Fourier Capital Management Ltd Buys Shares of 2,810 Micron Technology, Inc. $MU

Key Points

• Fourier Capital Management opened a new position in Micron Technology, buying 2,810 shares worth about $802,000; Micron now ranks as its 20th-largest holding and about 0.9% of the portfolio.
• Wall Street sentiment remains bullish on Micron, with several analysts raising price targets, including TD Cowen to $660. The stock currently carries an average “Buy” rating and a consensus target price of about $495.63.
• Micron is benefiting from strong AI and memory-demand themes, including tight supply in HBM/DRAM and new product momentum such as a 256GB DDR5 server module. At the same time, some traders warn the stock may be extended after a sharp rally, adding near-term volatility risk.

Fourier Capital Management Ltd bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,810 shares of the semiconductor manufacturer's stock, valued at approximately $802,000. Micron Technology makes up approximately 0.9% of Fourier Capital Management Ltd's investment portfolio, making the stock its 20th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. REAP Financial Group LLC bought a new stake in Micron Technology during the 3rd quarter valued at $25,000. Elevation Wealth Partners LLC raised its position in shares of Micron Technology by 295.8% in the 4th 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. raised its position in shares of Micron Technology by 4,800.0% in the 4th 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. raised its position in shares of Micron Technology by 91.2% in the 4th 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 bought a new position in shares of Micron Technology in the 4th quarter worth $31,000. 80.84% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Needham & Company LLC boosted their price target on Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Susquehanna boosted their price target on Micron Technology from $345.00 to $525.00 and gave the stock a "positive" rating in a research report on Monday, March 9th. TD Cowen boosted 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. Morgan Stanley boosted their price target on Micron Technology from $350.00 to $450.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 11th. Finally, Summit Insights downgraded Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of "Buy" and an average target price of $495.63.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Analysts and market commentators say Micron is benefiting from surging demand for HBM, DRAM and AI infrastructure memory, with supply still tight. BofA Sees More Room for Micron's AI Rally
• Positive Sentiment: Micron is being highlighted as a direct AI winner, with articles arguing the company is still early in the AI cycle rather than near the top of it. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI 'Parking Lot'— It Is 'Not Late' To Get In
• Positive Sentiment: Fresh product momentum also supports the bull case, including sampling of a faster 256GB DDR5 server module for AI and data-center workloads. Micron Redefines AI Performance With Sampling of 256GB DDR5 Server Module
• Neutral Sentiment: Some investors are also watching Micron’s sharp run and warning that the stock may be extended after a huge rally, which could mean near-term volatility even if the long-term story remains strong. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: A broader chip-sector pullback and profit-taking briefly weighed on MU earlier in the week as traders worried the memory-supercycle trade had run too far, too fast. Why Sandisk, Micron stock are plunging upto 9% on Tuesday

Micron Technology Stock Up 4.8%

Shares of MU opened at $803.63 on Thursday. Micron Technology, Inc. has a 52 week low of $90.93 and a 52 week high of $818.67. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $906.28 billion, a price-to-earnings ratio of 37.94 and a beta of 1.91. The stock's 50-day moving average price is $464.69 and its 200-day moving average price is $364.25.

Micron Technology Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders 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 dividend yield of 0.1%. Micron Technology's dividend payout ratio (DPR) is currently 2.83%.

Insider Buying and Selling

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the transaction, the director owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,000 shares of company stock worth $47,032,460 over the last ninety days. 0.24% of the stock is owned by corporate insiders.

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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