GR Financial Group LLC Buys New Position in Micron Technology, Inc. $MU

GR Financial Group LLC bought a new stake in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, Holdings Channel reports. The fund bought 888 shares of the semiconductor manufacturer’s stock, valued at approximately $253,000. Micron Technology makes up approximately 0.1% of GR Financial Group LLC’s portfolio, making the stock its 25th biggest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of MU. AQR Capital Management LLC lifted its holdings in Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after acquiring an additional 2,918,535 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after acquiring an additional 1,954,644 shares during the last quarter. California Public Employees Retirement System lifted its holdings in Micron Technology by 70.2% in the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock valued at $505,942,000 after acquiring an additional 1,246,773 shares during the last quarter. Voloridge Investment Management LLC raised its holdings in Micron Technology by 1,064.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock worth $218,264,000 after buying an additional 1,192,433 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Micron Technology by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock worth $1,196,427,000 after buying an additional 1,188,296 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology News Summary

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on MU shares. UBS Group boosted 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. DA Davidson started coverage on Micron Technology in a report on Monday. They issued a “buy” rating and a $1,000.00 price objective on the stock. Sanford C. Bernstein upped their target price on Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. TD Cowen upped their target price on Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Five 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. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $495.63.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the sale, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Steven J. Gomo sold 2,000 shares of the firm’s 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 completion of the sale, the director 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 disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 106,000 shares of company stock valued at $47,032,460. 0.24% of the stock is owned by corporate insiders.

Micron Technology Stock Up 4.8%

Shares of MU stock opened at $803.63 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a fifty day moving average price of $464.69 and a 200 day moving average price of $364.25. Micron Technology, Inc. has a one year low of $90.93 and a one year high of $818.67. The stock has a market cap of $906.28 billion, a P/E ratio of 37.94 and a beta of 1.91.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a dividend of $0.15 per share. This is an increase 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 was Monday, March 30th. Micron Technology’s dividend payout ratio is currently 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.