Berkeley Capital Partners LLC Sells 887 Shares of Micron Technology, Inc. $MU

Berkeley Capital Partners LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 25.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,562 shares of the semiconductor manufacturer’s stock after selling 887 shares during the quarter. Berkeley Capital Partners LLC’s holdings in Micron Technology were worth $731,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. iA Global Asset Management Inc. lifted its holdings in shares of Micron Technology by 18.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock worth $24,578,000 after acquiring an additional 23,117 shares during the last quarter. Generation Capital Management LLC purchased a new position in shares of Micron Technology in the third quarter worth $238,000. Wealthfront Advisers LLC increased its stake in shares of Micron Technology by 9.8% in the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock worth $15,962,000 after buying an additional 8,489 shares during the period. Westpac Banking Corp increased its stake in shares of Micron Technology by 251.0% in the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock worth $3,863,000 after buying an additional 16,509 shares during the period. Finally, Avanda Investment Management Pte. Ltd. purchased a new position in shares of Micron Technology in the third quarter worth $418,000. 80.84% of the stock is currently owned by institutional investors.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Analysts and market commentators say Micron is benefiting from surging demand for HBM, DRAM and AI infrastructure memory, with supply still tight. BofA Sees More Room for Micron’s AI Rally
• Positive Sentiment: Micron is being highlighted as a direct AI winner, with articles arguing the company is still early in the AI cycle rather than near the top of it. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI ‘Parking Lot’— It Is ‘Not Late’ To Get In
• Positive Sentiment: Fresh product momentum also supports the bull case, including sampling of a faster 256GB DDR5 server module for AI and data-center workloads. Micron Redefines AI Performance With Sampling of 256GB DDR5 Server Module
• Neutral Sentiment: Some investors are also watching Micron’s sharp run and warning that the stock may be extended after a huge rally, which could mean near-term volatility even if the long-term story remains strong. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: A broader chip-sector pullback and profit-taking briefly weighed on MU earlier in the week as traders worried the memory-supercycle trade had run too far, too fast. Why Sandisk, Micron stock are plunging upto 9% on Tuesday

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MU. Mizuho lifted their target price on shares of Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Melius Research assumed coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a “buy” rating and a $700.00 target price on the stock. Bank of America boosted their price target on Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Phillip Securities upgraded Micron Technology to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada increased their price objective on Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and an average price target of $495.63.

Micron Technology Stock Up 4.8%

Shares of NASDAQ MU opened at $803.63 on Thursday. 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 12 month low of $90.93 and a 12 month high of $818.67. The firm has a market capitalization of $906.28 billion, a PE ratio of 37.94 and a beta of 1.91. The firm has a fifty day simple moving average of $464.69 and a two-hundred day simple moving average of $364.25.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were issued a $0.15 dividend. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 106,000 shares of company stock valued at $47,032,460 over the last quarter. Company insiders own 0.24% of the company’s stock.

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.