Logan Capital Management Inc. Has $19.57 Million Holdings in Micron Technology, Inc. $MU

Logan Capital Management Inc. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 1,142,550.0% in the fourth quarter, HoldingsChannel reports. The fund owned 68,559 shares of the semiconductor manufacturer’s stock after buying an additional 68,553 shares during the quarter. Micron Technology accounts for 0.8% of Logan Capital Management Inc.’s portfolio, making the stock its 26th biggest holding. Logan Capital Management Inc.’s holdings in Micron Technology were worth $19,567,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. High Note Wealth LLC lifted its holdings in shares of Micron Technology by 65.4% during the 4th 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 lifted its holdings in shares of Micron Technology by 295.8% during the 4th 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. lifted its holdings in shares of Micron Technology by 4,800.0% during the 4th 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. GHP Investment Advisors Inc. lifted its holdings in shares of Micron Technology by 91.2% during the 4th 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. Finally, Joseph Group Capital Management acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $31,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on MU shares. Deutsche Bank Aktiengesellschaft lifted their price target on Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Morgan Stanley lifted their price target on Micron Technology from $520.00 to $1,050.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Mizuho lifted their price target on Micron Technology to $800.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Needham & Company LLC raised their price objective on Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Finally, Summit Insights downgraded Micron Technology from a “buy” rating to a “hold” rating in a research note 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 issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $737.63.

Micron Technology Stock Performance

Shares of NASDAQ MU opened at $995.87 on Friday. 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 business’s 50 day moving average is $665.31 and its two-hundred day moving average is $459.87. The company has a market cap of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,089.29.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company’s revenue for the quarter was up 196 on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 59.23 EPS for the current year.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were given 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 an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.

Insiders Place Their Bets

In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction that occurred 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 transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction that occurred 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 transaction, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 146,000 shares of company stock valued at $85,486,715. Corporate insiders own 0.24% of the company’s stock.

Key Micron Technology News

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

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

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.