SRS Capital Advisors Inc. Has $641,000 Holdings in Micron Technology, Inc. (NASDAQ:MU)

SRS Capital Advisors Inc. grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 19.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,512 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,197 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Micron Technology were worth $641,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in MU. Vanguard Group Inc. increased its holdings in Micron Technology by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 94,229,187 shares of the semiconductor manufacturer’s stock worth $6,410,412,000 after purchasing an additional 305,860 shares in the last quarter. FMR LLC increased its stake in shares of Micron Technology by 47.9% in the third quarter. FMR LLC now owns 21,899,184 shares of the semiconductor manufacturer’s stock valued at $1,489,801,000 after buying an additional 7,089,790 shares during the period. Wellington Management Group LLP raised its holdings in Micron Technology by 43.4% in the 3rd quarter. Wellington Management Group LLP now owns 17,383,628 shares of the semiconductor manufacturer’s stock valued at $1,182,608,000 after buying an additional 5,257,201 shares during the last quarter. Morgan Stanley boosted its position in Micron Technology by 19.7% during the 3rd quarter. Morgan Stanley now owns 17,303,400 shares of the semiconductor manufacturer’s stock worth $1,177,151,000 after buying an additional 2,852,688 shares during the period. Finally, Northern Trust Corp grew its holdings in Micron Technology by 0.7% during the 3rd quarter. Northern Trust Corp now owns 10,833,670 shares of the semiconductor manufacturer’s stock worth $737,015,000 after acquiring an additional 80,345 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.1 %

NASDAQ MU traded up $2.37 during mid-day trading on Friday, hitting $114.70. The company’s stock had a trading volume of 15,556,356 shares, compared to its average volume of 20,261,770. The firm has a market capitalization of $127.02 billion, a price-to-earnings ratio of -33.25 and a beta of 1.27. The company’s 50 day simple moving average is $108.38 and its 200 day simple moving average is $89.36. The company has a current ratio of 3.74, a quick ratio of 2.40 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a twelve month low of $59.55 and a twelve month high of $130.54.

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

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MU shares. Needham & Company LLC raised their price target on shares of Micron Technology from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, March 21st. Fox Advisors raised Micron Technology from an “equal weight” rating to an “overweight” rating in a report on Thursday, March 21st. Morgan Stanley upped their price target on 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 report on Thursday, March 21st. Finally, JPMorgan Chase & Co. upped their target price on Micron Technology from $105.00 to $130.00 and gave the company an “overweight” rating in a report on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and an average target price of $122.20.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $119.30, for a total transaction 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Micron Technology news, EVP Scott J. Deboer sold 40,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $110.31, for a total transaction of $4,412,400.00. Following the sale, the executive vice president now directly owns 158,617 shares of the company’s stock, valued at $17,497,041.27. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 323,890 shares of company stock valued at $36,079,267. Corporate insiders own 0.32% of the company’s stock.

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.