Byrne Financial Freedom LLC Acquires Shares of 21,063 Micron Technology, Inc. $MU

Key Points

• Byrne Financial Freedom LLC disclosed a new fourth-quarter stake in Micron Technology, buying 21,063 shares valued at about $6.0 million. Micron now represents 2.8% of the firm’s portfolio and is its 12th-largest holding.
• Other institutional investors also increased their Micron holdings, and institutions now own 80.84% of the company’s stock. Meanwhile, several analysts remain bullish, with an average rating of “Buy” and an average price target of $478.24.
• Micron insiders have been selling shares recently, including CEO Sanjay Mehrotra and EVP Sumit Sadana, with 104,000 shares sold over the last 90 days. The company also recently raised its quarterly dividend from $0.12 to $0.15 per share.

Byrne Financial Freedom LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 21,063 shares of the semiconductor manufacturer's stock, valued at approximately $6,011,000. Micron Technology accounts for approximately 2.8% of Byrne Financial Freedom LLC's holdings, making the stock its 12th largest holding.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Manning & Napier Advisors LLC raised its stake in Micron Technology by 2.4% in the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer's stock valued at $301,000 after buying an additional 24 shares during the period. Round Rock Advisors LLC raised its stake in Micron Technology by 0.6% in the fourth quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer's stock valued at $1,237,000 after buying an additional 25 shares during the period. Arlington Trust Co LLC raised its stake in Micron Technology by 26.3% in the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 25 shares during the period. Manuka Financial LLC raised its stake in Micron Technology by 2.3% in the fourth quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer's stock valued at $355,000 after buying an additional 28 shares during the period. Finally, Valued Wealth Advisors LLC raised its stake in Micron Technology by 20.9% in the fourth quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer's stock valued at $48,000 after buying an additional 29 shares during the period. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on MU. DA Davidson began coverage on Micron Technology in a research note on Tuesday, April 28th. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on Micron Technology from $500.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, March 19th. Stifel Nicolaus upped their price objective on Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Erste Group Bank lowered Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company upped their target price on Micron Technology from $470.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $478.24.

Insider Buying and Selling

In related news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the 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 sale, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 104,000 shares of company stock valued at $45,458,400 over the last 90 days. 0.24% of the stock is owned by corporate insiders.

Micron Technology Trading Down 0.1%

Shares of NASDAQ:MU opened at $746.33 on Monday. The company has a market capitalization of $841.66 billion, a P/E ratio of 35.24 and a beta of 1.91. Micron Technology, Inc. has a 1 year low of $84.68 and a 1 year high of $747.21. 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 business's 50 day simple moving average is $435.84 and its 200 day simple moving average is $348.07.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a dividend of $0.15 per share. 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 of this dividend was Monday, March 30th. Micron Technology's dividend payout ratio (DPR) is currently 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

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.

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