Income Insurance Ltd Purchases Shares of 3,441 Micron Technology, Inc. $MU

Income Insurance Ltd purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, HoldingsChannel reports. The fund purchased 3,441 shares of the semiconductor manufacturer’s stock, valued at approximately $982,000. Micron Technology accounts for 0.6% of Income Insurance Ltd’s portfolio, making the stock its 29th largest holding.

A number of other hedge funds have also recently bought and sold shares of MU. REAP Financial Group LLC bought a new stake in Micron Technology in the 3rd quarter valued at $25,000. Elevation Wealth Partners LLC boosted its holdings in Micron Technology by 295.8% in the 4th 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. boosted its holdings in Micron Technology by 4,800.0% in the 4th 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. boosted its holdings in Micron Technology by 91.2% in the 4th 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 bought a new stake in Micron Technology in the 4th quarter valued at $31,000. 80.84% of the stock is owned by institutional investors.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction dated 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 transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 104,000 shares of company stock valued at $45,458,400 in the last ninety days. Insiders own 0.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MU shares. Melius Research initiated coverage on shares of Micron Technology in a report on Monday, April 27th. They set a “buy” rating and a $700.00 price objective for the company. Needham & Company LLC lifted their target price on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Rosenblatt Securities reiterated a “buy” rating and set a $500.00 target price on shares of Micron Technology in a research report on Monday, March 16th. The Goldman Sachs Group lifted their target price on shares of Micron Technology from $360.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, March 19th. Finally, Cantor Fitzgerald lifted their target price on shares of Micron Technology from $450.00 to $700.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. 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 stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Buy” and a consensus price target of $478.24.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What’s Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Micron Technology Price Performance

Shares of Micron Technology stock opened at $746.33 on Friday. Micron Technology, Inc. has a twelve month low of $84.68 and a twelve month high of $747.21. The firm has a market cap of $841.66 billion, a P/E ratio of 35.24 and a beta of 1.91. The firm’s 50-day simple moving average is $435.84 and its 200-day simple moving average is $348.07. 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 company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend 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 payout ratio is 2.83%.

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.