Monetary Management Group Inc. Increases Stock Holdings in Micron Technology, Inc. $MU

Key Points

• Monetary Management Group Inc. more than doubled its Micron stake in the fourth quarter, increasing holdings by 104.5% to 9,815 shares worth about $2.8 million.
• Institutional ownership remains very high, with hedge funds and other investors holding 80.84% of Micron’s stock, while several insiders have recently sold shares.
• Analysts are broadly bullish on Micron: multiple firms raised price targets, and the company reported strong quarterly results with EPS of $12.20 and revenue of $23.86 billion, both beating expectations.

Monetary Management Group Inc. increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 104.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,815 shares of the semiconductor manufacturer's stock after buying an additional 5,015 shares during the period. Monetary Management Group Inc.'s holdings in Micron Technology were worth $2,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MU. Heritage Trust Co lifted its stake in Micron Technology by 9.7% in the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer's stock worth $4,289,000 after purchasing an additional 1,323 shares in the last quarter. Generation Capital Management LLC purchased a new stake in Micron Technology in the 3rd quarter worth approximately $238,000. Wealthfront Advisers LLC lifted its stake in Micron Technology by 9.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock worth $15,962,000 after purchasing an additional 8,489 shares in the last quarter. Westpac Banking Corp lifted its stake in Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after purchasing an additional 16,509 shares in the last quarter. Finally, Avanda Investment Management Pte. Ltd. purchased a new stake in Micron Technology in the 3rd quarter worth approximately $418,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In related news, 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 transaction of $1,574,060.00. Following the sale, the director owned 17,139 shares of the company's stock, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sumit Sadana sold 24,000 shares of the company's stock in a transaction on 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 sale, the executive vice president directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 146,000 shares of company stock worth $85,486,715 in the last ninety days. Company insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Raymond James Financial raised their price objective on shares of Micron Technology from $530.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Wedbush raised their price objective on shares of Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, March 13th. Weiss Ratings restated a "buy (b)" rating on shares of Micron Technology in a research report on Tuesday, May 12th. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Finally, The Goldman Sachs Group raised their price objective on shares of Micron Technology from $360.00 to $400.00 and gave the company a "neutral" rating in a research report on Thursday, March 19th. Five research 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $690.97.

Micron Technology Stock Up 9.9%

MU opened at $949.28 on Tuesday. 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 firm has a 50 day moving average price of $629.16 and a 200-day moving average price of $444.45. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,089.29. The stock has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 44.82 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating 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 analysts' expectations of $19.97 billion. During the same period in the previous year, the company earned $1.56 earnings per share. The firm's quarterly revenue was up 196 on a year-over-year basis. Equities research analysts forecast that Micron Technology, Inc. will post 58.79 earnings per share for the current year.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a dividend of $0.15 per share. 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. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology's payout ratio is currently 2.83%.

Micron Technology News Summary

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

• Positive Sentiment: Micron shares are rebounding as investors buy the dip in semiconductor and memory stocks after Friday’s selloff, with the AI memory trade still viewed as strong. Why Micron stock is surging today?
• Positive Sentiment: Wells Fargo raised its price target on Micron to $1,220 from $550 and kept an overweight rating, reinforcing bullish sentiment. Benzinga report
• Positive Sentiment: Cantor Fitzgerald boosted its target to $1,500 from $700 and reiterated an overweight rating, suggesting more upside if memory demand stays strong. Benzinga report
• Positive Sentiment: Analysts and traders are positioning for a potentially large move around Micron’s June 24 earnings report, with options pricing implying a big swing. Micron’s Q3 Earnings on June 24
• Neutral Sentiment: Recent commentary says Micron’s rally has been driven by the broader AI/memory supercycle narrative, but some articles warn the stock has already run far and remains volatile. After Surging 918%, Is Micron Stock Still a Buy?
• Negative Sentiment: Some analysts caution that Micron and the memory trade remain vulnerable if macro conditions or AI demand expectations weaken, highlighting the stock’s cyclical risk. Is Micron Quietly Preparing for the Collapse in AI Demand?

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.

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.