Meeder Advisory Services Inc. Has $1.65 Million Stock Position in Micron Technology, Inc. (NASDAQ:MU)

Meeder Advisory Services Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,031 shares of the semiconductor manufacturer’s stock after acquiring an additional 307 shares during the period. Meeder Advisory Services Inc.’s holdings in Micron Technology were worth $1,654,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Micron Technology during the fourth quarter worth $769,372,000. California Public Employees Retirement System lifted its holdings in shares of Micron Technology by 125.0% during the fourth quarter. California Public Employees Retirement System now owns 4,541,662 shares of the semiconductor manufacturer’s stock worth $387,585,000 after purchasing an additional 2,523,267 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Micron Technology by 28.9% during the first quarter. Van ECK Associates Corp now owns 7,566,572 shares of the semiconductor manufacturer’s stock worth $892,023,000 after purchasing an additional 1,695,876 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Micron Technology in the fourth quarter valued at $137,941,000. Finally, Wedge Capital Management L L P NC acquired a new position in Micron Technology in the first quarter valued at $101,233,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Sanjay Mehrotra sold 7,000 shares of the company’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $120.70, for a total transaction of $844,900.00. Following the transaction, the chief executive officer now directly owns 719,049 shares of the company’s stock, valued at $86,789,214.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 13,239 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $118.77, for a total value of $1,572,396.03. Following the transaction, the executive vice president now directly owns 260,857 shares in the company, valued at $30,981,985.89. The disclosure for this sale can be found here. Insiders have sold 250,730 shares of company stock valued at $31,063,449 over the last three months. Company insiders own 0.32% of the company’s stock.

Micron Technology Trading Down 2.0 %

Shares of NASDAQ MU traded down $2.68 during midday trading on Monday, hitting $130.87. The stock had a trading volume of 19,944,441 shares, compared to its average volume of 20,842,383. The company has a market capitalization of $145.11 billion, a price-to-earnings ratio of -92.16 and a beta of 1.18. Micron Technology, Inc. has a 1-year low of $61.75 and a 1-year high of $157.54. The company has a quick ratio of 2.16, a current ratio of 3.41 and a debt-to-equity ratio of 0.29. The company has a fifty day moving average price of $132.43 and a 200 day moving average price of $110.25.

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

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 23rd. Stockholders of record on Monday, July 8th will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date of this dividend is Monday, July 8th. Micron Technology’s dividend payout ratio (DPR) is presently -32.39%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MU. Bank of America upped their price objective on shares of Micron Technology from $144.00 to $170.00 and gave the company a “buy” rating in a report on Monday, June 17th. Morgan Stanley upped their price objective on shares of Micron Technology from $130.00 to $140.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. TD Cowen increased their target price on shares of Micron Technology from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, June 27th. Piper Sandler upped their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company an “overweight” rating in a research note on Thursday, June 27th. Finally, Fox Advisors upgraded shares of Micron Technology from an “equal weight” rating to an “overweight” rating in a research note on Thursday, March 21st. Two investment analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.72.

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.