Micron Technology, Inc. (NASDAQ:MU) Stock Position Raised by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. lifted its position in Micron Technology, Inc. (NASDAQ:MU) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,043 shares of the semiconductor manufacturer’s stock after acquiring an additional 191 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Micron Technology were worth $593,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the company. Stonebrook Private Inc. lifted its position in Micron Technology by 4.2% in the 3rd quarter. Stonebrook Private Inc. now owns 2,454 shares of the semiconductor manufacturer’s stock worth $255,000 after buying an additional 98 shares in the last quarter. John G Ullman & Associates Inc. lifted its position in Micron Technology by 2.5% in the 3rd quarter. John G Ullman & Associates Inc. now owns 4,063 shares of the semiconductor manufacturer’s stock worth $421,000 after buying an additional 100 shares in the last quarter. Trivant Custom Portfolio Group LLC lifted its position in Micron Technology by 20.0% in the 4th quarter. Trivant Custom Portfolio Group LLC now owns 600 shares of the semiconductor manufacturer’s stock worth $50,000 after buying an additional 100 shares in the last quarter. PDS Planning Inc lifted its position in Micron Technology by 2.4% in the 3rd quarter. PDS Planning Inc now owns 4,382 shares of the semiconductor manufacturer’s stock worth $454,000 after buying an additional 104 shares in the last quarter. Finally, Xcel Wealth Management LLC lifted its position in Micron Technology by 1.8% in the 4th quarter. Xcel Wealth Management LLC now owns 6,157 shares of the semiconductor manufacturer’s stock worth $518,000 after buying an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the transaction, the executive vice president now directly owns 181,223 shares of the company’s stock, valued at approximately $15,442,011.83. This trade represents a 2.63 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research analyst reports. Sanford C. Bernstein cut their target price on shares of Micron Technology from $140.00 to $120.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. TD Cowen dropped their price target on shares of Micron Technology from $135.00 to $125.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Wedbush restated an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a research note on Tuesday, December 17th. Piper Sandler dropped their price target on shares of Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Thursday, December 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $250.00 price target on shares of Micron Technology in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and an average target price of $134.96.

Micron Technology Stock Performance

NASDAQ MU opened at $90.54 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.72 and a quick ratio of 1.75. The firm has a market capitalization of $100.88 billion, a price-to-earnings ratio of 26.09 and a beta of 1.18. The company’s fifty day moving average is $95.77 and its two-hundred day moving average is $98.75. Micron Technology, Inc. has a 52-week low of $83.54 and a 52-week high of $157.54.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.19. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The business’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period last year, the business posted ($0.95) EPS. Equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.51%. The ex-dividend date was Monday, December 30th. Micron Technology’s payout ratio is 13.26%.

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.