GFS Advisors LLC Makes New $2 Million Investment in Micron Technology, Inc. $MU

Key Points

• GFS Advisors LLC opened a new position in Micron Technology during the fourth quarter, buying 6,990 shares worth about $2.0 million.
• Micron reported a strong latest quarter, with EPS of $12.20 beating estimates and revenue of $23.86 billion topping expectations, while analysts now forecast continued robust earnings growth this year.
• Wall Street remains largely upbeat on Micron: several firms raised price targets, and the stock currently carries a Buy consensus rating with an average target of $690.97.

GFS Advisors LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,990 shares of the semiconductor manufacturer's stock, valued at approximately $1,995,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after acquiring an additional 976 shares during the last quarter. Sivia Capital Partners LLC increased its stake in shares of Micron Technology by 21.7% in the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock worth $435,000 after purchasing an additional 628 shares during the period. United Bank acquired a new position in shares of Micron Technology during the 2nd quarter worth about $236,000. Schnieders Capital Management LLC. lifted its position in shares of Micron Technology by 67.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer's stock worth $2,093,000 after purchasing an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Micron Technology by 5.6% during the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock valued at $49,987,000 after purchasing an additional 21,619 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $935.89 on Wednesday. The firm has a market capitalization of $1.06 trillion, a PE ratio of 44.19 and a beta of 2.16. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,089.29. The business's 50 day moving average is $640.73 and its 200-day moving average is $449.45.

Micron Technology (NASDAQ:MU - Get Free Report) last issued 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 return on equity of 41.16% and a net margin of 41.49%.The business had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. During the same period in the prior year, the company posted $1.56 earnings per share. Micron Technology's revenue was up 196 on a year-over-year basis. Sell-side analysts predict that Micron Technology, Inc. will post 58.79 earnings per share for the current year.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's payout ratio is 2.83%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Melius Research initiated coverage on Micron Technology in a report on Monday, April 27th. They issued a "buy" rating and a $700.00 target price on the stock. Citigroup upped their price target on Micron Technology from $425.00 to $840.00 and gave the stock a "buy" rating in a report on Tuesday, May 19th. Royal Bank Of Canada raised their price objective on shares of Micron Technology from $425.00 to $525.00 and gave the stock an "outperform" rating in a research note on Monday, March 16th. DA Davidson assumed coverage on shares of Micron Technology in a research note on Monday, May 11th. They set a "buy" rating and a $1,000.00 target price for the company. Finally, Summit Insights downgraded shares of Micron Technology from a "buy" rating to a "hold" rating in a report on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of "Buy" and an average price target of $690.97.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the firm's 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 completion of the transaction, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 146,000 shares of company stock worth $85,486,715. 0.24% of the stock is currently owned by company insiders.

Micron Technology News Summary

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

• Positive Sentiment: Wells Fargo raised its price target on Micron to $1,220 from $550 and maintained an overweight rating, while Cantor Fitzgerald lifted its target to $1,500, reinforcing Wall Street optimism on the company’s AI-memory growth outlook.
• Positive Sentiment: Analysts and market commentary continue to highlight a memory-chip supercycle, with long-term supply agreements and sustained AI infrastructure demand supporting Micron’s revenue and earnings potential.
• Positive Sentiment: Micron appointed Dr. Alexis Black Björlin to its board of directors, adding leadership experience in AI infrastructure, cloud platforms, and semiconductors that could strengthen strategic execution. Article Title
• Neutral Sentiment: Micron’s recent rally and extreme volatility have made the stock sensitive to any sign of weakness, and several articles noted that earnings on June 24 could either validate the AI-memory thesis or trigger a pullback if expectations are not met.
• Negative Sentiment: Short-term sentiment was also hit by a broader chip-sector correction, with memory and storage stocks falling together as investors reassessed the pace of the AI-driven advance.
• Negative Sentiment: Some commentary warned Micron’s valuation and recent gains may have moved too far too fast, making the stock vulnerable to profit-taking or disappointment if growth assumptions cool.

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.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.