Proem Advisors LLC Takes Position in Micron Technology, Inc. $MU

Proem Advisors LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 10,000 shares of the semiconductor manufacturer’s stock, valued at approximately $2,854,000. Micron Technology accounts for about 0.3% of Proem Advisors LLC’s portfolio, making the stock its 24th biggest holding.

Several other institutional investors also recently made changes to their positions in MU. AQR Capital Management LLC grew its holdings in shares of Micron Technology by 411.9% during the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after purchasing an additional 2,918,535 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. California Public Employees Retirement System grew its holdings in shares of Micron Technology by 70.2% during the third quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock valued at $505,942,000 after purchasing an additional 1,246,773 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in shares of Micron Technology by 1,064.3% during the third quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock valued at $218,264,000 after purchasing an additional 1,192,433 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Micron Technology by 19.9% during the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock valued at $1,196,427,000 after purchasing an additional 1,188,296 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

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?

Wall Street Analyst Weigh In

MU has been the subject of several analyst reports. Erste Group Bank downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. Wedbush upped their target price on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, March 13th. Stifel Nicolaus upped their target price on Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Wells Fargo & Company upped their target price on Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Finally, Melius Research began coverage on Micron Technology in a research report on Monday, April 27th. They issued a “buy” rating and a $700.00 target price for the company. Five research 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 stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Buy” and a consensus target price of $478.24.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the sale, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This trade represents 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. In the last 90 days, insiders sold 104,000 shares of company stock worth $45,458,400. Insiders own 0.24% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $795.33 on Tuesday. Micron Technology, Inc. has a one year low of $90.93 and a one year high of $818.67. The stock has a fifty day moving average of $449.78 and a 200-day moving average of $356.05. The company has a market capitalization of $896.92 billion, a PE ratio of 37.55 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were given a dividend of $0.15 per share. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s payout ratio is currently 2.83%.

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.