RiverFront Investment Group LLC Acquires Shares of 2,304 Micron Technology, Inc. $MU

Key Points

• RiverFront Investment Group disclosed a new fourth-quarter stake in Micron Technology, buying 2,304 shares valued at about $658,000.
• Institutional ownership remains high, with 80.84% of Micron shares held by institutional investors and hedge funds, and several other firms also adding to or initiating positions.
• Analysts remain broadly bullish on Micron, with multiple price-target increases and an overall consensus rating of Buy and average target price of $495.63.

RiverFront Investment Group LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,304 shares of the semiconductor manufacturer's stock, valued at approximately $658,000.

Other institutional investors also recently bought and sold shares of the company. REAP Financial Group LLC acquired a new position in Micron Technology in the third quarter valued at $25,000. Elevation Wealth Partners LLC increased its stake in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after purchasing an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. increased its stake in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. increased its stake in Micron Technology by 91.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 52 shares during the period. Finally, Joseph Group Capital Management acquired a new position in Micron Technology in the fourth quarter valued at $31,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the company's stock in a transaction dated 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction dated 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 sale, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 106,000 shares of company stock worth $47,032,460 over the last ninety days. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MU shares. Wells Fargo & Company boosted their price target 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. Mizuho boosted their price target on shares of Micron Technology from $480.00 to $530.00 and gave the stock an "outperform" rating in a research note on Thursday, March 19th. Royal Bank Of Canada boosted their price target on shares of Micron Technology from $425.00 to $525.00 and gave the stock an "outperform" rating in a research note on Monday, March 16th. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. Finally, Needham & Company LLC boosted their price target on shares of Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Five 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. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $495.63.

Micron Technology Trading Down 6.0%

Shares of MU opened at $681.54 on Tuesday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The firm's 50-day moving average is $484.78 and its two-hundred day moving average is $374.96. Micron Technology, Inc. has a twelve month low of $90.93 and a twelve month high of $818.67. The firm has a market capitalization of $768.60 billion, a P/E ratio of 32.18 and a beta of 1.91.

Micron Technology Increases Dividend

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

Micron Technology News Roundup

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

• Positive Sentiment: Micron remains a major beneficiary of the AI boom, with reports highlighting record highs, strong demand for high-bandwidth memory (HBM), and tight supply that is supporting pricing power and a favorable revenue/margin outlook. Article Title
• Positive Sentiment: News that Samsung may face labor disruptions lifted hopes for tighter memory-chip supply, which can benefit Micron by supporting stronger industry pricing and potentially improving margins. Article Title
• Positive Sentiment: Multiple market pieces pointed to Micron as one of the standout AI trade names, reinforcing investor enthusiasm for the stock after its huge run over the past year. Article Title
• Neutral Sentiment: Several articles focused on bullish investor commentary and portfolio updates, but these were more sentiment-driven than fundamentally new, so they are unlikely to be the main driver of the stock today. Article Title
• Negative Sentiment: Micron came under pressure from a broader semiconductor sell-off and investor worries that the AI rally has pushed memory-chip valuations too far too fast. Article Title
• Negative Sentiment: Some coverage also flagged concerns about demand durability, China exposure, and the risk that memory-market conditions could weaken if AI spending cools. Article Title

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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