Stephens Inc. AR cut its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 11.3% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,948 shares of the semiconductor manufacturer’s stock after selling 1,784 shares during the quarter. Stephens Inc. AR’s holdings in Micron Technology were worth $4,745,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the company. Heritage Trust Co increased its stake in Micron Technology by 9.7% during the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock valued at $4,289,000 after purchasing an additional 1,323 shares in the last quarter. Wellington Management Group LLP lifted 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 period. Fulton Bank N.A. grew its holdings in shares of Micron Technology by 79.1% during the fourth quarter. Fulton Bank N.A. now owns 16,183 shares of the semiconductor manufacturer’s stock valued at $4,619,000 after buying an additional 7,147 shares during the last quarter. Financial Synergies Wealth Advisors Inc. purchased a new stake in shares of Micron Technology during the fourth quarter valued at $1,316,000. Finally, PKO BP BANKOWY Universal Pension Society JSC acquired a new position in shares of Micron Technology in the 4th quarter valued at $61,306,000. 80.84% of the stock is owned by hedge funds and other institutional investors.
Micron Technology Stock Down 4.7%
MU stock opened at $938.38 on Wednesday. The firm has a market cap of $1.06 trillion, a PE ratio of 21.24 and a beta of 2.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42. The firm’s fifty day moving average is $895.82 and its 200 day moving average is $565.31. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,255.00.
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 issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, July 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology’s dividend payout ratio is presently 1.36%.
Key Stories 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
Analyst Ratings Changes
MU has been the subject of a number of research reports. TD Cowen lifted their price target on Micron Technology from $1,500.00 to $1,600.00 and gave the stock a “buy” rating in a research report on Thursday, June 25th. Melius Research initiated coverage on Micron Technology in a research note on Monday, April 27th. They issued a “buy” rating and a $700.00 price objective for the company. KeyCorp lifted their target price on Micron Technology from $600.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Erste Group Bank upgraded Micron Technology from a “hold” rating to a “buy” rating in a research report on Thursday, June 25th. Finally, Royal Bank Of Canada increased their price target on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $1,263.76.
Read Our Latest Research Report on Micron Technology
Insider Buying and Selling
In other news, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares in the company, valued at $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the transaction, the executive vice president directly owned 85,737 shares of the company’s stock, valued at approximately $92,933,763.78. The trade was a 31.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 187,300 shares of company stock worth $162,779,604 in the last ninety days. 0.24% of the stock is owned by corporate insiders.
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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