BG Investment Services LLC Acquires New Position in Micron Technology, Inc. $MU

BG Investment Services LLC bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, Holdings Channel reports. The firm bought 1,049 shares of the semiconductor manufacturer’s stock, valued at approximately $299,000.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares during the last quarter. Sivia Capital Partners LLC grew its holdings in shares of Micron Technology by 21.7% during the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock valued at $435,000 after buying an additional 628 shares during the last quarter. United Bank acquired a new position in shares of Micron Technology in the 2nd quarter valued at $236,000. Schnieders Capital Management LLC. raised its stake in Micron Technology by 67.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after acquiring an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Micron Technology by 5.6% in the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock worth $49,987,000 after acquiring an additional 21,619 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $803.63 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a market capitalization of $906.28 billion, a price-to-earnings ratio of 37.94 and a beta of 1.91. The firm’s 50 day simple moving average is $464.69 and its 200-day simple moving average is $364.25. Micron Technology, Inc. has a 12 month low of $90.93 and a 12 month high of $818.67.

Micron Technology Increases Dividend

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

Insider Activity

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 106,000 shares of company stock worth $47,032,460 over the last three months. Corporate insiders own 0.24% of the company’s stock.

Key Headlines 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 Analyst Weigh In

MU has been the topic of several research analyst reports. HSBC boosted their price target on Micron Technology from $350.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Stifel Nicolaus lifted their target price on Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Cantor Fitzgerald raised their price target on shares of Micron Technology from $450.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Wells Fargo & Company lifted their price objective on shares of Micron Technology from $470.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Finally, TD Cowen raised their target price on shares of Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Five research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $495.63.

Micron Technology Company 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.