Jessup Wealth Management Inc Lowers Holdings in Micron Technology, Inc. $MU

Key Points

• Jessup Wealth Management cut its Micron stake by 16.6% in Q4, selling 3,488 shares and leaving it with 17,536 shares worth about $5.0 million.
• Micron remains heavily owned by institutions, with hedge funds and other institutional investors holding 80.84% of the stock; major holders like Vanguard and State Street also increased positions.
• Analysts are broadly bullish on MU, with a consensus Buy rating and an average price target of $707.63, while several firms have recently raised targets as the company benefits from AI-memory demand.

Jessup Wealth Management Inc trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 17,536 shares of the semiconductor manufacturer's stock after selling 3,488 shares during the quarter. Micron Technology accounts for approximately 1.7% of Jessup Wealth Management Inc's investment portfolio, making the stock its 20th biggest holding. Jessup Wealth Management Inc's holdings in Micron Technology were worth $5,005,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Micron Technology by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. State Street Corp boosted its holdings in Micron Technology by 0.6% in the third quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer's stock valued at $8,643,613,000 after purchasing an additional 285,582 shares during the last quarter. Capital International Investors boosted its holdings in Micron Technology by 0.7% in the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock valued at $3,910,198,000 after purchasing an additional 155,860 shares during the last quarter. Norges Bank purchased a new stake in Micron Technology in the fourth quarter valued at $6,433,456,000. Finally, Invesco Ltd. boosted its holdings in Micron Technology by 8.0% in the third quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer's stock valued at $1,609,981,000 after purchasing an additional 708,716 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on MU shares. Needham & Company LLC upped their price target on shares of Micron Technology from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Bank of America upped their price target on shares of Micron Technology from $400.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Melius Research started coverage on shares of Micron Technology in a report on Monday, April 27th. They issued a "buy" rating and a $700.00 price target on the stock. Rosenblatt Securities reaffirmed a "buy" rating and issued a $500.00 price target on shares of Micron Technology in a report on Monday, March 16th. Finally, Morgan Stanley upped their price target on shares of Micron Technology from $520.00 to $1,050.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. 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. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $707.63.

Micron Technology Stock Down 4.7%

MU opened at $891.88 on Thursday. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,089.29. 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 50-day moving average price of $652.14 and a 200 day moving average price of $454.31. The company has a market cap of $1.01 trillion, a PE ratio of 42.11 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. During the same quarter in the prior year, the firm earned $1.56 EPS. The company's revenue for the quarter was up 196 on a year-over-year basis. Sell-side analysts expect that Micron Technology, Inc. will post 59.12 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a dividend of $0.15 per share. This is a boost 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 payout ratio is currently 2.83%.

Insider Activity at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, 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. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 146,000 shares of company stock worth $85,486,715 in the last quarter. Company insiders own 0.24% of the company's stock.

Micron Technology News Summary

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

• Positive Sentiment: Micron continues to benefit from strong AI-memory demand, with multiple recent articles highlighting HBM, server DRAM, and SSD exposure as key drivers of the company’s growth. Micron's Parabolic Run May Have More Room To Go
• Positive Sentiment: Analysts remain broadly constructive: Goldman Sachs and Wells Fargo both raised price targets, reinforcing the view that earnings and AI demand can still support further upside. Micron Technology To $900? Here Are 10 Top Analyst Forecasts For Wednesday
• Positive Sentiment: Micron also announced it selected Bechtel for the first phase of its New York semiconductor campus, a sign that its U.S. manufacturing expansion is moving forward. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project
• Neutral Sentiment: Micron added a high-profile AI/cloud executive, Dr. Alexis Black Björlin, to its board of directors, which supports the company’s strategic positioning but is not a near-term financial catalyst. Micron Appoints Alexis Black Björlin to Board of Directors
• Neutral Sentiment: Several upbeat commentary pieces and momentum screens continue to frame MU as a top AI-infrastructure winner, but these are largely sentiment-driven rather than new operational disclosures. Micron & 2 Momentum Stocks to Buy Now for Explosive Upside
• Negative Sentiment: Shares are being dragged lower along with other AI hardware names as investors react to Super Micro’s stock sale, hotter inflation data, and geopolitical tensions, sparking a broader selloff in semiconductors. Stock Market Today, June 10: Super Micro Computer, Nvidia, Micron Fall as Risk-Off Mood Intensifies
• Negative Sentiment: The stock’s strong run has also left it vulnerable to profit-taking, with some analysts warning that expectations are very high heading into Micron’s June 24 earnings report. Is Micron’s Stock Price Dip a Buying Opportunity?

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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