SRN Advisors LLC Trims Stock Holdings in Micron Technology, Inc. (NASDAQ:MU)

SRN Advisors LLC decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,568 shares of the semiconductor manufacturer’s stock after selling 630 shares during the period. SRN Advisors LLC’s holdings in Micron Technology were worth $864,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. DecisionPoint Financial LLC purchased a new stake in Micron Technology during the 1st quarter valued at approximately $25,000. Hobbs Group Advisors LLC bought a new stake in shares of Micron Technology in the second quarter worth about $28,000. Frank Rimerman Advisors LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth about $29,000. Valued Wealth Advisors LLC grew its holdings in Micron Technology by 230.7% during the 1st quarter. Valued Wealth Advisors LLC now owns 248 shares of the semiconductor manufacturer’s stock valued at $29,000 after buying an additional 173 shares in the last quarter. Finally, Richard W. Paul & Associates LLC increased its stake in Micron Technology by 128.6% in the 2nd quarter. Richard W. Paul & Associates LLC now owns 256 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 144 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of Micron Technology stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $113.00, for a total value of $552,570.00. Following the completion of the transaction, the executive vice president now owns 135,830 shares of the company’s stock, valued at $15,348,790. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.32% of the stock is owned by insiders.

Analyst Ratings Changes

MU has been the subject of several analyst reports. Robert W. Baird lowered their price objective on Micron Technology from $172.00 to $150.00 and set an “outperform” rating for the company in a research note on Friday, September 27th. Wedbush reissued an “outperform” rating and issued a $140.00 target price on shares of Micron Technology in a research note on Thursday, September 26th. Rosenblatt Securities boosted their price target on Micron Technology from $225.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Raymond James raised their price objective on Micron Technology from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Thursday, September 26th. Finally, UBS Group lowered their target price on Micron Technology from $153.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, September 17th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $143.23.

Micron Technology Stock Performance

Shares of MU opened at $100.31 on Wednesday. The stock has a fifty day moving average price of $97.12 and a 200-day moving average price of $115.10. The company has a current ratio of 3.41, a quick ratio of 2.16 and a debt-to-equity ratio of 0.29. Micron Technology, Inc. has a 12 month low of $63.88 and a 12 month high of $157.54. The firm has a market cap of $111.23 billion, a PE ratio of -70.64, a P/E/G ratio of 0.20 and a beta of 1.17.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 25th. The semiconductor manufacturer reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.21. The business had revenue of $7.75 billion during the quarter, compared to analysts’ expectations of $7.65 billion. Micron Technology had a negative net margin of 7.20% and a negative return on equity of 4.01%. The business’s quarterly revenue was up 93.3% on a year-over-year basis. During the same quarter last year, the company posted ($1.21) earnings per share. Equities research analysts predict that Micron Technology, Inc. will post 0.61 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 23rd. Stockholders of record on Monday, October 7th will be issued a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.46%. The ex-dividend date is Monday, October 7th. Micron Technology’s dividend payout ratio (DPR) is currently -32.39%.

About Micron Technology

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.