Avalon Global Asset Management LLC Reduces Stake in Micron Technology, Inc. $MU

Avalon Global Asset Management LLC reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 110,560 shares of the semiconductor manufacturer’s stock after selling 10,000 shares during the period. Micron Technology accounts for approximately 5.1% of Avalon Global Asset Management LLC’s portfolio, making the stock its 3rd largest position. Avalon Global Asset Management LLC’s holdings in Micron Technology were worth $31,555,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MU. Brighton Jones LLC increased its position in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares during the period. Sivia Capital Partners LLC increased its position in Micron Technology by 21.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after buying an additional 628 shares during the period. United Bank bought a new position in Micron Technology in the 2nd quarter worth approximately $236,000. Schnieders Capital Management LLC. increased its position in shares of Micron Technology by 67.9% during the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after purchasing an additional 6,867 shares during the period. Finally, Sei Investments Co. increased its position in shares of Micron Technology by 5.6% during the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock valued at $49,987,000 after purchasing an additional 21,619 shares during the period. 80.84% of the stock is owned by institutional investors.

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.

Micron Technology Stock Performance

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

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results 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 firm had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $19.97 billion. During the same period in the prior year, the business posted $1.56 earnings per share. The business’s revenue was up 196 compared to the same quarter last year. As a group, analysts predict that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Wolfe Research boosted their price objective on Micron Technology from $550.00 to $1,250.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays boosted their price objective on Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. UBS Group boosted their price objective on Micron Technology from $535.00 to $1,625.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. The Goldman Sachs Group boosted their price objective on Micron Technology from $400.00 to $900.00 and gave the company a “neutral” rating in a research report on Wednesday, June 10th. Finally, Morgan Stanley boosted their price objective on Micron Technology from $520.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $788.13.

Insiders Place Their Bets

In other news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. The trade was a 24.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 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.

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.