Envestnet Portfolio Solutions Inc. Trims Holdings in Micron Technology, Inc. $MU

Key Points

• Envestnet Portfolio Solutions cut its Micron Technology stake by 29.9% in the fourth quarter, selling 19,092 shares and leaving it with 44,722 shares valued at about $12.8 million.
• Micron’s stock has seen strong momentum, opening at $698.74 with a market cap near $788 billion, while analysts remain broadly bullish. The consensus rating is Buy, with several firms recently lifting price targets as high as $840.
• The company also raised its quarterly dividend to $0.15 from $0.12, though the yield remains low at 0.1%. Meanwhile, insiders have been selling shares, including notable transactions by EVP Sumit Sadana and EVP April S. Arnzen.

Envestnet Portfolio Solutions Inc. reduced its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 29.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,722 shares of the semiconductor manufacturer's stock after selling 19,092 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Micron Technology were worth $12,764,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of MU. REAP Financial Group LLC purchased a new position in shares of Micron Technology during the third quarter worth $25,000. High Note Wealth LLC boosted its position in shares of Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 34 shares during the period. Elevation Wealth Partners LLC increased its stake in Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock worth $27,000 after purchasing an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. increased its stake in Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 96 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 52 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $698.74 on Wednesday. The company has a 50-day simple moving average of $491.35 and a 200-day simple moving average of $378.29. Micron Technology, Inc. has a one year low of $90.93 and a one year high of $818.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The stock has a market capitalization of $787.99 billion, a price-to-earnings ratio of 32.99 and a beta of 1.91.

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

Insider Buying and Selling

In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of the company'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 in the company, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 106,000 shares of company stock valued at $47,032,460. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of analysts have issued reports on MU shares. Citigroup boosted their price target on shares of Micron Technology from $425.00 to $840.00 and gave the stock a "buy" rating in a research note on Tuesday. Stifel Nicolaus raised their price target on shares of Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Mizuho raised their price target on shares of Micron Technology to $800.00 and gave the company an "outperform" rating in a research report on Tuesday. Melius Research started coverage on shares of Micron Technology in a research report on Monday, April 27th. They issued a "buy" rating and a $700.00 price target for the company. Finally, Phillip Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Monday, February 2nd. 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.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $518.47.

More Micron Technology News

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

• Positive Sentiment: Citigroup raised its price target on Micron Technology (MU) to $840 from $425 and reiterated a buy rating, while Mizuho lifted its target to $800 with an outperform rating, signaling continued Wall Street confidence in the stock’s upside. Article Title
• Positive Sentiment: Multiple articles highlighted Micron as a standout in the AI memory trade, arguing that enterprise AI is shifting capital spending toward storage and NAND flash, which could sustain pricing power and margin expansion for Micron. Article Title
• Positive Sentiment: Investor sentiment was further supported by articles noting that Micron remains one of the market’s profitable AI-related picks and that Wall Street’s 12-month forecasts for the stock remain broadly bullish. Article Title
• Neutral Sentiment: Some commentary suggested Micron’s earlier pullback was tied to broader semiconductor weakness, valuation concerns after a big AI-driven rally, and macro worries such as higher bond yields and memory-demand uncertainty. Article Title

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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