Micron Technology, Inc. (MU) Holdings Reduced by Empowered Funds LLC

Empowered Funds LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 19.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,824 shares of the semiconductor manufacturer’s stock after selling 14,509 shares during the quarter. Empowered Funds LLC’s holdings in Micron Technology were worth $2,781,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. Brasada Capital Management LP boosted its stake in shares of Micron Technology by 100.0% during the first quarter. Brasada Capital Management LP now owns 2,000 shares of the semiconductor manufacturer’s stock valued at $104,000 after purchasing an additional 1,000 shares during the period. Tradewinds Capital Management LLC boosted its stake in shares of Micron Technology by 411.8% during the second quarter. Tradewinds Capital Management LLC now owns 1,996 shares of the semiconductor manufacturer’s stock valued at $105,000 after purchasing an additional 1,606 shares during the period. Credit Agricole S A boosted its stake in shares of Micron Technology by 199,900.0% during the second quarter. Credit Agricole S A now owns 2,000 shares of the semiconductor manufacturer’s stock valued at $105,000 after purchasing an additional 1,999 shares during the period. First Manhattan Co. boosted its stake in shares of Micron Technology by 211.1% during the third quarter. First Manhattan Co. now owns 2,800 shares of the semiconductor manufacturer’s stock valued at $126,000 after purchasing an additional 1,900 shares during the period. Finally, America First Investment Advisors LLC purchased a new stake in shares of Micron Technology during the second quarter valued at $131,000. 74.15% of the stock is owned by institutional investors.

A number of analysts have recently issued reports on MU shares. Benchmark started coverage on shares of Micron Technology in a research note on Friday, June 22nd. They set a “buy” rating and a $80.00 target price for the company. UBS Group raised shares of Micron Technology from a “sell” rating to a “neutral” rating and set a $35.00 target price for the company in a research note on Tuesday, June 26th. Credit Suisse Group set a $90.00 target price on shares of Micron Technology and gave the company a “buy” rating in a research note on Thursday, June 21st. JPMorgan Chase & Co. reissued an “overweight” rating and set a $84.00 target price on shares of Micron Technology in a research note on Wednesday, September 19th. Finally, Wells Fargo & Co lowered their target price on shares of Micron Technology from $70.00 to $63.00 and set an “outperform” rating for the company in a research note on Wednesday, August 15th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Micron Technology has an average rating of “Buy” and an average target price of $68.42.

NASDAQ:MU opened at $41.30 on Friday. Micron Technology, Inc. has a 1-year low of $37.52 and a 1-year high of $64.66. The stock has a market capitalization of $48.04 billion, a P/E ratio of 3.58, a price-to-earnings-growth ratio of 0.64 and a beta of 1.54. The company has a quick ratio of 2.06, a current ratio of 2.79 and a debt-to-equity ratio of 0.11.

Micron Technology (NASDAQ:MU) last announced its earnings results on Thursday, September 20th. The semiconductor manufacturer reported $3.53 EPS for the quarter, topping the Zacks’ consensus estimate of $3.33 by $0.20. The business had revenue of $8.44 billion during 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 51.68%. The firm’s revenue was up 37.5% on a year-over-year basis. During the same period in the previous year, the company posted $2.02 earnings per share. Analysts predict that Micron Technology, Inc. will post 10.37 earnings per share for the current fiscal year.

Micron Technology 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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