Flaharty Asset Management LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU – Free Report) during the 4th quarter, HoldingsChannel.com reports. The firm purchased 1,929 shares of the semiconductor manufacturer’s stock, valued at approximately $551,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Micron Technology by 411.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after purchasing an additional 2,918,535 shares during the period. Vanguard Group Inc. grew its position in shares of Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after buying an additional 1,954,644 shares during the period. California Public Employees Retirement System grew its position in shares of Micron Technology by 70.2% during the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock worth $505,942,000 after buying an additional 1,246,773 shares during the period. Voloridge Investment Management LLC raised its stake in shares of Micron Technology by 1,064.3% during the third quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock worth $218,264,000 after buying an additional 1,192,433 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Micron Technology by 19.9% during the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock worth $1,196,427,000 after buying an additional 1,188,296 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Key Micron Technology News
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Talks between Samsung management and labor representatives reportedly broke down, raising the risk of a worker strike that could further tighten memory-chip supply and support higher DRAM/NAND prices. Micron Stock Is on a Tear. Chip Shortage Threat Looms as Samsung Strike Talks Break Down.
- Positive Sentiment: Several articles highlight a broader AI memory boom, arguing that data-center demand is creating a structural shortage and a pricing supercycle for memory makers like Micron. The Great AI Rotation: Cashing In on Data
- Positive Sentiment: Micron was featured alongside other “red hot” AI infrastructure names as investors continue favoring semiconductor suppliers tied to the AI buildout. Checking in On Red Hot AI Infrastructure Stocks
- Positive Sentiment: Analyst commentary and price-target hikes from Citi and Mizuho reinforced the bullish view on Micron, with Wall Street increasingly supportive of the stock’s AI-memory narrative. Why Micron Stock Just Popped Again
- Positive Sentiment: High-profile investors such as Stanley Druckenmiller and David Tepper were cited as buyers of Micron-related AI hardware plays, adding momentum to the bullish sentiment around the name. Billionaire Stanley Druckenmiller Dumped Every Share of Alphabet. He Bought AI Memory Stocks Up 581% to 3,467% Instead
Insider Activity
Micron Technology Stock Up 4.8%
Shares of NASDAQ MU opened at $731.99 on Thursday. Micron Technology, Inc. has a 52-week low of $90.93 and a 52-week high of $818.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The stock has a market cap of $825.49 billion, a P/E ratio of 34.56 and a beta of 1.91. The firm has a 50 day moving average price of $498.20 and a 200 day moving average price of $381.87.
Micron Technology Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders 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 dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on MU shares. UBS Group raised their price objective on shares of Micron Technology from $510.00 to $535.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Erste Group Bank cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. JPMorgan Chase & Co. increased their price target on Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Royal Bank Of Canada raised their price target on Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, March 16th. Finally, Summit Insights cut Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $518.47.
Get Our Latest Stock Report on Micron Technology
About Micron Technology
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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