Icon Wealth Advisors LLC Increases Stock Position in Micron Technology, Inc. $MU

Icon Wealth Advisors LLC grew its position in Micron Technology, Inc. (NASDAQ:MU) by 100.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,456 shares of the semiconductor manufacturer’s stock after purchasing an additional 730 shares during the period. Icon Wealth Advisors LLC’s holdings in Micron Technology were worth $416,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Infusive Asset Management Inc. purchased a new stake in Micron Technology during the fourth quarter worth about $4,734,000. Cornerstone Financial Management LLC purchased a new stake in Micron Technology during the fourth quarter worth about $61,000. Dymon Asia Capital Singapore PTE. LTD. purchased a new stake in Micron Technology during the fourth quarter worth about $1,662,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Micron Technology during the fourth quarter worth about $526,000. Finally, Eventide Asset Management LLC increased its holdings in Micron Technology by 24.9% during the fourth quarter. Eventide Asset Management LLC now owns 8,973 shares of the semiconductor manufacturer’s stock worth $2,625,000 after buying an additional 1,790 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Key Micron Technology News

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 Price Performance

Shares of NASDAQ:MU opened at $1,087.99 on Tuesday. 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 firm has a market capitalization of $1.23 trillion, a PE 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 price of $692.02 and a two-hundred day moving average price of $471.28.

Micron Technology (NASDAQ:MU) last issued its 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 firm had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company’s quarterly revenue was up 196 on a year-over-year basis. During the same quarter last year, the business earned $1.56 earnings per share. Equities analysts forecast that Micron Technology, Inc. will post 59.23 EPS for the current year.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders 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 dividend payout ratio (DPR) is 2.83%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction dated 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 in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 146,000 shares of company stock worth $85,486,715 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Citigroup raised their price objective on shares of Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Susquehanna raised their price objective on shares of Micron Technology from $600.00 to $1,750.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Stifel Nicolaus raised their price objective on shares of Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, KeyCorp raised their price objective on shares of Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a 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 given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $788.13.

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.