71 West Capital Partners Purchases New Stake in Micron Technology, Inc. $MU

71 West Capital Partners acquired a new position in Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 3,301 shares of the semiconductor manufacturer’s stock, valued at approximately $942,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. High Note Wealth LLC boosted its stake 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 acquiring an additional 34 shares during the last quarter. Elevation Wealth Partners LLC raised its position 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 acquiring an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its stake in shares of Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 96 shares during the period. GHP Investment Advisors Inc. lifted its stake in shares of Micron Technology by 91.2% in the 4th quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 52 shares during the period. Finally, Joseph Group Capital Management bought a new position in shares of Micron Technology in the 4th quarter worth $31,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MU shares. Royal Bank Of Canada lifted their price objective on Micron Technology from $525.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday. Wolfe Research raised their target price on Micron Technology from $550.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday. Raymond James Financial boosted their target price on Micron Technology from $530.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. Mizuho upped their price target on Micron Technology to $800.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Finally, Needham & Company LLC increased 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. 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 company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $788.13.

Micron Technology Price Performance

Shares of MU opened at $1,087.99 on Tuesday. The stock has a market capitalization of $1.23 trillion, a P/E ratio of 51.37 and a beta of 2.15. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,097.47. The company has a 50 day moving average of $692.02 and a 200-day moving average of $471.28. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13.

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

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend 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 2.83%.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 40,000 shares of the firm’s 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 completion of the transaction, the executive vice president directly owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director directly 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 SEC filing for this sale provides additional information. Insiders sold 146,000 shares of company stock valued at $85,486,715 over the last quarter. Insiders own 0.24% of the company’s stock.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: TD Cowen raised its price target to $1,500 and said AI-driven memory demand could support pricing strength through 2027.
• Positive Sentiment: RBC also lifted its target, citing a stronger memory cycle and continued AI demand for Micron’s DRAM and NAND products.
• Positive Sentiment: Multiple reports said memory-chip shortages and improving industry supply/demand dynamics are reinforcing a prolonged upcycle for MU.
• Positive Sentiment: The stock’s breakout to new highs is drawing additional momentum buyers and investors positioning ahead of earnings on June 24.
• Neutral Sentiment: Some market commentary notes MU has become extremely overbought after its massive run, which could lead to volatility even if the long-term outlook remains strong.
• Neutral Sentiment: Option-market data shows elevated implied volatility and bearish hedging, suggesting traders are pricing in a wide range of outcomes around earnings and other event risks.
• Negative Sentiment: A few articles warn that Micron’s rally may be too crowded and that memory margins may not stay at peak levels indefinitely, increasing pullback risk.

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.