Caerus Investment Advisors LLC Buys 2,082 Shares of Micron Technology, Inc. $MU

Key Points

• Caerus Investment Advisors LLC increased its Micron Technology stake by 75.4% in the fourth quarter, buying 2,082 additional shares and bringing its total holdings to 4,842 shares worth about $1.38 million.
• Micron reported better-than-expected quarterly results, with EPS of $12.20 versus $9.19 expected and revenue of $23.86 billion versus $19.97 billion expected, while analysts now forecast 59.23 EPS for the current fiscal year.
• The stock has seen strong institutional and analyst support, with multiple hedge funds adding positions, a consensus Buy rating, and an average price target of $737.63, even as insiders recently sold shares.

Caerus Investment Advisors LLC grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 75.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,842 shares of the semiconductor manufacturer's stock after buying an additional 2,082 shares during the quarter. Caerus Investment Advisors LLC's holdings in Micron Technology were worth $1,382,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Logan Capital Management Inc. raised its position in shares of Micron Technology by 1,142,550.0% during the 4th quarter. Logan Capital Management Inc. now owns 68,559 shares of the semiconductor manufacturer's stock valued at $19,567,000 after buying an additional 68,553 shares in the last quarter. Great Valley Advisor Group Inc. raised its position in shares of Micron Technology by 6.1% during the 4th quarter. Great Valley Advisor Group Inc. now owns 11,203 shares of the semiconductor manufacturer's stock valued at $3,197,000 after buying an additional 648 shares in the last quarter. Kovack Advisors Inc. raised its position in shares of Micron Technology by 132.7% during the 4th quarter. Kovack Advisors Inc. now owns 13,764 shares of the semiconductor manufacturer's stock valued at $3,928,000 after buying an additional 7,849 shares in the last quarter. ICICI Prudential Asset Management Co Ltd raised its position in shares of Micron Technology by 5.1% during the 4th quarter. ICICI Prudential Asset Management Co Ltd now owns 18,060 shares of the semiconductor manufacturer's stock valued at $5,155,000 after buying an additional 874 shares in the last quarter. Finally, Meiji Yasuda America Inc purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $6,132,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of the firm'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 transaction, the executive vice president owned 224,021 shares of the company's stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 37,439 shares of the firm's stock in a transaction on Friday, May 29th. The stock was sold at an average price of $960.38, for a total transaction of $35,955,666.82. Following the transaction, the chief executive officer directly owned 387,064 shares of the company's stock, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $995.87 on Friday. The firm has a market cap of $1.12 trillion, a price-to-earnings ratio of 47.02 and a beta of 2.16. The company's 50 day moving average is $665.31 and its 200 day moving average is $459.87. 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 52-week low of $103.38 and a 52-week high of $1,089.29.

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

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 paid a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This is an increase from Micron Technology's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology's payout ratio is presently 2.83%.

Micron Technology News Summary

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

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent analyst reports. KeyCorp increased their price objective on shares of Micron Technology from $450.00 to $600.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Rosenblatt Securities reissued a "buy" rating and issued a $500.00 price objective on shares of Micron Technology in a research report on Monday, March 16th. Bank of America increased their price objective on shares of Micron Technology from $400.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Wedbush increased their price objective on shares of Micron Technology from $320.00 to $500.00 and gave the stock an "outperform" rating in a research report on Friday, March 13th. Finally, The Goldman Sachs Group increased their price objective on shares of Micron Technology from $400.00 to $900.00 and gave the stock a "neutral" rating in a research report on Wednesday. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy" and an average price target of $737.63.

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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