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

Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 449.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 17,557 shares of the semiconductor manufacturer’s stock after purchasing 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 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology in the first quarter worth approximately $33,000. AllSquare Wealth Management LLC increased its holdings in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer’s stock valued at $35,000 after buying an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology during the first quarter valued at approximately $36,000. Hilltop National Bank purchased a new stake in Micron Technology during the second quarter valued at approximately $37,000. Finally, Saudi Central Bank purchased a new stake in Micron Technology during the first quarter valued at approximately $38,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 2.2%

NASDAQ MU opened at $187.83 on Friday. The stock’s 50 day moving average is $134.89 and its 200 day moving average is $110.70. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $191.85. The stock has a market cap of $210.20 billion, a PE ratio of 24.75, a P/E/G ratio of 0.40 and a beta of 1.56.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s payout ratio is currently 6.06%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on MU shares. Needham & Company LLC upped their target price on shares of Micron Technology from $150.00 to $200.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Susquehanna upped their target price on shares of Micron Technology from $160.00 to $200.00 and gave the company a “positive” rating in a report on Wednesday, September 17th. UBS Group upped their target price on shares of Micron Technology from $185.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Barclays boosted their price objective on Micron Technology from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Finally, Wells Fargo & Company boosted their price objective on Micron Technology from $170.00 to $220.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.77.

Insider Buying and Selling

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the transaction, the director directly owned 20,146 shares of the company’s stock, valued at approximately $2,330,287.82. The trade was a 10.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the transaction, the executive vice president directly owned 131,580 shares in the company, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,456 shares of company stock worth $15,698,445 in the last quarter. 0.30% of the stock is owned by insiders.

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.