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

Key Points

• Kingdom Financial Group LLC opened a new position in Micron Technology during the fourth quarter, buying 2,029 shares worth about $579,000.
• Institutional ownership remains very high, with hedge funds and other institutional investors holding 80.84% of Micron’s stock. Several large firms, including Vanguard and State Street, also added to their positions.
• Micron’s outlook remains broadly positive: analysts currently rate the stock a Buy on average, and recent notes highlighted strong AI-memory demand and a potential memory-chip rally as key tailwinds.

Kingdom Financial Group LLC. acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,029 shares of the semiconductor manufacturer's stock, valued at approximately $579,000.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares during the period. State Street Corp raised its holdings in shares of Micron Technology by 0.6% in the 3rd 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 in the last quarter. Capital International Investors raised its holdings in shares of Micron Technology by 0.7% in the 3rd 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 in the last quarter. Invesco Ltd. raised its holdings in shares of Micron Technology by 8.0% in the 3rd 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 in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Micron Technology by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer's stock valued at $1,217,394,000 after purchasing an additional 135,850 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction on 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 transaction, the chief executive officer directly owned 424,503 shares of the company's stock, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of the company's stock in a transaction on 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 transaction, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 106,000 shares of company stock valued at $47,032,460 in the last quarter. Insiders own 0.24% of the company's stock.

Micron Technology Price Performance

Shares of MU stock opened at $762.10 on Friday. Micron Technology, Inc. has a fifty-two week low of $90.93 and a fifty-two week high of $818.67. The firm has a market capitalization of $859.45 billion, a price-to-earnings ratio of 35.98 and a beta of 1.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The stock's 50-day simple moving average is $505.38 and its 200-day simple moving average is $385.66.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend 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 currently 2.83%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Melius Research assumed coverage on shares of Micron Technology in a report on Monday, April 27th. They issued a "buy" rating and a $700.00 price target for the company. Needham & Company LLC boosted 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. Rosenblatt Securities restated a "buy" rating and set a $500.00 price objective on shares of Micron Technology in a research note on Monday, March 16th. Mizuho upped their price objective on Micron Technology to $800.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Wedbush upped their price objective on Micron Technology from $320.00 to $500.00 and gave the stock an "outperform" rating in a research note on Friday, March 13th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $518.47.

Key Micron Technology News

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

• Positive Sentiment: Micron shares are rising as the memory-chip rally reawakens, with Samsung’s last-minute labor deal and strike fears helping fuel expectations for tighter supply and higher pricing across the sector. Micron and SK Hynix Stocks Rise. The Memory-Chip Boom Is Back.
• Positive Sentiment: Micron is also benefiting from a wave of bullish AI-memory coverage, with investors focusing on structural demand from data centers, record revenue guidance, and strong gross-margin potential. Micron's AI Memory Dominance Is Just Beginning
• Positive Sentiment: Several analysts are arguing Micron’s valuation still looks attractive relative to other AI chip names, reinforcing the case that the stock can keep climbing if memory demand stays hot. MU vs. AMD: Which AI Semiconductor Stock Is the Better Buy?
• Neutral Sentiment: Micron Biomedical announced the grand opening of a commercial-scale manufacturing site in Georgia, a long-term operational milestone that is not likely to move MU shares much in the short term. Micron Biomedical Celebrates the Grand Opening of Its Commercial-Scale Manufacturing Site in Georgia
• Negative Sentiment: A contrarian take notes that the easy money in this memory cycle may already be behind investors, suggesting upside could become harder to realize if pricing or demand cools. Micron: The Easy Money In This Cycle Is Behind Us

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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