Pinkerton Wealth LLC Purchases New Holdings in Micron Technology, Inc. $MU

Key Points

• Pinkerton Wealth LLC initiated a new position in Micron Technology during the fourth quarter, buying 15,621 shares valued at about $4.46 million.
• Institutional interest in Micron remains strong, with several large investors boosting stakes and 80.84% of the stock now held by institutions.
• Wall Street sentiment is broadly bullish: multiple analysts recently raised price targets, and Micron now has a Buy consensus with an average target price of $518.47.

Pinkerton Wealth LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 15,621 shares of the semiconductor manufacturer's stock, valued at approximately $4,458,000.

Several other hedge funds also recently added to or reduced their stakes in MU. AQR Capital Management LLC grew its holdings in Micron Technology by 411.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer's stock valued at $606,873,000 after purchasing an additional 2,918,535 shares during the last quarter. Vanguard Group Inc. grew its holdings in Micron Technology by 1.9% during 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. California Public Employees Retirement System grew its holdings in Micron Technology by 70.2% during the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer's stock valued at $505,942,000 after purchasing an additional 1,246,773 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in Micron Technology by 1,064.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer's stock valued at $218,264,000 after purchasing an additional 1,192,433 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Micron Technology by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock valued at $1,196,427,000 after purchasing an additional 1,188,296 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MU has been the topic of several analyst reports. Susquehanna upped their price target on shares of Micron Technology from $345.00 to $525.00 and gave the company a "positive" rating in a report on Monday, March 9th. Stifel Nicolaus upped their price target on shares of Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Cantor Fitzgerald upped 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. TD Cowen upped their target price on shares of Micron Technology from $550.00 to $660.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Finally, Citigroup upped their target price on shares of Micron Technology from $425.00 to $840.00 and gave the stock a "buy" rating in a research note on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $518.47.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares in the company, valued at $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president 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. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 106,000 shares of company stock worth $47,032,460 over the last quarter. 0.24% of the stock is currently owned by company insiders.

Micron Technology Price Performance

Shares of MU opened at $731.99 on Thursday. The company has a 50 day moving average price of $498.20 and a 200-day moving average price of $381.87. Micron Technology, Inc. has a fifty-two week low of $90.93 and a fifty-two week high of $818.67. The stock has a market capitalization of $825.49 billion, a PE ratio of 34.56 and a beta of 1.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

Micron Technology Increases Dividend

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

More Micron Technology News

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

• Positive Sentiment: Talks between Samsung management and labor representatives reportedly broke down, raising the risk of a worker strike that could further tighten memory-chip supply and support higher DRAM/NAND prices. Micron Stock Is on a Tear. Chip Shortage Threat Looms as Samsung Strike Talks Break Down.
• Positive Sentiment: Several articles highlight a broader AI memory boom, arguing that data-center demand is creating a structural shortage and a pricing supercycle for memory makers like Micron. The Great AI Rotation: Cashing In on Data
• Positive Sentiment: Micron was featured alongside other “red hot” AI infrastructure names as investors continue favoring semiconductor suppliers tied to the AI buildout. Checking in On Red Hot AI Infrastructure Stocks
• Positive Sentiment: Analyst commentary and price-target hikes from Citi and Mizuho reinforced the bullish view on Micron, with Wall Street increasingly supportive of the stock’s AI-memory narrative. Why Micron Stock Just Popped Again
• Positive Sentiment: High-profile investors such as Stanley Druckenmiller and David Tepper were cited as buyers of Micron-related AI hardware plays, adding momentum to the bullish sentiment around the name. Billionaire Stanley Druckenmiller Dumped Every Share of Alphabet. He Bought AI Memory Stocks Up 581% to 3,467% Instead

Micron Technology 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.

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