SRS Capital Advisors Inc. Sells 800 Shares of Micron Technology, Inc. (NASDAQ:MU)

SRS Capital Advisors Inc. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,771 shares of the semiconductor manufacturer’s stock after selling 800 shares during the period. SRS Capital Advisors Inc.’s holdings in Micron Technology were worth $891,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in MU. Clearbridge Investments LLC increased its stake in Micron Technology by 1.1% during the 1st quarter. Clearbridge Investments LLC now owns 1,931,811 shares of the semiconductor manufacturer’s stock worth $227,741,000 after acquiring an additional 20,741 shares during the period. Chapin Davis Inc. bought a new position in Micron Technology during the 2nd quarter worth $4,056,000. Norden Group LLC increased its stake in Micron Technology by 1,916.7% during the 1st quarter. Norden Group LLC now owns 50,134 shares of the semiconductor manufacturer’s stock worth $5,910,000 after acquiring an additional 47,648 shares during the period. TCW Group Inc. increased its stake in Micron Technology by 5.7% during the 4th quarter. TCW Group Inc. now owns 531,637 shares of the semiconductor manufacturer’s stock worth $45,383,000 after acquiring an additional 28,649 shares during the period. Finally, Gulf International Bank UK Ltd increased its stake in shares of Micron Technology by 6.3% in the 1st quarter. Gulf International Bank UK Ltd now owns 99,839 shares of the semiconductor manufacturer’s stock valued at $11,770,000 after purchasing an additional 5,958 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Down 3.4 %

MU stock traded down $3.01 during mid-day trading on Friday, reaching $86.38. 23,388,281 shares of the company traded hands, compared to its average volume of 21,325,547. The stock has a market cap of $95.78 billion, a price-to-earnings ratio of -60.83 and a beta of 1.18. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a fifty-two week low of $63.83 and a fifty-two week high of $157.54. The firm’s 50 day moving average price is $108.72 and its 200 day moving average price is $114.56.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, June 26th. The semiconductor manufacturer reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.14. The business had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $6.67 billion. Micron Technology had a negative return on equity of 4.01% and a negative net margin of 7.20%. The company’s quarterly revenue was up 81.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.57) EPS. As a group, equities research analysts predict that Micron Technology, Inc. will post 0.58 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th were paid a $0.115 dividend. The ex-dividend date was Monday, July 8th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.53%. Micron Technology’s payout ratio is presently -32.39%.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total value of $941,990.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at approximately $96,762,423.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $134.57, for a total value of $941,990.00. Following the transaction, the chief executive officer now owns 719,049 shares in the company, valued at $96,762,423.93. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 4,890 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $135.86, for a total value of $664,355.40. Following the completion of the transaction, the executive vice president now owns 142,321 shares in the company, valued at approximately $19,335,731.06. The disclosure for this sale can be found here. Insiders have sold 46,174 shares of company stock worth $6,827,113 in the last 90 days. Insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. KeyCorp decreased their price target on Micron Technology from $165.00 to $145.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 6th. Robert W. Baird lifted their price target on Micron Technology from $150.00 to $172.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. UBS Group decreased their price target on Micron Technology from $155.00 to $153.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Piper Sandler raised their price objective on Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, June 27th. Finally, Wells Fargo & Company raised their price objective on Micron Technology from $135.00 to $190.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. Two analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $157.12.

Micron Technology 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.