Micron Technology, Inc. $MU Shares Sold by Avalon Global Asset Management LLC

Avalon Global Asset Management LLC cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 8.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,560 shares of the semiconductor manufacturer’s stock after selling 10,000 shares during the quarter. Micron Technology accounts for about 5.1% of Avalon Global Asset Management LLC’s investment portfolio, making the stock its 3rd largest holding. Avalon Global Asset Management LLC’s holdings in Micron Technology were worth $31,555,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. 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.

Micron Technology Stock Up 10.8%

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

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

Micron Technology Increases Dividend

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

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.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MU. Wedbush lifted their price target on Micron Technology from $320.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Citigroup lifted their price target on Micron Technology from $425.00 to $840.00 and gave the company a “buy” rating in a report on Tuesday, May 19th. UBS Group lifted their price target on Micron Technology from $535.00 to $1,625.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. 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. Finally, Melius Research began coverage on Micron Technology in a report on Monday, April 27th. They set a “buy” rating and a $700.00 price target for the company. 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.com, the stock presently has an average rating of “Buy” and an average target price of $788.13.

Insider Buying and Selling

In related news, EVP Sumit Sadana sold 24,000 shares of the firm’s 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 approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were 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 $227,643,978.78. The trade was a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,000 shares of company stock valued at $85,486,715 over the last 90 days. 0.24% of the stock is currently owned by insiders.

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.