Naples Global Advisors LLC Trims Position in Micron Technology, Inc. $MU

Naples Global Advisors LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 8.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 36,765 shares of the semiconductor manufacturer’s stock after selling 3,526 shares during the period. Micron Technology accounts for approximately 0.8% of Naples Global Advisors LLC’s portfolio, making the stock its 27th largest position. Naples Global Advisors LLC’s holdings in Micron Technology were worth $10,497,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sentry Investment Management LLC raised its holdings in shares of Micron Technology by 4.2% in the fourth quarter. Sentry Investment Management LLC now owns 2,924 shares of the semiconductor manufacturer’s stock valued at $835,000 after buying an additional 119 shares during the last quarter. Kepler Cheuvreux Suisse SA purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $16,200,000. Byrne Financial Freedom LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $6,011,000. Colonial River Investments LLC purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $441,000. Finally, Asahi Life Asset Management CO. LTD. purchased a new stake in shares of Micron Technology in the fourth quarter valued at about $1,023,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

More Micron Technology News

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MU. Phillip Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Monday, February 2nd. HSBC increased their price target on shares of Micron Technology from $350.00 to $500.00 and gave the stock a “buy” rating in a report on Friday, January 23rd. Wells Fargo & Company increased their price target on shares of Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Micron Technology from $500.00 to $550.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Finally, Stifel Nicolaus increased their price target on shares of 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 given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Micron Technology presently has an average rating of “Buy” and an average price target of $478.24.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on 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 sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 104,000 shares of company stock worth $45,458,400 over the last ninety days. 0.24% of the stock is currently owned by insiders.

Micron Technology Trading Down 0.1%

Shares of Micron Technology stock opened at $746.33 on Monday. Micron Technology, Inc. has a 12-month low of $84.68 and a 12-month high of $747.21. 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 stock has a market cap of $841.66 billion, a PE ratio of 35.24 and a beta of 1.91. The company has a 50-day moving average of $435.84 and a two-hundred day moving average of $348.07.

Micron Technology Increases Dividend

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

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.