Prosperitas Financial LLC Takes Position in Micron Technology, Inc. $MU

Prosperitas Financial LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,007 shares of the semiconductor manufacturer’s stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after buying an additional 976 shares during the last quarter. Sivia Capital Partners LLC raised its stake in 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 purchased a new position in Micron Technology during the second quarter valued at $236,000. Schnieders Capital Management LLC. raised its stake in Micron Technology by 67.9% during the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after buying an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Micron Technology by 5.6% during the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock valued at $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.

Micron Technology Stock Up 6.5%

MU stock opened at $795.33 on Tuesday. Micron Technology, Inc. has a 1-year low of $90.93 and a 1-year high of $818.67. The business has a fifty day moving average price of $449.78 and a 200-day moving average price of $356.05. 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 $896.92 billion, a P/E ratio of 37.55 and a beta of 1.91.

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 paid a $0.15 dividend. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 40,000 shares of the business’s stock in a transaction on 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 transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 104,000 shares of company stock worth $45,458,400 over the last quarter. 0.24% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on MU shares. Citigroup lowered their price objective on Micron Technology from $510.00 to $425.00 and set a “buy” rating for the company in a research note on Tuesday, March 31st. UBS Group lifted their price objective on Micron Technology from $510.00 to $535.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. KeyCorp lifted their price objective on Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Micron Technology in a research note on Thursday, January 29th. Finally, Melius Research initiated coverage on Micron Technology in a research note on Monday, April 27th. They set a “buy” rating and a $700.00 price objective for the company. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Micron Technology has a consensus rating of “Buy” and a consensus price target of $478.24.

More Micron Technology News

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

• Positive Sentiment: Micron is benefiting from a powerful AI memory supercycle, with multiple articles citing strong demand for DRAM, NAND, and high-bandwidth memory as hyperscale data center spending accelerates. Micron Rallies as Memory Chip Shortage Fuels AI Demand
• Positive Sentiment: Wall Street sentiment remains constructive, with DA Davidson reaffirming a buy rating and Deutsche Bank reportedly raising its price target to $1,000, reinforcing the view that earnings estimates may still be moving higher. DA Davidson buy rating reaffirmed
• Positive Sentiment: Reports that Samsung could face production disruption from labor issues are boosting Micron, since any supply hit at a major rival could lift memory prices and improve Micron’s margins. Micron, SK Hynix Stocks Rise. Thank Trouble at Samsung.
• Positive Sentiment: Investor enthusiasm is also being amplified by strong ETF and options activity tied to chip stocks, suggesting traders expect the rally to continue and are positioning for more upside in MU. Micron Stock Has Been Soaring—Traders Are Pricing In More Big Moves This Week
• Neutral Sentiment: Micron is increasingly viewed as a major AI stock and a top trader favorite, which can support momentum, but it also raises the risk of near-term volatility if expectations become too stretched. 5 AI Stocks Wall Street Is Watching Now: Nvidia, Micron, and More
• Negative Sentiment: One cautionary note is that the stock’s rapid run-up has drawn “overbought” warnings and comments about extreme sentiment, so any disappointment on earnings, margins, or supply-chain execution could trigger profit-taking. Micron Stock: Overbought or Unstoppable Force?

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.