Kiley Juergens Wealth Management LLC acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 892 shares of the semiconductor manufacturer’s stock, valued at approximately $301,000.
Several other institutional investors have also made changes to their positions in the business. Norges Bank bought a new stake in shares of Micron Technology in the 4th quarter valued at approximately $6,433,456,000. AQR Capital Management LLC boosted its stake in Micron Technology by 411.9% in 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 buying an additional 2,918,535 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Micron Technology by 1,340.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer’s stock valued at $805,148,000 after buying an additional 2,625,169 shares in the last quarter. Amundi grew its position in Micron Technology by 65.0% in the fourth quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock valued at $1,424,025,000 after acquiring an additional 1,965,319 shares during the period. Finally, Vanguard Group Inc. grew its position in Micron Technology by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after acquiring an additional 1,954,644 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology Stock Performance
MU stock opened at $938.38 on Wednesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 2.98. The company has a 50 day moving average price of $895.82 and a 200 day moving average price of $565.31. Micron Technology, Inc. has a fifty-two week low of $103.38 and a fifty-two week high of $1,255.00. The stock has a market capitalization of $1.06 trillion, a PE ratio of 21.24 and a beta of 2.14.
Micron Technology Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Monday, July 6th will be paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend is Monday, July 6th. Micron Technology’s payout ratio is 1.36%.
Insiders Place Their Bets
In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Lynn A. Dugle sold 1,300 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the completion of the transaction, the director directly owned 17,728 shares in the company, valued at approximately $20,394,823.04. This trade represents a 6.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 187,300 shares of company stock valued at $162,779,604 over the last three months. 0.24% of the stock is owned by insiders.
Analyst Ratings Changes
A number of research analysts have issued reports on the company. Wedbush lifted their price objective on Micron Technology from $1,300.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $1,500.00 target price on shares of Micron Technology in a report on Thursday, June 25th. Wolfe Research set a $1,500.00 price target on Micron Technology in a research report on Thursday, June 25th. Morgan Stanley raised their price target on Micron Technology from $1,050.00 to $1,200.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. Finally, Mizuho boosted their price objective on Micron Technology from $1,150.00 to $1,375.00 and gave the stock an “outperform” rating in a research note on Thursday, June 25th. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $1,263.76.
Get Our Latest Stock Report on Micron Technology
Key Headlines Impacting Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron’s long-term supply agreement with Ford supports revenue visibility and reinforces demand for its automotive memory and storage products. Reuters: Micron, Ford sign semiconductor supply agreement for vehicles
- Positive Sentiment: Several bullish articles say Micron remains a key AI-memory winner, with record results, strong margins, and customer contracts suggesting the rally could have more room to run. Motley Fool: Micron Stock Is Down 22% From Its High
- Positive Sentiment: Analyst coverage remains constructive, with price-target hikes and “buy” ratings reinforcing the view that AI-driven memory demand is still strong. Insider Monkey: Phillip Securities Raises Price Target For Micron Technology
- Neutral Sentiment: Micron is moving with the broader semiconductor and memory group, so near-term volatility is being driven as much by sector sentiment as by company-specific news. Yahoo Finance: Why Micron Technology Stock Is Falling Today
- Neutral Sentiment: Some coverage warns the memory trade may be stretched after a huge run-up, which could keep investors cautious even if fundamentals stay strong. Barron’s: Micron Locks in Big Customers But Memory-Chip Fears Drag on Stock
- Negative Sentiment: Insider selling and articles questioning whether the memory cycle is peaking are adding to concern that Micron’s valuation may be ahead of fundamentals in the short term. Seeking Alpha: Micron: Exact Opposite Valuation Setup As 2022 Buy Suggestion
Micron Technology 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.
Featured Articles
- Five stocks we like better than Micron Technology
- Apple and Broadcom Forge a Decade-Long Silicon Fortress
- SK Hynix’s Nasdaq Listing Could Reset the AI Memory Trade
- The AI Chip Sell-Off Looks Scary, But the Real Story May Be Liquidity
- Palantir’s CEO Just Called Out OpenAI and Anthropic
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Free Report).
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.
