Covestor Ltd Cuts Stake in Micron Technology, Inc. $MU

Covestor Ltd cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 74.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,180 shares of the semiconductor manufacturer’s stock after selling 3,355 shares during the quarter. Covestor Ltd’s holdings in Micron Technology were worth $337,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in MU. REAP Financial Group LLC purchased a new stake in shares of Micron Technology during the third quarter valued at $25,000. High Note Wealth LLC grew its holdings in shares of Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Elevation Wealth Partners LLC grew its holdings in shares of Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. grew its holdings in shares of Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in shares of Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock valued at $31,000 after buying an additional 52 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Citigroup raised its price target on Micron Technology (MU) to $840 from $425 and reiterated a buy rating, while Mizuho lifted its target to $800 with an outperform rating, signaling continued Wall Street confidence in the stock’s upside. Article Title
• Positive Sentiment: Multiple articles highlighted Micron as a standout in the AI memory trade, arguing that enterprise AI is shifting capital spending toward storage and NAND flash, which could sustain pricing power and margin expansion for Micron. Article Title
• Positive Sentiment: Investor sentiment was further supported by articles noting that Micron remains one of the market’s profitable AI-related picks and that Wall Street’s 12-month forecasts for the stock remain broadly bullish. Article Title
• Neutral Sentiment: Some commentary suggested Micron’s earlier pullback was tied to broader semiconductor weakness, valuation concerns after a big AI-driven rally, and macro worries such as higher bond yields and memory-demand uncertainty. Article Title

Analyst Ratings Changes

A number of brokerages have recently weighed in on MU. Sanford C. Bernstein boosted their price objective on shares of Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a report on Wednesday, March 18th. Needham & Company LLC boosted their price objective on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Mizuho boosted their price objective on shares of Micron Technology to $800.00 and gave the company an “outperform” rating in a report on Tuesday. Phillip Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Monday, February 2nd. Finally, DA Davidson began coverage on shares of Micron Technology in a report on Monday, May 11th. They set a “buy” rating and a $1,000.00 price objective on the stock. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $518.47.

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction 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 directly owned 224,021 shares in the company, valued at $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director owned 17,139 shares of the company’s stock, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 106,000 shares of company stock valued at $47,032,460. Company insiders own 0.24% of the company’s stock.

Micron Technology Trading Up 2.5%

NASDAQ MU opened at $698.74 on Wednesday. The company has a market capitalization of $787.99 billion, a PE ratio of 32.99 and a beta of 1.91. The company has a fifty day moving average of $491.35 and a 200 day moving average of $378.29. Micron Technology, Inc. has a 1 year low of $90.93 and a 1 year high of $818.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a dividend of $0.15 per share. This is a boost 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%. The ex-dividend date was Monday, March 30th. Micron Technology’s payout ratio is presently 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.