Callahan Advisors LLC Makes New Investment in Micron Technology, Inc. $MU

Callahan Advisors LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 960 shares of the semiconductor manufacturer’s stock, valued at approximately $274,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. High Note Wealth LLC boosted its holdings in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC increased 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 worth $27,000 after purchasing an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. raised its position in shares of Micron Technology by 4,800.0% in 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 in the last quarter. Joseph Group Capital Management bought a new stake in shares of Micron Technology in the fourth quarter valued at approximately $31,000. Finally, Luken Investment Analytics LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at approximately $31,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the company. Barclays raised their price objective on Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Wedbush increased their target price on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. KeyCorp raised their price target on Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. UBS Group boosted their price target on Micron Technology from $510.00 to $535.00 and gave the company a “buy” rating in a research note on Wednesday, April 8th. Finally, Wells Fargo & Company upped their price objective on shares of Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. 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’s stock. According to data from MarketBeat, Micron Technology has a consensus rating of “Buy” and an average price target of $518.47.

Key Micron Technology News

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

• Positive Sentiment: Micron shares are rising as the memory-chip rally reawakens, with Samsung’s last-minute labor deal and strike fears helping fuel expectations for tighter supply and higher pricing across the sector. Micron and SK Hynix Stocks Rise. The Memory-Chip Boom Is Back.
• Positive Sentiment: Micron is also benefiting from a wave of bullish AI-memory coverage, with investors focusing on structural demand from data centers, record revenue guidance, and strong gross-margin potential. Micron’s AI Memory Dominance Is Just Beginning
• Positive Sentiment: Several analysts are arguing Micron’s valuation still looks attractive relative to other AI chip names, reinforcing the case that the stock can keep climbing if memory demand stays hot. MU vs. AMD: Which AI Semiconductor Stock Is the Better Buy?
• Neutral Sentiment: Micron Biomedical announced the grand opening of a commercial-scale manufacturing site in Georgia, a long-term operational milestone that is not likely to move MU shares much in the short term. Micron Biomedical Celebrates the Grand Opening of Its Commercial-Scale Manufacturing Site in Georgia
• Negative Sentiment: A contrarian take notes that the easy money in this memory cycle may already be behind investors, suggesting upside could become harder to realize if pricing or demand cools. Micron: The Easy Money In This Cycle Is Behind Us

Micron Technology Stock Up 4.1%

Shares of NASDAQ MU opened at $762.10 on Friday. 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 company has a market cap of $859.45 billion, a price-to-earnings ratio of 35.98 and a beta of 1.91. Micron Technology, Inc. has a 12 month low of $90.93 and a 12 month high of $818.67. The stock has a 50-day moving average price of $505.38 and a two-hundred day moving average price of $385.66.

Micron Technology Increases Dividend

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

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of Micron Technology 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 sale, the executive vice president directly owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the transaction, the chief executive officer owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 106,000 shares of company stock worth $47,032,460. Insiders own 0.24% of the company’s stock.

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.