Micron Technology, Inc. $MU Shares Purchased by Kovack Advisors Inc.

Key Points

• Kovack Advisors Inc. more than doubled its Micron stake in the fourth quarter, increasing its position by 132.7% to 13,764 shares valued at about $3.93 million.
• Wall Street remains broadly upbeat on Micron, with multiple firms raising price targets; the consensus rating is Buy and the average target price stands at $737.63.
• Micron posted a strong quarterly beat, reporting $12.20 EPS versus $9.19 expected and $23.86 billion in revenue, while also raising its dividend to $0.15 per share.

Kovack Advisors Inc. increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 132.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,764 shares of the semiconductor manufacturer's stock after buying an additional 7,849 shares during the quarter. Kovack Advisors Inc.'s holdings in Micron Technology were worth $3,928,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. High Note Wealth LLC boosted its stake in Micron Technology by 65.4% during the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC increased its stake in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after purchasing an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. increased its stake in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 96 shares during the period. Joseph Group Capital Management purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $31,000. Finally, Luken Investment Analytics LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Wells Fargo & Company increased their price objective on Micron Technology from $550.00 to $1,220.00 and gave the stock an "overweight" rating in a research report on Monday. The Goldman Sachs Group lifted their target price on Micron Technology from $400.00 to $900.00 and gave the company a "neutral" rating in a research note on Wednesday. KeyCorp boosted their target price on Micron Technology from $450.00 to $600.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Finally, Summit Insights cut Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 19th. Five research 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 company. Based on data from MarketBeat, Micron Technology has a consensus rating of "Buy" and an average target price of $737.63.

Micron Technology Stock Performance

NASDAQ MU opened at $995.87 on Friday. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 47.02 and a beta of 2.16. The business's 50 day moving average is $665.31 and its two-hundred day moving average is $459.87. Micron Technology, Inc. has a 12-month low of $103.38 and a 12-month high of $1,089.29. 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 (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share 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 firm had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. During the same period in the previous year, the business earned $1.56 earnings per share. The company's revenue for the quarter was up 196 compared to the same quarter last year. Research analysts expect that Micron Technology, Inc. will post 59.23 EPS for the current year.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid 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 of this dividend was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology's dividend payout ratio is currently 2.83%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 37,439 shares of the company's stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $960.38, for a total transaction of $35,955,666.82. Following the transaction, the chief executive officer directly owned 387,064 shares in the company, valued at approximately $371,728,524.32. This represents a 8.82% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the transaction, the executive vice president directly owned 224,021 shares of the company's stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 146,000 shares of company stock worth $85,486,715 in the last ninety days. Corporate insiders own 0.24% of the company's stock.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

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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