WD Rutherford LLC Acquires New Stake in Micron Technology, Inc. $MU

Key Points

• WD Rutherford LLC opened a new position in Micron Technology, buying 1,997 shares worth about $570,000 in the fourth quarter.
• Institutional interest in Micron remains strong, with several hedge funds adding to or starting positions and 80.84% of the stock now held by hedge funds and other institutional investors.
• Insiders have been selling shares recently, including an EVP and a director, with 106,000 shares sold in the last 90 days even as analysts remain broadly bullish on the stock.

WD Rutherford LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 1,997 shares of the semiconductor manufacturer's stock, valued at approximately $570,000.

Other hedge funds have also made changes to their positions in the company. iA Global Asset Management Inc. raised its holdings in shares of Micron Technology by 18.7% in the third quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer's stock valued at $24,578,000 after buying an additional 23,117 shares during the last quarter. Generation Capital Management LLC acquired a new position in shares of Micron Technology during the 3rd quarter worth about $238,000. Wealthfront Advisers LLC grew its position 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 worth $15,962,000 after buying an additional 8,489 shares during the period. Westpac Banking Corp grew its position in shares of Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock valued at $3,863,000 after purchasing an additional 16,509 shares during the period. Finally, Avanda Investment Management Pte. Ltd. bought a new stake in Micron Technology in the 3rd quarter valued at approximately $418,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction that occurred on 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 directly owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 11th. The stock was 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 owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,000 shares of company stock worth $47,032,460 in the last 90 days. 0.24% of the stock is owned by company insiders.

Key Micron Technology News

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

Micron Technology Stock Performance

NASDAQ MU opened at $724.66 on Monday. The company has a market cap of $817.22 billion, a price-to-earnings ratio of 34.21 and a beta of 1.91. The business has a 50 day moving average price of $479.09 and a 200-day moving average price of $371.73. Micron Technology, Inc. has a 52 week low of $90.93 and a 52 week high of $818.67. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

MU has been the topic of several research reports. Wedbush boosted their target price on Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday, March 13th. Summit Insights cut Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 19th. Citigroup decreased their price objective on Micron Technology from $510.00 to $425.00 and set a "buy" rating on the stock in a report on Tuesday, March 31st. HSBC increased their target price on Micron Technology from $350.00 to $500.00 and gave the stock a "buy" rating in a report on Friday, January 23rd. Finally, Stifel Nicolaus increased their target price on Micron Technology from $360.00 to $550.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Five research 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 data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $495.63.

Micron Technology Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.