Micron Technology, Inc. $MU Shares Purchased by Simmons Bank

Simmons Bank boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 241.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,035 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,392 shares during the quarter. Simmons Bank’s holdings in Micron Technology were worth $2,579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC increased its stake in Micron Technology by 2.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer’s stock worth $301,000 after acquiring an additional 24 shares during the last quarter. Round Rock Advisors LLC increased its stake 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 during the last quarter. Arlington Trust Co LLC increased its stake in Micron Technology by 26.3% during the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer’s stock worth $34,000 after acquiring an additional 25 shares during the last quarter. Manuka Financial LLC increased its stake in Micron Technology by 2.3% during the fourth quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer’s stock worth $355,000 after acquiring an additional 28 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its stake in Micron Technology by 20.9% during 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 during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MU has been the subject of several research analyst reports. Wedbush upped their price target on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. JPMorgan Chase & Co. upped their price target on Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. The Goldman Sachs Group upped their price target on Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. Wells Fargo & Company upped their price target on Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on Micron Technology from $500.00 to $550.00 and gave the stock a “buy” rating in a research note 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 given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $495.63.

Insider Buying and Selling

In other news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares of the company’s stock, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the sale, the executive vice president directly owned 125,737 shares of the company’s stock, valued at $43,679,776.43. The trade was a 24.13% decrease in their position. 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 sold 106,000 shares of company stock worth $47,032,460 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $803.63 on Thursday. Micron Technology, Inc. has a 1-year low of $90.93 and a 1-year high of $818.67. The business has a 50-day moving average of $464.69 and a 200-day moving average of $364.25. 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 company has a market capitalization of $906.28 billion, a price-to-earnings ratio of 37.94 and a beta of 1.91.

Micron Technology Increases Dividend

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

Micron Technology News Summary

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

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.