Thoroughbred Financial Services LLC Has $15.49 Million Stake in Micron Technology, Inc. $MU

Key Points

• Thoroughbred Financial Services LLC increased its Micron Technology stake by 12.8% in Q4, ending with 54,278 shares valued at about $15.49 million.
• Micron is drawing strong bullish attention from analysts and investors thanks to AI-driven demand, memory shortages, and robust earnings that beat expectations by a wide margin.
• The stock has surged to a $1.05 trillion market cap, but some investors are warning it may be getting expensive after a big run, especially with insider selling and memory-cycle risks in the background.

Thoroughbred Financial Services LLC increased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 12.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 54,278 shares of the semiconductor manufacturer's stock after purchasing an additional 6,177 shares during the period. Micron Technology comprises about 0.9% of Thoroughbred Financial Services LLC's investment portfolio, making the stock its 27th biggest holding. Thoroughbred Financial Services LLC's holdings in Micron Technology were worth $15,491,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Generation Capital Management LLC acquired a new stake in shares of Micron Technology during the 3rd quarter valued at $238,000. Wealthfront Advisers LLC boosted its stake in shares of Micron Technology by 9.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock valued at $15,962,000 after buying an additional 8,489 shares during the period. Westpac Banking Corp boosted its stake in shares of Micron Technology by 251.0% during the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock valued at $3,863,000 after buying an additional 16,509 shares during the period. Avanda Investment Management Pte. Ltd. acquired a new stake in shares of Micron Technology during the 3rd quarter valued at $418,000. Finally, Wellington Management Group LLP boosted its stake in shares of 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 buying an additional 1,188,296 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology News Roundup

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

• Positive Sentiment: UBS and other analysts turned increasingly bullish, arguing Micron is one of the biggest AI winners and has more room to run as memory shortages and AI data-center demand remain strong.
• Positive Sentiment: Micron crossed the $1 trillion market-cap milestone, a symbolic validation of the stock’s massive re-rating on AI-driven demand for DRAM and HBM memory chips.
• Positive Sentiment: Recent earnings and guidance were exceptionally strong, with revenue and EPS well above expectations and management pointing to very high gross margins, which supports optimism about continued cash-flow growth.
• Positive Sentiment: Analysts highlighted that long-term supply contracts and persistent chip shortages may keep pricing favorable well into the next few years, reducing the usual cyclicality investors fear in memory chips.
• Neutral Sentiment: Micron also announced it will report fiscal third-quarter results on June 24, keeping attention on whether this momentum can be sustained.
• Negative Sentiment: Some commentary warned the stock may be getting expensive after its huge run, and insider selling plus the risk of a future memory-cycle downturn could eventually pressure sentiment.

Insider Activity

In related news, 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 value of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the business's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 106,000 shares of company stock worth $47,032,460. Insiders own 0.24% of the company's stock.

Micron Technology Stock Performance

Shares of MU opened at $928.41 on Thursday. The company has a market capitalization of $1.05 trillion, a PE ratio of 43.83 and a beta of 1.91. Micron Technology, Inc. has a one year low of $92.22 and a one year high of $956.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The company's fifty day moving average price is $538.07 and its 200 day moving average price is $402.54.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. The firm had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business's quarterly revenue was up 196 on a year-over-year basis. During the same quarter last year, the firm posted $1.56 EPS. As a group, analysts expect that Micron Technology, Inc. will post 57.82 earnings per share for the current year.

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 issued a $0.15 dividend. This is a boost from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology's payout ratio is 2.83%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MU. Barclays raised their price target on shares of Micron Technology from $450.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Citigroup raised their price target on shares of Micron Technology from $425.00 to $840.00 and gave the company a "buy" rating in a report on Tuesday, May 19th. JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Wells Fargo & Company raised their price target on shares of Micron Technology from $470.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Finally, Susquehanna raised 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. Five research 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.com, Micron Technology currently has a consensus rating of "Buy" and a consensus target price of $566.47.

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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