Convergence Investment Partners LLC Raises Stock Position in Micron Technology, Inc. $MU

Convergence Investment Partners LLC lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 2,177.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 34,204 shares of the semiconductor manufacturer’s stock after purchasing an additional 32,702 shares during the period. Micron Technology accounts for 1.9% of Convergence Investment Partners LLC’s portfolio, making the stock its 4th largest holding. Convergence Investment Partners LLC’s holdings in Micron Technology were worth $9,762,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the company. Manning & Napier Advisors LLC increased its stake in shares of Micron Technology by 2.4% during the 4th quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer’s stock worth $301,000 after purchasing an additional 24 shares during the last quarter. Round Rock Advisors LLC increased its stake in shares of Micron Technology by 0.6% during the 4th quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer’s stock worth $1,237,000 after purchasing an additional 25 shares during the last quarter. Arlington Trust Co LLC increased its stake in shares of Micron Technology by 26.3% during the 4th quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer’s stock worth $34,000 after purchasing an additional 25 shares during the last quarter. Manuka Financial LLC increased its stake in shares of Micron Technology by 2.3% during the 4th quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer’s stock worth $355,000 after purchasing an additional 28 shares during the last quarter. Finally, Valued Wealth Advisors LLC increased its stake in shares of Micron Technology by 20.9% during the 4th quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer’s stock worth $48,000 after purchasing an additional 29 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. HSBC upped their price target on shares of Micron Technology from $350.00 to $500.00 and gave the company a “buy” rating in a research note on Friday, January 23rd. Morgan Stanley upped their price target on shares of Micron Technology from $350.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Summit Insights lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, DA Davidson started coverage on shares of Micron Technology in a research note on Monday, May 11th. They issued a “buy” rating and a $1,000.00 price target on the stock. 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. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and an average price target of $495.63.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $724.66 on Friday. The company’s 50 day moving average price is $479.09 and its two-hundred day moving average price is $370.67. Micron Technology, Inc. has a 12-month low of $90.93 and a 12-month high of $818.67. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $817.22 billion, a PE ratio of 34.21 and a beta of 1.91.

Micron Technology Increases Dividend

The company also recently declared 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. 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. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s payout ratio is currently 2.83%.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Analysts raised Micron’s earnings estimates, reinforcing expectations that AI-driven memory demand will keep boosting profits. Micron Technology stock report
• Positive Sentiment: Multiple articles highlight tight memory supply and surging demand for HBM, DRAM and SSDs, which supports Micron’s pricing power. Zacks Investment Ideas feature highlights: Micron, Sandisk and Nvidia
• Positive Sentiment: Micron continues to be viewed as a major beneficiary of the AI infrastructure buildout, with analysts and commentators floating much higher valuation targets. Here’s Why Micron Can Reach a $1 Trillion Market Cap This Year
• Neutral Sentiment: Some commentary says Micron’s recent surge has made the stock vulnerable to volatility and profit-taking after the sharp advance. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: Renewed uncertainty around U.S.-China chip policy is pressuring semiconductor stocks and dragging Micron lower in the near term. Why Micron Stock Just Dropped
• Negative Sentiment: A director sold shares this week, which may add a small overhang even though the transaction looks routine. Steven J. Gomo insider sale

Insider Activity

In other news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 106,000 shares of company stock worth $47,032,460. 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.