Icon Wealth Advisors LLC Purchases 730 Shares of Micron Technology, Inc. $MU

Icon Wealth Advisors LLC increased its position in Micron Technology, Inc. (NASDAQ:MU) by 100.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,456 shares of the semiconductor manufacturer’s stock after acquiring an additional 730 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Micron Technology were worth $416,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Manning & Napier Advisors LLC boosted its position in shares of Micron Technology by 2.4% in the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer’s stock valued at $301,000 after acquiring an additional 24 shares during the period. SWAN Capital LLC lifted its position in Micron Technology by 9.7% during the fourth quarter. SWAN Capital LLC now owns 271 shares of the semiconductor manufacturer’s stock valued at $77,000 after purchasing an additional 24 shares during the last quarter. Vivaldi Capital Management LP lifted its position in Micron Technology by 1.2% during the fourth quarter. Vivaldi Capital Management LP now owns 1,964 shares of the semiconductor manufacturer’s stock valued at $561,000 after purchasing an additional 24 shares during the last quarter. Round Rock Advisors LLC lifted its position 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 valued at $1,237,000 after purchasing an additional 25 shares during the last quarter. Finally, Arlington Trust Co LLC lifted its position in Micron Technology by 26.3% during the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 25 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Trading Up 10.8%

MU stock opened at $1,087.99 on Tuesday. The company has a market capitalization of $1.23 trillion, a PE ratio of 51.37 and a beta of 2.15. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,097.47. The company’s 50 day moving average price is $692.02 and its two-hundred day moving average price is $471.28. 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 (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. The firm had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business’s revenue was up 196 compared to the same quarter last year. During the same period last year, the firm posted $1.56 earnings per share. As a group, analysts predict that Micron Technology, Inc. will post 59.23 earnings per share 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 dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology’s payout ratio is 2.83%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president directly owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the transaction, the executive vice president directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is owned by insiders.

Key Micron Technology News

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

• Positive Sentiment: TD Cowen raised its price target to $1,500 and said AI-driven memory demand could support pricing strength through 2027.
• Positive Sentiment: RBC also lifted its target, citing a stronger memory cycle and continued AI demand for Micron’s DRAM and NAND products.
• Positive Sentiment: Multiple reports said memory-chip shortages and improving industry supply/demand dynamics are reinforcing a prolonged upcycle for MU.
• Positive Sentiment: The stock’s breakout to new highs is drawing additional momentum buyers and investors positioning ahead of earnings on June 24.
• Neutral Sentiment: Some market commentary notes MU has become extremely overbought after its massive run, which could lead to volatility even if the long-term outlook remains strong.
• Neutral Sentiment: Option-market data shows elevated implied volatility and bearish hedging, suggesting traders are pricing in a wide range of outcomes around earnings and other event risks.
• Negative Sentiment: A few articles warn that Micron’s rally may be too crowded and that memory margins may not stay at peak levels indefinitely, increasing pullback risk.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MU shares. Barclays lifted their target price on shares of Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Wells Fargo & Company lifted their target price on shares of Micron Technology from $550.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. Raymond James Financial lifted their target price on shares of Micron Technology from $530.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Monday, June 1st. Bank of America lifted their target price on shares of Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, Summit Insights lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $788.13.

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.