Pure Financial Advisors LLC Has $2.02 Million Stock Position in Micron Technology, Inc. $MU

Pure Financial Advisors LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 16.4% in the 4th quarter, HoldingsChannel reports. The firm owned 7,065 shares of the semiconductor manufacturer’s stock after acquiring an additional 996 shares during the period. Pure Financial Advisors LLC’s holdings in Micron Technology were worth $2,016,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares during the period. State Street Corp grew its stake in Micron Technology by 0.6% during the third quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock worth $8,643,613,000 after purchasing an additional 285,582 shares during the period. Capital International Investors grew its stake in Micron Technology by 0.7% during the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares during the period. Invesco Ltd. grew its stake in Micron Technology by 8.0% during the third quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock worth $1,609,981,000 after purchasing an additional 708,716 shares during the period. Finally, Legal & General Group Plc grew its stake in Micron Technology by 1.9% during the third quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer’s stock worth $1,217,394,000 after purchasing an additional 135,850 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Activity

In other news, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 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 owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 104,000 shares of company stock worth $45,458,400 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 0.1%

Shares of Micron Technology stock opened at $746.33 on Monday. 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 52 week low of $84.68 and a 52 week high of $747.21. The stock has a 50 day moving average price of $435.84 and a two-hundred day moving average price of $348.07. The stock has a market capitalization of $841.66 billion, a PE ratio of 35.24 and a beta of 1.91.

Micron Technology Increases Dividend

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

Key Stories Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What’s Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Analyst Ratings Changes

Several equities research analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Erste Group Bank cut Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Wedbush raised their price objective on Micron Technology from $320.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. HSBC raised their price objective on Micron Technology from $350.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Finally, KeyCorp raised their price objective 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 given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and an average target price of $478.24.

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.