thursday, June 21st. JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $82.00 to $84.00 and gave the stock a “buy” rating in a research note on Thursday, June 21st. Finally, Credit Suisse Group set a $90.00 price objective on shares of Micron Technology and gave the stock a “buy” rating in a research note on Thursday, June 21st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. Micron Technology currently has an average rating of “Buy” and an average price target of $68.42.

In other Micron Technology news, SVP Steven L. Thorsen, Jr. sold 40,000 shares of the stock in a transaction on Friday, July 20th. The shares were sold at an average price of $55.09, for a total transaction of $2,203,600.00. Following the transaction, the senior vice president now directly owns 126,990 shares of the company’s stock, valued at $6,995,879.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

Micron Technology Company Profile

Micron Technology, Inc provides semiconductor systems worldwide. The company operates through four segments: Compute and Networking Business Unit, Storage Business Unit, Mobile Business Unit, and Embedded Business Unit. It offers DDR3 and DDR4 DRAM products for computers, servers, networking devices, communications equipment, consumer electronics, automotive, and industrial applications; lower power DRAM products for smartphones, tablets, automotive, laptop computers, and other mobile consumer device applications; DDR2 DRAM and DDR DRAM, GDDR5 and GDDR5X DRAM, SDRAM, and RLDRAM products for networking devices, servers, consumer electronics, communications equipment, computer peripherals, and automotive and industrial applications, as well as for computer memory upgrades; and hybrid memory cube semiconductor memory devices.

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Institutional Ownership by Quarter for Micron Technology (NASDAQ:MU)

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