Blume Capital Management Inc. Decreases Holdings in Micron Technology, Inc. $MU

Blume Capital Management Inc. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,214 shares of the semiconductor manufacturer’s stock after selling 6,389 shares during the quarter. Micron Technology accounts for about 3.0% of Blume Capital Management Inc.’s investment portfolio, making the stock its 7th largest position. Blume Capital Management Inc.’s holdings in Micron Technology were worth $16,329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. iA Global Asset Management Inc. raised its stake in Micron Technology by 18.7% in the third quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock valued at $24,578,000 after buying an additional 23,117 shares in the last quarter. Generation Capital Management LLC acquired a new stake in Micron Technology in the third quarter valued at $238,000. Wealthfront Advisers LLC raised its stake in Micron Technology by 9.8% in the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock valued at $15,962,000 after buying an additional 8,489 shares in the last quarter. Westpac Banking Corp raised its stake in Micron Technology by 251.0% in the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock valued at $3,863,000 after buying an additional 16,509 shares in the last quarter. Finally, Avanda Investment Management Pte. Ltd. acquired a new stake in Micron Technology in the third quarter valued at $418,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

NASDAQ MU opened at $724.66 on Monday. 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 52-week low of $90.93 and a 52-week high of $818.67. The business’s 50-day moving average price is $479.09 and its 200 day moving average price is $371.73. The firm has a market cap of $817.22 billion, a P/E ratio of 34.21 and a beta of 1.91.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a dividend of $0.15 per share. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology’s dividend payout ratio is 2.83%.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director owned 17,139 shares of the company’s stock, valued at $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the transaction, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 106,000 shares of company stock worth $47,032,460. Corporate insiders own 0.24% of the company’s stock.

Key Micron Technology News

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Analysts raised Micron’s earnings estimates, reinforcing expectations that AI-driven memory demand will keep boosting profits. Micron Technology stock report
• Positive Sentiment: Multiple articles highlight tight memory supply and surging demand for HBM, DRAM and SSDs, which supports Micron’s pricing power. Zacks Investment Ideas feature highlights: Micron, Sandisk and Nvidia
• Positive Sentiment: Micron continues to be viewed as a major beneficiary of the AI infrastructure buildout, with analysts and commentators floating much higher valuation targets. Here’s Why Micron Can Reach a $1 Trillion Market Cap This Year
• Neutral Sentiment: Some commentary says Micron’s recent surge has made the stock vulnerable to volatility and profit-taking after the sharp advance. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: Renewed uncertainty around U.S.-China chip policy is pressuring semiconductor stocks and dragging Micron lower in the near term. Why Micron Stock Just Dropped
• Negative Sentiment: A director sold shares this week, which may add a small overhang even though the transaction looks routine. Steven J. Gomo insider sale

Analysts Set New Price Targets

A number of research firms have weighed in on MU. Cantor Fitzgerald raised their price target on Micron Technology from $450.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. lifted their target price on Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Rosenblatt Securities reiterated a “buy” rating and set a $500.00 target price on shares of Micron Technology in a research report on Monday, March 16th. The Goldman Sachs Group lifted their target price on Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Finally, Summit Insights cut Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Five 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 company’s stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of “Buy” and a consensus target price of $495.63.

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.