Fideuram Intesa Sanpaolo Private Banking S.P.A. Purchases New Stake in Micron Technology, Inc. $MU

Key Points

• Fideuram Intesa Sanpaolo Private Banking opened a new position in Micron Technology during the fourth quarter, buying 18,350 shares valued at about $5.24 million.
• Institutional ownership remains very high, with 80.84% of Micron’s stock held by institutions and hedge funds. Several other funds also recently added to their stakes.
• Wall Street sentiment is bullish: multiple analysts raised price targets, and Micron now has a consensus Buy rating with a consensus target price of $518.47.

Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 18,350 shares of the semiconductor manufacturer's stock, valued at approximately $5,237,000.

Other hedge funds also recently added to or reduced their stakes in the company. REAP Financial Group LLC bought a new position in shares of Micron Technology during the third quarter worth about $25,000. High Note Wealth LLC grew its stake in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC increased its holdings in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after buying an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised 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 valued at $28,000 after buying an additional 96 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised 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 valued at $31,000 after buying an additional 52 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

More Micron Technology News

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

• Positive Sentiment: Talks between Samsung management and labor representatives reportedly broke down, raising the risk of a worker strike that could further tighten memory-chip supply and support higher DRAM/NAND prices. Micron Stock Is on a Tear. Chip Shortage Threat Looms as Samsung Strike Talks Break Down.
• Positive Sentiment: Several articles highlight a broader AI memory boom, arguing that data-center demand is creating a structural shortage and a pricing supercycle for memory makers like Micron. The Great AI Rotation: Cashing In on Data
• Positive Sentiment: Micron was featured alongside other “red hot” AI infrastructure names as investors continue favoring semiconductor suppliers tied to the AI buildout. Checking in On Red Hot AI Infrastructure Stocks
• Positive Sentiment: Analyst commentary and price-target hikes from Citi and Mizuho reinforced the bullish view on Micron, with Wall Street increasingly supportive of the stock’s AI-memory narrative. Why Micron Stock Just Popped Again
• Positive Sentiment: High-profile investors such as Stanley Druckenmiller and David Tepper were cited as buyers of Micron-related AI hardware plays, adding momentum to the bullish sentiment around the name. Billionaire Stanley Druckenmiller Dumped Every Share of Alphabet. He Bought AI Memory Stocks Up 581% to 3,467% Instead

Insider Activity

In other news, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the transaction, the director owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, 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 dated 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 $43,679,776.43. This represents a 24.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 106,000 shares of company stock worth $47,032,460. 0.24% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on MU. UBS Group lifted their target price on Micron Technology from $510.00 to $535.00 and gave the stock a "buy" rating in a research report on Wednesday, April 8th. Citigroup upped their price target on Micron Technology from $425.00 to $840.00 and gave the company a "buy" rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on Micron Technology from $360.00 to $550.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Wedbush boosted their target price on shares of Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday, March 13th. Finally, HSBC increased their target price on shares of Micron Technology from $350.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 23rd. Five equities research 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 stock. According to MarketBeat, Micron Technology presently has a consensus rating of "Buy" and a consensus target price of $518.47.

Micron Technology Trading Up 4.8%

Shares of NASDAQ MU opened at $731.99 on Thursday. Micron Technology, Inc. has a 12-month low of $90.93 and a 12-month high of $818.67. The company has a market cap of $825.49 billion, a price-to-earnings ratio of 34.56 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The stock's 50 day simple moving average is $498.20 and its 200 day simple moving average is $381.87.

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. The ex-dividend date was Monday, March 30th. This is a positive change 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 (DPR) is 2.83%.

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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