Meridian Wealth Management LLC Buys 2,636 Shares of Micron Technology, Inc. $MU

Key Points

• Meridian Wealth Management increased its Micron stake by 63.4% in the fourth quarter, buying 2,636 additional shares and bringing its total holding to 6,797 shares valued at about $1.94 million.
• Micron continues to attract broad institutional interest, with 80.84% of shares owned by institutional investors and several other firms also boosting or starting positions in the stock.
• The article also highlights positive business momentum for Micron, including shipments of a high-capacity SSD, sampling of a 256GB DDR5 server module for AI/data centers, and analyst price targets that remain broadly bullish.

Meridian Wealth Management LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 63.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,797 shares of the semiconductor manufacturer's stock after acquiring an additional 2,636 shares during the period. Meridian Wealth Management LLC's holdings in Micron Technology were worth $1,940,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in MU. REAP Financial Group LLC bought a new position in shares of Micron Technology in the 3rd quarter worth $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.

Micron Technology News Summary

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

• Positive Sentiment: Micron announced it is shipping the 245TB Micron 6600 ION SSD, the highest-capacity commercially available SSD, underscoring demand for its storage products. Article Title
• Positive Sentiment: Micron began sampling a 256GB DDR5 RDIMM for AI and data-center workloads, supporting the bullish case for memory demand. Article Title
• Positive Sentiment: Samsung labor disruption concerns could tighten global DRAM and NAND supply, improving Micron’s pricing power and margin outlook. Article Title
• Positive Sentiment: Analysts reiterated bullish views on MU, with recent Buy/Outperform calls and targets near $1,000 or higher reflecting confidence in AI-driven earnings growth. Article Title
• Neutral Sentiment: Some commentary says Micron’s sharp rally has made the stock look stretched in the short term, so traders may see near-term volatility or consolidation. Article Title
• Neutral Sentiment: Broader chip-sector weakness and profit-taking hit memory names on Tuesday, which can pressure MU despite the longer-term bullish trend. Article Title

Micron Technology Trading Down 3.6%

Shares of NASDAQ:MU opened at $766.58 on Wednesday. The business's 50-day moving average is $456.87 and its 200 day moving average is $360.05. Micron Technology, Inc. has a 1 year low of $90.93 and a 1 year high of $818.67. The firm has a market capitalization of $864.50 billion, a P/E ratio of 36.19 and a beta of 1.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology Increases Dividend

The company 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. 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. Micron Technology's dividend payout ratio is currently 2.83%.

Analysts Set New Price Targets

Several research analysts have recently commented on MU shares. Citigroup reduced 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. Royal Bank Of Canada upped their target price on Micron Technology from $425.00 to $525.00 and gave the company an "outperform" rating in a research report on Monday, March 16th. UBS Group upped their target price on Micron Technology from $510.00 to $535.00 and gave the company a "buy" rating in a research report on Wednesday, April 8th. Susquehanna upped their target price on Micron Technology from $345.00 to $525.00 and gave the company a "positive" rating in a research report on Monday, March 9th. Finally, Mizuho upped their target price on Micron Technology from $480.00 to $530.00 and gave the company an "outperform" rating in a research report on Thursday, March 19th. Five 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 currently has an average rating of "Buy" and an average price target of $495.63.

Insider Activity

In other news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president directly owned 224,021 shares of the company's stock, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction dated Friday, May 1st. The shares were 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 directly owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 104,000 shares of company stock valued at $45,458,400. Company insiders own 0.24% of the company's stock.

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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