Legacy Financial Advisors Inc. increased its stake in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 44.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,566 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,637 shares during the quarter. Legacy Financial Advisors Inc.’s holdings in Micron Technology were worth $2,445,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of MU. Elevation Wealth Partners LLC raised its holdings in shares of Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. raised its holdings in shares of Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 96 shares during the period. Joseph Group Capital Management acquired a new stake in shares of Micron Technology during the fourth quarter valued at approximately $31,000. Luken Investment Analytics LLC acquired a new stake in shares of Micron Technology during the fourth quarter valued at approximately $31,000. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock valued at $31,000 after acquiring an additional 52 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.
More Micron Technology News
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron announced it is shipping the 245TB Micron 6600 ION SSD, the highest-capacity commercially available SSD, underscoring demand for its storage products. Article Title
- Positive Sentiment: Micron began sampling a 256GB DDR5 RDIMM for AI and data-center workloads, supporting the bullish case for memory demand. Article Title
- Positive Sentiment: Samsung labor disruption concerns could tighten global DRAM and NAND supply, improving Micron’s pricing power and margin outlook. Article Title
- Positive Sentiment: Analysts reiterated bullish views on MU, with recent Buy/Outperform calls and targets near $1,000 or higher reflecting confidence in AI-driven earnings growth. Article Title
- Neutral Sentiment: Some commentary says Micron’s sharp rally has made the stock look stretched in the short term, so traders may see near-term volatility or consolidation. Article Title
- Neutral Sentiment: Broader chip-sector weakness and profit-taking hit memory names on Tuesday, which can pressure MU despite the longer-term bullish trend. Article Title
Micron Technology Stock Performance
Micron Technology Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were issued a $0.15 dividend. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology’s payout ratio is currently 2.83%.
Analyst Ratings Changes
A number of analysts have recently issued reports on the company. Summit Insights lowered Micron Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 19th. Royal Bank Of Canada upped their target price on Micron Technology from $425.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, March 16th. Wells Fargo & Company upped their target price on Micron Technology from $470.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Barclays raised their price target on shares of Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, TD Cowen boosted their price objective on shares of Micron Technology from $550.00 to $660.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $495.63.
Read Our Latest Research Report on Micron Technology
Insider Buying and Selling at Micron Technology
In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 104,000 shares of company stock valued at $45,458,400 in the last quarter. Corporate insiders own 0.24% of the company’s stock.
Micron Technology Company Profile
Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.
Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.
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