SmartHarvest Portfolios LLC Takes Position in Micron Technology, Inc. $MU

SmartHarvest Portfolios LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 4,073 shares of the semiconductor manufacturer’s stock, valued at approximately $1,163,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. High Note Wealth LLC boosted its position in Micron Technology by 65.4% in 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 in the last quarter. Elevation Wealth Partners LLC boosted its position in Micron Technology by 295.8% in 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 in the last quarter. Steigerwald Gordon & Koch Inc. boosted its position in 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 acquired a new position in Micron Technology in the fourth quarter valued at about $31,000. Finally, Luken Investment Analytics LLC acquired a new position in Micron Technology in the fourth quarter valued at about $31,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 11.7%

Shares of NASDAQ MU opened at $995.87 on Friday. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,089.29. The company has a market cap of $1.12 trillion, a PE ratio of 47.02 and a beta of 2.16. 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 50-day moving average of $665.31 and a two-hundred day moving average of $459.87.

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

Micron Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have commented on MU. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Susquehanna boosted their price target on shares of Micron Technology from $600.00 to $1,750.00 and gave the company a “positive” rating in a research report on Friday, May 29th. Rosenblatt Securities restated a “buy” rating and issued a $500.00 price target on shares of Micron Technology in a research report on Monday, March 16th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Micron Technology from $500.00 to $550.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. Finally, TD Cowen boosted their target price on shares of Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Five 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. According to MarketBeat.com, Micron Technology currently has an average rating of “Buy” and an average target price of $737.63.

More 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

Insider Buying and Selling at Micron Technology

In related news, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director directly owned 17,139 shares of the company’s stock, valued at $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 1st. The stock was 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 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Company 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.