Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 14,360 Shares of Micron Technology, Inc. $MU

Key Points

• Empirical Wealth Management increased its stake in Micron Technology by 449.2% during the second quarter, acquiring an additional 14,360 shares, bringing their total holdings to 17,557 shares valued at approximately $2.16 million.
• Institutional investors now own 80.84% of Micron Technology's stock, with several large investors recently increasing their holdings in the company.
• Micron Technology recently announced a quarterly dividend of $0.115 per share, which will be distributed on October 21st, representing an annual yield of 0.2%.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 449.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,557 shares of the semiconductor manufacturer's stock after acquiring an additional 14,360 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Micron Technology were worth $2,164,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in MU. Opal Wealth Advisors LLC bought a new stake in Micron Technology in the first quarter valued at $33,000. AllSquare Wealth Management LLC boosted its holdings in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in Micron Technology in the first quarter valued at $36,000. Hilltop National Bank bought a new stake in Micron Technology in the second quarter valued at $37,000. Finally, Saudi Central Bank bought a new stake in Micron Technology in the first quarter valued at $38,000. Institutional investors own 80.84% of the company's stock.

Insider Activity

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the transaction, the director directly owned 20,146 shares in the company, valued at $2,330,287.82. This trade represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the sale, the chief financial officer owned 264,036 shares of the company's stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,456 shares of company stock valued at $15,698,445. 0.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Summit Insights raised Micron Technology to a "strong-buy" rating in a research report on Tuesday, September 23rd. Morgan Stanley raised their price objective on Micron Technology from $135.00 to $160.00 and gave the company an "equal weight" rating in a research report on Monday, September 22nd. Rosenblatt Securities raised their price objective on Micron Technology from $200.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, September 24th. Cantor Fitzgerald raised their price objective on Micron Technology from $185.00 to $200.00 and gave the company an "overweight" rating in a research report on Wednesday, September 24th. Finally, Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Four equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $184.77.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $187.83 on Friday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $191.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The business has a fifty day moving average price of $134.89 and a 200-day moving average price of $110.70. The company has a market capitalization of $210.20 billion, a PE ratio of 24.75, a PEG ratio of 0.40 and a beta of 1.56.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. The ex-dividend date is Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology's dividend payout ratio (DPR) is presently 6.06%.

About Micron Technology

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.

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