Micron Technology (NASDAQ:MU) Director Steven Gomo Sells 2,000 Shares

Key Points

• Director Steven Gomo sold 2,000 Micron shares on May 11 at an average price of $787.03, totaling about $1.57 million. After the sale, he still held 17,139 shares, and the transaction cut his ownership by 10.45%.
• Micron stock has surged sharply, recently trading at $803.63 and near its 12-month high of $818.67, with heavy volume above average. The company’s market cap now stands at about $906.28 billion.
• Analysts remain bullish on Micron, citing strong demand for HBM, DRAM and AI infrastructure memory, plus new product momentum like its 256GB DDR5 server module. The stock carries a consensus Buy rating with an average price target of $495.63.

Micron Technology, Inc. (NASDAQ:MU - Get Free Report) Director Steven Gomo sold 2,000 shares of the stock in a transaction 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 transaction, the director directly owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Micron Technology Stock Performance

NASDAQ MU traded up $37.05 on Wednesday, hitting $803.63. 54,544,236 shares of the stock traded hands, compared to its average volume of 45,462,540. Micron Technology, Inc. has a 12 month low of $90.93 and a 12 month high of $818.67. The business's fifty day moving average is $464.69 and its two-hundred day moving average is $364.25. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market capitalization of $906.28 billion, a price-to-earnings ratio of 37.94 and a beta of 1.91.

Micron Technology Increases Dividend

The firm also recently disclosed 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. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology's dividend payout ratio is 2.83%.

Key Micron Technology News

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

• Positive Sentiment: Analysts and market commentators say Micron is benefiting from surging demand for HBM, DRAM and AI infrastructure memory, with supply still tight. BofA Sees More Room for Micron's AI Rally
• Positive Sentiment: Micron is being highlighted as a direct AI winner, with articles arguing the company is still early in the AI cycle rather than near the top of it. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI 'Parking Lot'— It Is 'Not Late' To Get In
• Positive Sentiment: Fresh product momentum also supports the bull case, including sampling of a faster 256GB DDR5 server module for AI and data-center workloads. Micron Redefines AI Performance With Sampling of 256GB DDR5 Server Module
• Neutral Sentiment: Some investors are also watching Micron’s sharp run and warning that the stock may be extended after a huge rally, which could mean near-term volatility even if the long-term story remains strong. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: A broader chip-sector pullback and profit-taking briefly weighed on MU earlier in the week as traders worried the memory-supercycle trade had run too far, too fast. Why Sandisk, Micron stock are plunging upto 9% on Tuesday

Analysts Set New Price Targets

A number of research firms have weighed in on MU. Phillip Securities upgraded Micron Technology to a "strong-buy" rating in a research report on Monday, February 2nd. William Blair began coverage on Micron Technology in a research report on Thursday, January 22nd. They set an "outperform" rating on the stock. HSBC raised their price target on Micron Technology from $350.00 to $500.00 and gave the company a "buy" rating in a research report on Friday, January 23rd. Rosenblatt Securities reiterated a "buy" rating and issued a $500.00 price objective on shares of Micron Technology in a report on Monday, March 16th. Finally, UBS Group lifted their price objective on Micron Technology from $510.00 to $535.00 and gave the stock a "buy" rating in a report on Wednesday, April 8th. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Buy" and an average price target of $495.63.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Kohmann Bosshard Financial Services LLC bought a new stake in Micron Technology during the 1st quarter valued at approximately $27,000. High Note Wealth LLC boosted its position in Micron Technology by 65.4% during the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock valued at $25,000 after acquiring an additional 34 shares in the last quarter. Elevation Wealth Partners LLC boosted its position in Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after acquiring an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. boosted its position in Micron Technology by 4,800.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 96 shares in the last quarter. Finally, Bayban bought a new stake in Micron Technology during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

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.

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