Independent Advisor Alliance raised its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 14.4% during the fourth quarter, Holdings Channel reports. The firm owned 41,125 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,170 shares during the period. Independent Advisor Alliance’s holdings in Micron Technology were worth $11,738,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares during the period. State Street Corp lifted its position in shares of Micron Technology by 0.6% in the 3rd quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock worth $8,643,613,000 after purchasing an additional 285,582 shares during the period. Capital International Investors lifted its position in shares of Micron Technology by 0.7% in the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares during the period. Invesco Ltd. lifted its position in shares of Micron Technology by 8.0% in the 3rd quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock worth $1,609,981,000 after purchasing an additional 708,716 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Micron Technology by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer’s stock worth $1,217,394,000 after purchasing an additional 135,850 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Wedbush boosted their price target on shares of Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, March 13th. Phillip Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research report on Monday, February 2nd. Citigroup dropped their price target on shares of Micron Technology from $510.00 to $425.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Susquehanna boosted their price target on shares of Micron Technology from $345.00 to $525.00 and gave the stock a “positive” rating in a research report on Monday, March 9th. Five 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. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $495.63.
Key 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
NASDAQ:MU opened at $766.58 on Wednesday. The company has a fifty day moving average of $456.87 and a 200-day moving average of $360.05. The firm has a market capitalization of $864.50 billion, a P/E ratio of 36.19 and a beta of 1.91. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a twelve month low of $90.93 and a twelve month high of $818.67.
Micron Technology Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a $0.15 dividend. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.
Insider Activity
In other news, 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 completion of the sale, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 104,000 shares of company stock worth $45,458,400 in the last quarter. 0.24% of the stock is owned by corporate insiders.
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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