Rinkey Investments Invests $239,000 in Micron Technology, Inc. $MU

Rinkey Investments bought a new position in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 838 shares of the semiconductor manufacturer’s stock, valued at approximately $239,000.

Several other large investors have also recently made changes to their positions in MU. REAP Financial Group LLC purchased a new position in Micron Technology in the third quarter worth about $25,000. Elevation Wealth Partners LLC grew its position in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its position in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. GHP Investment Advisors Inc. grew its position in Micron Technology by 91.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 52 shares in the last quarter. Finally, Joseph Group Capital Management purchased a new position in Micron Technology in the fourth quarter worth about $31,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

MU opened at $795.33 on Tuesday. The business has a fifty day moving average of $449.78 and a 200 day moving average of $356.05. 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. The stock has a market cap of $896.92 billion, a P/E ratio of 37.55 and a beta of 1.91.

Micron Technology Increases Dividend

The firm 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 is a positive change from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology’s payout ratio is 2.83%.

Analyst Ratings Changes

MU has been the subject of several recent research reports. Barclays lifted their price target on Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Royal Bank Of Canada lifted their price target on Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, March 16th. Deutsche Bank Aktiengesellschaft lifted their price target on Micron Technology from $500.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Cantor Fitzgerald lifted their price target on Micron Technology from $450.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Finally, Sanford C. Bernstein lifted their price target on Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Micron Technology has an average rating of “Buy” and a consensus target price of $478.24.

Micron Technology News Summary

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

• Positive Sentiment: Micron is benefiting from a powerful AI memory supercycle, with multiple articles citing strong demand for DRAM, NAND, and high-bandwidth memory as hyperscale data center spending accelerates. Micron Rallies as Memory Chip Shortage Fuels AI Demand
• Positive Sentiment: Wall Street sentiment remains constructive, with DA Davidson reaffirming a buy rating and Deutsche Bank reportedly raising its price target to $1,000, reinforcing the view that earnings estimates may still be moving higher. DA Davidson buy rating reaffirmed
• Positive Sentiment: Reports that Samsung could face production disruption from labor issues are boosting Micron, since any supply hit at a major rival could lift memory prices and improve Micron’s margins. Micron, SK Hynix Stocks Rise. Thank Trouble at Samsung.
• Positive Sentiment: Investor enthusiasm is also being amplified by strong ETF and options activity tied to chip stocks, suggesting traders expect the rally to continue and are positioning for more upside in MU. Micron Stock Has Been Soaring—Traders Are Pricing In More Big Moves This Week
• Neutral Sentiment: Micron is increasingly viewed as a major AI stock and a top trader favorite, which can support momentum, but it also raises the risk of near-term volatility if expectations become too stretched. 5 AI Stocks Wall Street Is Watching Now: Nvidia, Micron, and More
• Negative Sentiment: One cautionary note is that the stock’s rapid run-up has drawn “overbought” warnings and comments about extreme sentiment, so any disappointment on earnings, margins, or supply-chain execution could trigger profit-taking. Micron Stock: Overbought or Unstoppable Force?

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The transaction 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 the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 104,000 shares of company stock worth $45,458,400 over the last quarter. Company insiders own 0.24% of the company’s stock.

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.