Passumpsic Savings Bank Makes New Investment in Micron Technology, Inc. $MU

Passumpsic Savings Bank purchased a new position in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 9,352 shares of the semiconductor manufacturer’s stock, valued at approximately $2,669,000. Micron Technology makes up approximately 1.5% of Passumpsic Savings Bank’s investment portfolio, making the stock its 28th biggest holding.

Several other hedge funds have also bought and sold shares of MU. Brighton Jones LLC lifted its stake in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 976 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Micron Technology by 21.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after buying an additional 628 shares during the last quarter. United Bank bought a new stake in shares of Micron Technology in the 2nd quarter worth about $236,000. Schnieders Capital Management LLC. increased its holdings in shares of 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 buying an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. increased its holdings in shares of 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 buying an additional 21,619 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling at Micron Technology

In related news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction that occurred on 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the sale, the executive vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 106,000 shares of company stock worth $47,032,460 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Micron Technology News Roundup

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

• Positive Sentiment: Analysts raised Micron’s earnings estimates, reinforcing expectations that AI-driven memory demand will keep boosting profits. Micron Technology stock report
• Positive Sentiment: Multiple articles highlight tight memory supply and surging demand for HBM, DRAM and SSDs, which supports Micron’s pricing power. Zacks Investment Ideas feature highlights: Micron, Sandisk and Nvidia
• Positive Sentiment: Micron continues to be viewed as a major beneficiary of the AI infrastructure buildout, with analysts and commentators floating much higher valuation targets. Here’s Why Micron Can Reach a $1 Trillion Market Cap This Year
• Neutral Sentiment: Some commentary says Micron’s recent surge has made the stock vulnerable to volatility and profit-taking after the sharp advance. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: Renewed uncertainty around U.S.-China chip policy is pressuring semiconductor stocks and dragging Micron lower in the near term. Why Micron Stock Just Dropped
• Negative Sentiment: A director sold shares this week, which may add a small overhang even though the transaction looks routine. Steven J. Gomo insider sale

Micron Technology Price Performance

Shares of MU opened at $724.66 on Monday. The company has a 50 day moving average price of $479.09 and a 200-day moving average price of $371.73. Micron Technology, Inc. has a fifty-two week low of $90.93 and a fifty-two week high of $818.67. The stock has a market capitalization of $817.22 billion, a PE ratio of 34.21 and a beta of 1.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

Micron Technology Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on MU. William Blair began coverage on shares of Micron Technology in a report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Melius Research began coverage on shares of Micron Technology in a report on Monday, April 27th. They issued a “buy” rating and a $700.00 target price on the stock. Sanford C. Bernstein boosted their target price on shares of Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. The Goldman Sachs Group boosted their target price on shares of Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a report on Thursday, March 19th. Finally, Wedbush boosted their target price on shares of Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. Five equities 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 company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $495.63.

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.