Vestcor Inc Sells 9,459 Shares of Micron Technology, Inc. $MU

Vestcor Inc trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 22.6% during the fourth quarter, HoldingsChannel reports. The firm owned 32,442 shares of the semiconductor manufacturer’s stock after selling 9,459 shares during the quarter. Vestcor Inc’s holdings in Micron Technology were worth $9,259,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MU. High Note Wealth LLC boosted its stake in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC boosted its stake in Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after purchasing an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. boosted its stake in Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after purchasing an additional 96 shares during the period. Joseph Group Capital Management acquired a new position in Micron Technology in the 4th quarter worth $31,000. Finally, Luken Investment Analytics LLC acquired a new position in Micron Technology in the 4th quarter worth $31,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research analyst reports. UBS Group upped their target price on shares of Micron Technology from $535.00 to $1,625.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. KeyCorp upped their target price on shares of Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Raymond James Financial upped their target price on shares of Micron Technology from $530.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 target price on shares of Micron Technology in a research note on Monday, March 16th. Finally, Wedbush upped their target price on shares of Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of “Buy” and an average price target of $641.97.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron was certified as an HBM4 memory supplier for Nvidia’s next-generation Vera Rubin AI platform, reinforcing its role in the AI memory supply chain and highlighting continued demand for high-bandwidth memory. Micron’s HBM4 Certification With Nvidia Puts AI Memory Margins In Focus
• Positive Sentiment: Wall Street sentiment remains broadly constructive, with recent analyst reports and price-target hikes pointing to expectations for strong AI-driven earnings and tight memory supply. Morgan Stanley raises Micron stock price target
• Positive Sentiment: Recent coverage continues to frame Micron as a major beneficiary of AI infrastructure spending, with some analysts still arguing the stock has upside despite its huge run-up. Micron (MU) Boasts Earnings & Price Momentum: Should You Buy?
• Neutral Sentiment: Mixed commentary around Micron’s valuation and its recent $1 trillion-plus market-cap rally is keeping investors cautious ahead of the next earnings report, even as the company’s fundamentals remain strong. Micron Stock Price Forecast — What Top Analysts Expect Ahead of June 24 Earnings
• Neutral Sentiment: Broader market weakness in chip stocks and a hotter-than-expected U.S. jobs report added to the risk-off tone, pressuring semiconductors across the board. Micron, Sandisk stocks slide as traders exit high-flying AI plays
• Negative Sentiment: Broadcom’s disappointing AI guidance triggered a sharp unwind in the “AI trade,” dragging Micron lower even though there was no company-specific negative news. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
• Negative Sentiment: Some analysts and commentators are warning that memory-chip prices may be nearing a peak, raising concerns that Micron’s blockbuster rally may have run too far too fast. Micron Stock Drops, Brace for the Memory-Price Peak

Insider Buying and Selling at Micron Technology

In other news, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 40,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 146,000 shares of company stock valued at $85,486,715 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Stock Down 13.3%

Shares of MU stock opened at $864.01 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 1 year low of $103.38 and a 1 year high of $1,089.29. The firm’s fifty day moving average price is $617.28 and its two-hundred day moving average price is $437.99. The firm has a market capitalization of $974.37 billion, a P/E ratio of 40.79 and a beta of 2.16.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same period in the previous year, the business earned $1.56 EPS. The company’s revenue was up 196 compared to the same quarter last year. On average, equities analysts predict that Micron Technology, Inc. will post 58.79 EPS for the current fiscal year.

Micron Technology Increases Dividend

The firm 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 represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Monday, March 30th. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.

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.