Passumpsic Savings Bank Buys Shares of 9,352 Micron Technology, Inc. $MU

Key Points

• Passumpsic Savings Bank disclosed a new fourth-quarter stake in Micron Technology, buying 9,352 shares valued at about $2.67 million. The position makes Micron roughly 1.5% of the bank’s portfolio.
• Other institutional investors also increased their Micron holdings, and institutional ownership remains high at 80.84%. Meanwhile, Wall Street sentiment is bullish, with Micron carrying a consensus Buy rating and an average target price of about $495.63.
• Micron continues to benefit from AI-driven memory demand and tight supply in DRAM, HBM, and SSDs, though the stock has also seen insider selling and some near-term volatility concerns. The company recently raised its quarterly dividend to $0.15 per share from $0.12.

Passumpsic Savings Bank purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,352 shares of the semiconductor manufacturer's stock, valued at approximately $2,669,000. Micron Technology makes up about 1.5% of Passumpsic Savings Bank's portfolio, making the stock its 28th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Manning & Napier Advisors LLC increased its position in shares of Micron Technology by 2.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer's stock valued at $301,000 after acquiring an additional 24 shares in the last quarter. Round Rock Advisors LLC increased its position in shares of Micron Technology by 0.6% during the fourth quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer's stock valued at $1,237,000 after acquiring an additional 25 shares in the last quarter. Arlington Trust Co LLC increased its position in shares of Micron Technology by 26.3% during the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 25 shares in the last quarter. Manuka Financial LLC increased its position in shares of Micron Technology by 2.3% during the fourth quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer's stock valued at $355,000 after acquiring an additional 28 shares in the last quarter. Finally, Valued Wealth Advisors LLC increased its position in shares of Micron Technology by 20.9% during the fourth quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer's stock valued at $48,000 after acquiring an additional 29 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on MU shares. Susquehanna lifted their target price on shares of Micron Technology from $345.00 to $525.00 and gave the stock a "positive" rating in a research report on Monday, March 9th. Cantor Fitzgerald lifted their target price on shares of Micron Technology from $450.00 to $700.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Phillip Securities raised shares of Micron Technology to a "strong-buy" rating in a research report on Monday, February 2nd. Wedbush lifted their target price on shares of Micron Technology from $320.00 to $500.00 and gave the stock an "outperform" rating in a research report on Friday, March 13th. Finally, Melius Research started coverage on shares of Micron Technology in a research report on Monday, April 27th. They issued a "buy" rating and a $700.00 target price for the company. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Micron Technology presently has a consensus rating of "Buy" and a consensus target price of $495.63.

Insider Activity

In related news, Director Steven J. Gomo sold 2,000 shares of Micron Technology 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 transaction, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology 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 transaction, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 106,000 shares of company stock worth $47,032,460 in the last quarter. Corporate insiders own 0.24% of the company's stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $724.66 on Monday. The company's fifty day simple moving average is $479.09 and its 200-day simple moving average is $371.73. The stock has a market capitalization of $817.22 billion, a PE ratio of 34.21 and a beta of 1.91. Micron Technology, Inc. has a 1-year low of $90.93 and a 1-year high of $818.67. 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 announced 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. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date 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 presently 2.83%.

Micron Technology News Roundup

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

• Positive Sentiment: Analysts raised Micron’s earnings estimates, reinforcing expectations that AI-driven memory demand will keep boosting profits. Micron Technology stock report
• Positive Sentiment: Multiple articles highlight tight memory supply and surging demand for HBM, DRAM and SSDs, which supports Micron’s pricing power. Zacks Investment Ideas feature highlights: Micron, Sandisk and Nvidia
• Positive Sentiment: Micron continues to be viewed as a major beneficiary of the AI infrastructure buildout, with analysts and commentators floating much higher valuation targets. Here's Why Micron Can Reach a $1 Trillion Market Cap This Year
• Neutral Sentiment: Some commentary says Micron’s recent surge has made the stock vulnerable to volatility and profit-taking after the sharp advance. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: Renewed uncertainty around U.S.-China chip policy is pressuring semiconductor stocks and dragging Micron lower in the near term. Why Micron Stock Just Dropped
• Negative Sentiment: A director sold shares this week, which may add a small overhang even though the transaction looks routine. Steven J. Gomo insider sale

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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