Fortem Financial Group LLC Makes New Investment in Micron Technology, Inc. $MU

Key Points

• Fortem Financial Group LLC opened a new position in Micron Technology in the fourth quarter, buying 1,474 shares valued at about $421,000.
• Institutional ownership in Micron remains high, with hedge funds and other investors holding 80.84% of the stock. Several firms also increased their stakes in recent quarters.
• Wall Street remains broadly bullish on Micron, with analysts assigning a consensus Buy rating and an average price target of $478.24, even as some insiders have sold shares recently.

Fortem Financial Group LLC purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,474 shares of the semiconductor manufacturer's stock, valued at approximately $421,000.

Other institutional investors have also added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new stake in Micron Technology in the third quarter worth about $25,000. Elevation Wealth Partners LLC boosted 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 worth $27,000 after acquiring an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. boosted its holdings in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. boosted its holdings in Micron Technology by 91.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 52 shares in the last quarter. Finally, Joseph Group Capital Management acquired a new stake in Micron Technology during the 4th quarter worth about $31,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on MU. HSBC lifted their price target on Micron Technology from $350.00 to $500.00 and gave the stock a "buy" rating in a research report on Friday, January 23rd. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Micron Technology in a research report on Thursday, January 29th. Wells Fargo & Company lifted their price target on Micron Technology from $470.00 to $550.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. TD Cowen lifted their price target on Micron Technology from $550.00 to $660.00 and gave the stock a "buy" rating in a research report on Tuesday, April 28th. Finally, Citigroup lowered their price target on Micron Technology from $510.00 to $425.00 and set a "buy" rating for the company in a research report on Tuesday, March 31st. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $478.24.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 424,503 shares of the company's stock, valued at $227,643,978.78. The trade was a 8.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the transaction, the executive vice president directly owned 224,021 shares of the company's stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 104,000 shares of company stock valued at $45,458,400 in the last quarter. 0.24% of the stock is currently owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $746.33 on Monday. The stock has a market cap of $841.66 billion, a PE ratio of 35.24 and a beta of 1.91. The business has a 50-day simple moving average of $435.84 and a 200-day simple moving average of $348.07. 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 $84.68 and a 52-week high of $747.21.

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

Key Micron Technology News

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

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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