Ballast Inc. Lowers Stock Position in Micron Technology, Inc. $MU

Key Points

• Ballast Inc. reduced its Micron Technology stake by 20.8% in the fourth quarter, selling 2,651 shares and ending with 10,101 shares valued at about $2.88 million.
• Wall Street remains bullish on Micron, with an average analyst rating of “Buy” and a consensus price target of $478.24; several firms recently raised their targets, including Deutsche Bank to $550.
• Micron’s stock has surged sharply, recently trading near its 52-week high and up 15.4% in the period referenced, alongside a higher quarterly dividend of $0.15 versus $0.12 previously.

Ballast Inc. reduced its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,101 shares of the semiconductor manufacturer's stock after selling 2,651 shares during the quarter. Micron Technology comprises approximately 0.7% of Ballast Inc.'s holdings, making the stock its 26th largest position. Ballast Inc.'s holdings in Micron Technology were worth $2,883,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MU. iA Global Asset Management Inc. raised its position in shares of Micron Technology by 18.7% during the third quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer's stock worth $24,578,000 after acquiring an additional 23,117 shares during the last quarter. Generation Capital Management LLC bought a new position in Micron Technology in the third quarter valued at about $238,000. Wealthfront Advisers LLC increased its position in Micron Technology by 9.8% in the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock worth $15,962,000 after purchasing an additional 8,489 shares during the period. Westpac Banking Corp grew its position in shares of Micron Technology by 251.0% during the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after buying an additional 16,509 shares during the period. Finally, Avanda Investment Management Pte. Ltd. bought a new stake in shares of Micron Technology during the third quarter worth approximately $418,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MU has been the subject of a number of analyst reports. DA Davidson assumed coverage on shares of Micron Technology in a report on Tuesday, April 28th. They set a "buy" rating for the company. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price objective on shares of Micron Technology in a research note on Monday, March 16th. HSBC upped their price objective on Micron Technology from $350.00 to $500.00 and gave the company a "buy" rating in a report on Friday, January 23rd. The Goldman Sachs Group increased their target price on Micron Technology from $360.00 to $400.00 and gave the company a "neutral" rating in a research note on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Micron Technology from $500.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Five 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. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $478.24.

Micron Technology Stock Up 15.4%

NASDAQ:MU opened at $746.33 on Friday. The firm has a market capitalization of $841.66 billion, a price-to-earnings ratio of 35.24 and a beta of 1.91. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a twelve month low of $84.68 and a twelve month high of $747.21. The stock's 50 day moving average price is $435.84 and its two-hundred day moving average price is $348.07.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology's dividend payout ratio is 2.83%.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What's Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Insider Activity

In related news, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 dated 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 transaction, 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 104,000 shares of company stock valued at $45,458,400 in the last quarter. Company insiders own 0.24% of the company's stock.

Micron Technology 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.

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