KRS Capital Management LLC Boosts Position in Micron Technology, Inc. (NASDAQ:MU)

KRS Capital Management LLC raised its stake in Micron Technology, Inc. (NASDAQ:MU) by 22.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,323 shares of the semiconductor manufacturer’s stock after purchasing an additional 963 shares during the period. KRS Capital Management LLC’s holdings in Micron Technology were worth $448,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ProVise Management Group LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at about $236,000. Intech Investment Management LLC raised its position in Micron Technology by 111.3% in the 2nd quarter. Intech Investment Management LLC now owns 93,026 shares of the semiconductor manufacturer’s stock valued at $12,236,000 after purchasing an additional 49,001 shares during the last quarter. LHM Inc. grew its position in Micron Technology by 38.5% during the 2nd quarter. LHM Inc. now owns 77,242 shares of the semiconductor manufacturer’s stock worth $10,160,000 after purchasing an additional 21,478 shares during the last quarter. Ieq Capital LLC boosted its stake in shares of Micron Technology by 10.8% during the second quarter. Ieq Capital LLC now owns 56,017 shares of the semiconductor manufacturer’s stock worth $7,368,000 after buying an additional 5,473 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in shares of Micron Technology by 17.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 4,163 shares of the semiconductor manufacturer’s stock worth $547,000 after buying an additional 618 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on MU shares. Wedbush reaffirmed an “outperform” rating and set a $140.00 price target on shares of Micron Technology in a report on Tuesday, December 17th. Piper Sandler dropped their target price on Micron Technology from $150.00 to $120.00 and set an “overweight” rating on the stock in a research report on Thursday, December 19th. JPMorgan Chase & Co. reduced their price target on Micron Technology from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Thursday, December 19th. KeyCorp dropped their price objective on Micron Technology from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Tuesday, October 8th. Finally, Needham & Company LLC lowered their price target on shares of Micron Technology from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average price target of $135.24.

Micron Technology Price Performance

NASDAQ MU traded up $3.15 during midday trading on Friday, hitting $105.75. The company had a trading volume of 18,832,956 shares, compared to its average volume of 29,325,942. The company has a market capitalization of $117.82 billion, a PE ratio of 30.48 and a beta of 1.18. The company has a current ratio of 2.72, a quick ratio of 1.75 and a debt-to-equity ratio of 0.28. Micron Technology, Inc. has a twelve month low of $79.15 and a twelve month high of $157.54. The firm has a 50-day moving average price of $98.00 and a 200-day moving average price of $102.66.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, December 18th. The semiconductor manufacturer reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.19. Micron Technology had a net margin of 13.34% and a return on equity of 8.32%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.71 billion. During the same quarter in the previous year, the business earned ($0.95) earnings per share. Micron Technology’s revenue was up 84.3% compared to the same quarter last year. As a group, analysts anticipate that Micron Technology, Inc. will post 6.25 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, December 30th. Micron Technology’s dividend payout ratio (DPR) is currently 13.26%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the firm’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $85.21, for a total transaction of $416,676.90. Following the sale, the executive vice president now owns 181,223 shares in the company, valued at $15,442,011.83. This trade represents a 2.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.30% of the stock is currently owned by company insiders.

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.