PNC Financial Services Group Inc. Sells 3,562 Shares of Micron Technology, Inc. $MU

PNC Financial Services Group Inc. decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 0.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477,702 shares of the semiconductor manufacturer’s stock after selling 3,562 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Micron Technology were worth $136,341,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Manning & Napier Advisors LLC increased its position in shares of Micron Technology by 2.4% in the 4th quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer’s stock valued at $301,000 after buying an additional 24 shares in the last quarter. Round Rock Advisors LLC lifted its holdings in Micron Technology by 0.6% during the fourth quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer’s stock worth $1,237,000 after acquiring an additional 25 shares in the last quarter. Arlington Trust Co LLC grew its stake in Micron Technology by 26.3% in the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 25 shares during the period. Manuka Financial LLC grew its stake in Micron Technology by 2.3% in the fourth quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer’s stock valued at $355,000 after acquiring an additional 28 shares during the period. Finally, Valued Wealth Advisors LLC increased its holdings in shares of Micron Technology by 20.9% in the fourth quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer’s stock worth $48,000 after acquiring an additional 29 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other news, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of 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 position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 106,000 shares of company stock worth $47,032,460. Insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group raised their price target on Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Citigroup increased their target price on Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday. HSBC increased their target price on Micron Technology from $350.00 to $500.00 and gave the stock a “buy” rating in a research note on Friday, January 23rd. UBS Group raised their target price on shares of Micron Technology from $510.00 to $535.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Finally, Susquehanna lifted their price target on shares of Micron Technology from $345.00 to $525.00 and gave the company a “positive” rating in a research note on Monday, March 9th. Five 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. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $518.47.

Micron Technology News Roundup

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

Micron Technology Stock Up 4.8%

NASDAQ:MU opened at $731.99 on Thursday. Micron Technology, Inc. has a twelve month low of $90.93 and a twelve month high of $818.67. The firm has a market capitalization of $825.49 billion, a price-to-earnings ratio of 34.56 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. The stock’s 50 day moving average price is $498.20 and its two-hundred day moving average price is $381.87.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. 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 yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology’s dividend payout ratio is 2.83%.

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.