NewEdge Wealth LLC Grows Position in Micron Technology, Inc. $MU

Key Points

• NewEdge Wealth LLC increased its Micron Technology stake by 93.2% in the fourth quarter, buying 9,567 additional shares and bringing its total to 19,831 shares worth about $5.66 million.
• Several other major institutions also boosted holdings, and hedge funds and other institutional investors now own 80.84% of Micron’s stock, indicating broad professional investor support.
• Analysts remain bullish on Micron, with multiple firms raising price targets and the consensus rating sitting at “Buy” with an average price target of $478.24.

NewEdge Wealth LLC raised its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 93.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,831 shares of the semiconductor manufacturer's stock after buying an additional 9,567 shares during the quarter. NewEdge Wealth LLC's holdings in Micron Technology were worth $5,660,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. State Street Corp lifted its stake 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 during the last quarter. Capital International Investors raised its holdings in shares of Micron Technology by 0.7% in the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock worth $3,910,198,000 after buying an additional 155,860 shares during the period. Invesco Ltd. raised its holdings in shares of Micron Technology by 8.0% in the third quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer's stock worth $1,609,981,000 after buying an additional 708,716 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Micron Technology by 1.9% in the third quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer's stock worth $1,217,394,000 after buying an additional 135,850 shares during the period. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

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 stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the sale, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the sale, 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 ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 104,000 shares of company stock worth $45,458,400. 0.24% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on MU. Needham & Company LLC boosted their price objective on Micron Technology from $450.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, March 19th. William Blair began coverage on Micron Technology in a report on Thursday, January 22nd. They set an "outperform" rating for the company. Phillip Securities upgraded Micron Technology to a "strong-buy" rating in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Micron Technology from $500.00 to $550.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Finally, Rosenblatt Securities restated a "buy" rating and set a $500.00 price objective on shares of Micron Technology in a report on Monday, March 16th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, Micron Technology currently has an average rating of "Buy" and a consensus price target of $478.24.

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

Micron Technology Price Performance

MU opened at $746.33 on Monday. The business has a fifty day moving average of $435.84 and a 200 day moving average of $348.07. Micron Technology, Inc. has a 52-week low of $84.68 and a 52-week high of $747.21. 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 stock has a market cap of $841.66 billion, a P/E ratio of 35.24 and a beta of 1.91.

Micron Technology Increases Dividend

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

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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