Capital Wealth Planning LLC Buys New Stake in Micron Technology, Inc. $MU

Key Points

• Capital Wealth Planning LLC disclosed a new fourth-quarter stake in Micron Technology, buying 30,408 shares valued at about $8.68 million.
• Institutional interest in MU remains strong overall, with 80.84% of the stock owned by hedge funds and other institutions, even as several investors and insiders made recent moves in the name.
• Analysts remain broadly upbeat on Micron, with multiple firms raising price targets and the stock carrying an average Buy rating; Micron also recently beat quarterly earnings and revenue estimates by a wide margin.

Capital Wealth Planning LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund bought 30,408 shares of the semiconductor manufacturer's stock, valued at approximately $8,679,000.

Several other large investors have also recently made changes to their positions in MU. Heritage Trust Co grew its holdings in shares of Micron Technology by 9.7% during the fourth quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer's stock worth $4,289,000 after buying an additional 1,323 shares in the last quarter. Generation Capital Management LLC purchased a new stake in shares of Micron Technology during the third quarter worth $238,000. Wealthfront Advisers LLC grew its holdings 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 worth $15,962,000 after buying an additional 8,489 shares in the last quarter. Westpac Banking Corp grew its holdings 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 worth $3,863,000 after buying an additional 16,509 shares in the last quarter. Finally, Avanda Investment Management Pte. Ltd. purchased a new stake in shares of Micron Technology during the third quarter worth $418,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently issued reports on MU. Royal Bank Of Canada upped their target price on shares of Micron Technology from $425.00 to $525.00 and gave the stock an "outperform" rating in a report on Monday, March 16th. Morgan Stanley upped their target price on shares of Micron Technology from $520.00 to $1,050.00 and gave the stock an "overweight" rating in a report on Wednesday, June 3rd. DA Davidson began coverage on shares of Micron Technology in a report on Monday, May 11th. They set a "buy" rating and a $1,000.00 target price for the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Micron Technology in a report on Tuesday, May 12th. Finally, Susquehanna upped their price objective on shares of Micron Technology from $600.00 to $1,750.00 and gave the company a "positive" rating in a report on Friday, May 29th. 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's stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $707.63.

Insider Activity at Micron Technology

In other news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction dated 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 sale, the executive vice president owned 224,021 shares of the company's stock, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The stock was 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 in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 146,000 shares of company stock worth $85,486,715. 0.24% of the stock is owned by corporate insiders.

Micron Technology Trading Down 4.7%

NASDAQ MU opened at $891.88 on Thursday. The firm's 50-day moving average is $652.14 and its two-hundred day moving average is $454.31. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,089.29. 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 stock has a market capitalization of $1.01 trillion, a P/E ratio of 42.11 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating 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 company had revenue of $23.86 billion for the quarter, compared to analysts' expectations of $19.97 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. Micron Technology's revenue for the quarter was up 196 compared to the same quarter last year. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 59.12 earnings per share for the current year.

Micron Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 30th. 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%. Micron Technology's dividend payout ratio is currently 2.83%.

More Micron Technology News

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

• Positive Sentiment: Micron continues to benefit from strong AI-memory demand, with multiple recent articles highlighting HBM, server DRAM, and SSD exposure as key drivers of the company’s growth. Micron's Parabolic Run May Have More Room To Go
• Positive Sentiment: Analysts remain broadly constructive: Goldman Sachs and Wells Fargo both raised price targets, reinforcing the view that earnings and AI demand can still support further upside. Micron Technology To $900? Here Are 10 Top Analyst Forecasts For Wednesday
• Positive Sentiment: Micron also announced it selected Bechtel for the first phase of its New York semiconductor campus, a sign that its U.S. manufacturing expansion is moving forward. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project
• Neutral Sentiment: Micron added a high-profile AI/cloud executive, Dr. Alexis Black Björlin, to its board of directors, which supports the company’s strategic positioning but is not a near-term financial catalyst. Micron Appoints Alexis Black Björlin to Board of Directors
• Neutral Sentiment: Several upbeat commentary pieces and momentum screens continue to frame MU as a top AI-infrastructure winner, but these are largely sentiment-driven rather than new operational disclosures. Micron & 2 Momentum Stocks to Buy Now for Explosive Upside
• Negative Sentiment: Shares are being dragged lower along with other AI hardware names as investors react to Super Micro’s stock sale, hotter inflation data, and geopolitical tensions, sparking a broader selloff in semiconductors. Stock Market Today, June 10: Super Micro Computer, Nvidia, Micron Fall as Risk-Off Mood Intensifies
• Negative Sentiment: The stock’s strong run has also left it vulnerable to profit-taking, with some analysts warning that expectations are very high heading into Micron’s June 24 earnings report. Is Micron’s Stock Price Dip a Buying Opportunity?

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.

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