Micron Technology, Inc. $MU Stake Boosted by Mariner LLC

Mariner LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 19.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 364,298 shares of the semiconductor manufacturer’s stock after purchasing an additional 59,718 shares during the quarter. Mariner LLC’s holdings in Micron Technology were worth $104,091,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. High Note Wealth LLC lifted its stake in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Elevation Wealth Partners LLC lifted its stake in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its stake in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. Joseph Group Capital Management acquired a new position in shares of Micron Technology during the fourth quarter valued at $31,000. Finally, Luken Investment Analytics LLC acquired a new position in shares of Micron Technology during the fourth quarter valued at $31,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 10.8%

Shares of Micron Technology stock opened at $1,087.99 on Tuesday. The firm has a market cap of $1.23 trillion, a price-to-earnings ratio of 51.37 and a beta of 2.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. Micron Technology, Inc. has a 52-week low of $103.38 and a 52-week high of $1,097.47. The stock has a 50-day simple moving average of $692.02 and a 200-day simple moving average of $471.28.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The firm’s revenue was up 196 on a year-over-year basis. During the same period in the previous year, the company earned $1.56 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

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

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.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Susquehanna raised their price target on Micron Technology from $600.00 to $1,750.00 and gave the company a “positive” rating in a report on Friday, May 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 target price on shares of Micron Technology in a report on Monday, March 16th. Morgan Stanley boosted their price objective on Micron Technology from $520.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Summit Insights lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, The Goldman Sachs Group upped their price objective on shares of Micron Technology from $400.00 to $900.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. Five research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Micron Technology presently has an average rating of “Buy” and an average target price of $788.13.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the transaction, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at $227,643,978.78. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction that occurred 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 directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,000 shares of company stock valued at $85,486,715 over the last 90 days. 0.24% of the stock is currently owned by insiders.

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.