Empowered Funds LLC Buys 5,240 Shares of Micron Technology, Inc. $MU

Key Points

• Empowered Funds LLC increased its stake in Micron Technology by 8.5%, acquiring an additional 5,240 shares and bringing their total holdings to 66,604 shares valued at $5.79 million.
• Insider selling saw CFO Mark J. Murphy and CEO Sanjay Mehrotra offload 34,000 and 7,500 shares, respectively, reflecting a decrease in their ownership by 11.41% and 2.03%.
• Wall Street analysts express optimism, with a consensus target price of $151.76 for Micron Technology, and some brokerages issuing buy ratings with price objectives as high as $200.

Empowered Funds LLC lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 8.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,604 shares of the semiconductor manufacturer's stock after buying an additional 5,240 shares during the quarter. Empowered Funds LLC's holdings in Micron Technology were worth $5,787,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MU. Nuveen LLC bought a new position in Micron Technology in the first quarter valued at approximately $369,191,000. Vanguard Group Inc. lifted its stake in Micron Technology by 2.1% in the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after buying an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after buying an additional 2,038,641 shares in the last quarter. GAMMA Investing LLC lifted its stake in Micron Technology by 10,369.6% in the first quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer's stock valued at $162,783,000 after buying an additional 1,855,541 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Micron Technology by 26.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after buying an additional 1,416,174 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. TD Cowen lifted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Arete Research raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Micron Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $150.00 price target on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price target on shares of Micron Technology in a research note on Monday, August 11th. Finally, Raymond James Financial boosted their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $151.76.

Insider Activity

In other news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were 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. The trade was a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 275,946 shares of company stock valued at $33,962,819. 0.30% of the stock is owned by corporate insiders.

Micron Technology Stock Performance

NASDAQ MU traded up $6.66 on Friday, hitting $157.23. 32,223,879 shares of the stock were exchanged, compared to its average volume of 18,134,322. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The business's fifty day moving average is $119.23 and its 200 day moving average is $102.77. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $158.28. The company has a market capitalization of $175.96 billion, a PE ratio of 28.33 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio is 8.29%.

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.