IPG Investment Advisors LLC Lowers Stock Holdings in Micron Technology, Inc. $MU

IPG Investment Advisors LLC trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 63.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,501 shares of the semiconductor manufacturer’s stock after selling 12,873 shares during the period. IPG Investment Advisors LLC’s holdings in Micron Technology were worth $2,142,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Generation Capital Management LLC bought a new stake in shares of Micron Technology during the third quarter valued at approximately $238,000. Wealthfront Advisers LLC increased its position in shares of Micron Technology by 9.8% during the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock valued at $15,962,000 after acquiring an additional 8,489 shares in the last quarter. Westpac Banking Corp increased its position in shares of Micron Technology by 251.0% during the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock valued at $3,863,000 after acquiring an additional 16,509 shares in the last quarter. Avanda Investment Management Pte. Ltd. bought a new stake in shares of Micron Technology during the third quarter valued at approximately $418,000. Finally, Wellington Management Group LLP increased its position 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 acquiring an additional 1,188,296 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Micron Technology

In other news, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction 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 completion of the sale, the executive vice president 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. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction 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 sale, the director directly owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 106,000 shares of company stock worth $47,032,460. 0.24% of the stock is currently owned by insiders.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: UBS and Barclays raised their Micron price targets, with UBS setting a Street-high target of $1,625, fueling fresh buying. Benzinga report on UBS price target hike
• Positive Sentiment: Investors are betting that AI-driven shortages in DRAM and HBM memory will keep pricing power strong, supporting Micron’s earnings and margins. Reuters article on Micron joining the $1 trillion club
• Positive Sentiment: Micron’s latest earnings and guidance were extremely strong, with revenue up sharply year over year and management pointing to even higher fiscal Q3 revenue and margins. Seeking Alpha article on Micron’s AI bottleneck trade
• Positive Sentiment: The company announced its fiscal third-quarter earnings report will be released on June 24, keeping attention on another potential catalyst. Micron earnings date announcement
• Neutral Sentiment: Micron has crossed the $1 trillion market-cap milestone, a major headline that underscores the scale of the rally but also raises valuation questions. Forbes article on Micron passing $1 trillion
• Neutral Sentiment: Broader tech and chip stocks are also benefiting from the AI trade, helping support Micron’s move even as the wider market remains mixed. MarketWatch article on memory-chip rally
• Negative Sentiment: Some commentators warn the stock may be getting extended after its huge run, arguing that Micron is now priced for perfection and could be vulnerable if sentiment cools. 24/7 Wall St. cautionary article

Micron Technology Trading Up 3.6%

NASDAQ:MU opened at $928.41 on Thursday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 12 month low of $92.22 and a 12 month high of $956.16. The company has a market cap of $1.05 trillion, a PE ratio of 43.83 and a beta of 1.91. The company has a 50 day simple moving average of $538.07 and a two-hundred day simple moving average of $402.54.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping analysts’ consensus estimates of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The firm’s revenue was up 196 on a year-over-year basis. Research analysts forecast that Micron Technology, Inc. will post 57.82 earnings per share for the current year.

Micron Technology Increases Dividend

The firm 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 represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is presently 2.83%.

Wall Street Analysts Forecast Growth

MU has been the subject of several analyst reports. JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. TD Cowen raised their price target on shares of Micron Technology from $550.00 to $660.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. Citigroup lifted their target price on shares of Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Susquehanna lifted their target price on shares of Micron Technology from $345.00 to $525.00 and gave the stock a “positive” rating in a research report on Monday, March 9th. Finally, Needham & Company LLC lifted their target price on shares of Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Five 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. According to MarketBeat, Micron Technology has a consensus rating of “Buy” and an average price target of $566.47.

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.