Micron Technology, Inc. $MU Shares Sold by Naples Global Advisors LLC

Key Points

• Naples Global Advisors LLC cut its Micron Technology stake by 8.8% in the fourth quarter, selling 3,526 shares and leaving it with 36,765 shares worth about $10.5 million.
• Micron continues to attract strong institutional interest overall, with hedge funds and other investors actively adjusting positions and 80.84% of the stock held by institutions.
• The stock has been supported by upbeat market and analyst sentiment tied to AI-driven memory demand, with Micron hitting a fresh 52-week high and multiple firms raising price targets.

Naples Global Advisors LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 8.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,765 shares of the semiconductor manufacturer's stock after selling 3,526 shares during the period. Micron Technology accounts for approximately 0.8% of Naples Global Advisors LLC's portfolio, making the stock its 27th largest position. Naples Global Advisors LLC's holdings in Micron Technology were worth $10,497,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Elevation Wealth Partners LLC grew its stake in shares of Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock worth $27,000 after purchasing an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its stake in shares of Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 96 shares in the last quarter. Joseph Group Capital Management acquired a new position in shares of Micron Technology during the fourth quarter worth $31,000. Luken Investment Analytics LLC acquired a new position in shares of Micron Technology during the fourth quarter worth $31,000. Finally, GHP Investment Advisors Inc. grew its stake in shares of Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

More Micron Technology News

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What's Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction on Friday, May 1st. The shares were 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 of the company's stock, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 104,000 shares of company stock worth $45,458,400 over the last 90 days. Corporate insiders own 0.24% of the company's stock.

Micron Technology Stock Performance

NASDAQ MU opened at $746.33 on Monday. 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, Inc. has a 1 year low of $84.68 and a 1 year high of $747.21. The company has a market capitalization of $841.66 billion, a PE ratio of 35.24 and a beta of 1.91. The company has a fifty day moving average of $435.84 and a two-hundred day moving average of $348.07.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. This is a boost from Micron Technology's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology's payout ratio is currently 2.83%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on MU. Wells Fargo & Company boosted their target price on shares of Micron Technology from $470.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. UBS Group boosted their target price on shares of Micron Technology from $510.00 to $535.00 and gave the stock a "buy" rating in a research note on Wednesday, April 8th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Micron Technology in a research note on Thursday, January 29th. Cantor Fitzgerald boosted their target price on shares of Micron Technology from $450.00 to $700.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. Finally, Summit Insights downgraded shares of Micron Technology from a "buy" rating to a "hold" rating in a research note 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 company's stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $478.24.

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.

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.