Micron Technology, Inc. $MU Shares Acquired by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,387 shares of the semiconductor manufacturer’s stock after purchasing an additional 865 shares during the period. Aptus Capital Advisors LLC’s holdings in Micron Technology were worth $4,963,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MU. High Note Wealth LLC boosted its position in shares of Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after buying an additional 34 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of Micron Technology by 295.8% in 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 in the last quarter. Steigerwald Gordon & Koch Inc. grew its stake 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 worth $28,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of Micron Technology by 91.2% during the fourth 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 stake in shares of Micron Technology during the fourth quarter valued at about $31,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Up 10.8%

MU stock opened at $1,087.99 on Tuesday. The firm has a market cap of $1.23 trillion, a PE ratio of 51.37 and a beta of 2.15. Micron Technology, Inc. has a 1 year low of $103.38 and a 1 year high of $1,097.47. The company has a fifty day simple moving average of $692.02 and a 200 day simple moving average of $471.28. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business’s revenue was up 196 compared to the same quarter last year. During the same period last year, the company earned $1.56 earnings per share. Sell-side analysts anticipate that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on MU. Melius Research began coverage on shares of Micron Technology in a research report on Monday, April 27th. They set a “buy” rating and a $700.00 price objective for the company. TD Cowen upped their price target on Micron Technology from $660.00 to $1,500.00 and gave the company a “buy” rating in a research report on Monday. Erste Group Bank downgraded Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. UBS Group raised their price objective on Micron Technology from $535.00 to $1,625.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, KeyCorp lifted their target price on Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $788.13.

More 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.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction 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 completion of the transaction, 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction 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 sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 146,000 shares of company stock worth $85,486,715. Corporate 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.