SRS Capital Advisors Inc. Boosts Stake in Micron Technology, Inc. (NASDAQ:MU)

SRS Capital Advisors Inc. increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 19.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,512 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,197 shares during the period. SRS Capital Advisors Inc.’s holdings in Micron Technology were worth $641,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of MU. Sandy Spring Bank increased its position in shares of Micron Technology by 11.1% during the 4th quarter. Sandy Spring Bank now owns 1,305 shares of the semiconductor manufacturer’s stock valued at $111,000 after purchasing an additional 130 shares during the last quarter. HMS Capital Management LLC raised its position in Micron Technology by 0.7% in the 4th quarter. HMS Capital Management LLC now owns 19,842 shares of the semiconductor manufacturer’s stock worth $1,693,000 after purchasing an additional 138 shares during the period. Huntington National Bank lifted its stake in Micron Technology by 6.0% in the third quarter. Huntington National Bank now owns 2,652 shares of the semiconductor manufacturer’s stock worth $180,000 after purchasing an additional 149 shares during the last quarter. Allworth Financial LP boosted its position in shares of Micron Technology by 3.0% during the fourth quarter. Allworth Financial LP now owns 5,125 shares of the semiconductor manufacturer’s stock valued at $437,000 after buying an additional 150 shares during the period. Finally, Homestead Advisers Corp grew its stake in shares of Micron Technology by 12.5% during the third quarter. Homestead Advisers Corp now owns 1,372 shares of the semiconductor manufacturer’s stock valued at $93,000 after buying an additional 152 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total transaction of $574,210.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $64,685,330.71. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total value of $583,377.00. Following the sale, the executive vice president now directly owns 148,817 shares in the company, valued at approximately $17,753,868.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $82.03, for a total value of $574,210.00. Following the completion of the sale, the chief executive officer now owns 788,557 shares of the company’s stock, valued at approximately $64,685,330.71. The disclosure for this sale can be found here. Insiders have sold 323,890 shares of company stock worth $36,079,267 over the last ninety days. 0.32% of the stock is owned by insiders.

Micron Technology Stock Up 2.1 %

NASDAQ:MU traded up $2.37 during trading hours on Friday, hitting $114.70. The stock had a trading volume of 15,556,356 shares, compared to its average volume of 20,261,770. The business has a 50 day simple moving average of $108.38 and a two-hundred day simple moving average of $89.36. Micron Technology, Inc. has a 1-year low of $59.55 and a 1-year high of $130.54. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. The company has a market cap of $127.02 billion, a PE ratio of -33.25 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.69. Micron Technology had a negative return on equity of 8.98% and a negative net margin of 20.57%. The business had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.35 billion. During the same quarter in the previous year, the firm posted ($2.03) earnings per share. The company’s revenue was up 57.7% compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 0.24 EPS for the current year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, April 1st were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. KeyCorp upped their target price on shares of Micron Technology from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. Morgan Stanley increased their price objective on shares of Micron Technology from $78.00 to $98.00 and gave the company an “underweight” rating in a research report on Thursday, March 21st. TD Cowen raised their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Wedbush upped their target price on Micron Technology from $103.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $122.20.

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.