Lyell Wealth Management LP Lowers Stock Position in Micron Technology, Inc. $MU

Lyell Wealth Management LP cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,455 shares of the semiconductor manufacturer’s stock after selling 962 shares during the period. Lyell Wealth Management LP’s holdings in Micron Technology were worth $2,413,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CSM Advisors LLC purchased a new stake in Micron Technology during the fourth quarter worth $19,219,000. Legacy Capital Wealth Management LLC purchased a new stake in Micron Technology during the fourth quarter worth $892,000. Gateway Wealth Partners LLC acquired a new position in Micron Technology during the fourth quarter worth $232,000. Picton Mahoney Asset Management acquired a new position in Micron Technology during the fourth quarter worth $9,625,000. Finally, Atlanta Consulting Group Advisors LLC acquired a new position in Micron Technology during the fourth quarter worth $362,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Key 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

Analysts Set New Price Targets

MU has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Weiss Ratings restated a “buy (b)” rating on shares of Micron Technology in a research report on Tuesday, May 12th. Morgan Stanley upped their price objective on shares of Micron Technology from $520.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 3rd. Deutsche Bank Aktiengesellschaft increased their target price on shares of Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Finally, Stifel Nicolaus increased their target price on shares of Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. Five 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 stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $737.63.

Insider Activity

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 shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 sale, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 146,000 shares of company stock worth $85,486,715 in the last ninety days. 0.24% of the stock is owned by insiders.

Micron Technology Trading Up 11.7%

Shares of MU stock opened at $995.87 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market cap of $1.12 trillion, a PE ratio of 47.02 and a beta of 2.16. The company has a 50-day moving average of $665.31 and a two-hundred day moving average of $459.87. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,089.29.

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

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a $0.15 dividend. This represents a $0.60 annualized dividend 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 of this dividend was Monday, March 30th. Micron Technology’s dividend payout ratio is 2.83%.

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.