Heritage Wealth Management Inc. CA Purchases Shares of 1,208 Micron Technology, Inc. $MU

Heritage Wealth Management Inc. CA bought a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 1,208 shares of the semiconductor manufacturer’s stock, valued at approximately $345,000.

A number of other institutional investors and hedge funds have also bought and sold shares of MU. Vanguard Group Inc. increased its holdings in shares of Micron Technology by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after buying an additional 1,954,644 shares during the period. State Street Corp boosted its position in Micron Technology by 0.6% during the 3rd quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock valued at $8,643,613,000 after buying an additional 285,582 shares during the period. Capital International Investors lifted its position in shares of Micron Technology by 0.7% in the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares during the period. Invesco Ltd. lifted its position in shares of Micron Technology by 8.0% in the 3rd quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock worth $1,609,981,000 after purchasing an additional 708,716 shares during the period. Finally, Legal & General Group Plc lifted its position in shares of Micron Technology by 1.9% in the 3rd quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer’s stock worth $1,217,394,000 after purchasing an additional 135,850 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 106,000 shares of company stock worth $47,032,460. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Stock Up 4.8%

NASDAQ MU opened at $803.63 on Thursday. The company has a market capitalization of $906.28 billion, a P/E ratio of 37.94 and a beta of 1.91. The stock has a 50 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 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 business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a $0.15 dividend. 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 a boost from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is 2.83%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. HSBC upped their target price on shares of Micron Technology from $350.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Bank of America upped their target price on shares of Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Needham & Company LLC upped their price target 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. Finally, DA Davidson assumed coverage on shares of Micron Technology in a research report on Monday. They set a “buy” rating and a $1,000.00 price target for the company. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $495.63.

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

About Micron Technology

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.