Mainsail Asset Management LLC Takes $225,000 Position in Micron Technology, Inc. $MU

Mainsail Asset Management LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 787 shares of the semiconductor manufacturer’s stock, valued at approximately $225,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MU. REAP Financial Group LLC purchased a new position in shares of Micron Technology during the third quarter valued at about $25,000. Elevation Wealth Partners LLC increased its position in shares of Micron Technology by 295.8% during the fourth 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 period. Steigerwald Gordon & Koch Inc. increased its position in shares of Micron Technology by 4,800.0% during the fourth 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 period. GHP Investment Advisors Inc. increased its position in shares of Micron Technology by 91.2% during the fourth 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 period. Finally, Joseph Group Capital Management purchased a new position in shares of Micron Technology during the fourth quarter valued at about $31,000. 80.84% of the stock is owned by institutional investors.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Analysts and market commentators say Micron is benefiting from surging demand for HBM, DRAM and AI infrastructure memory, with supply still tight. BofA Sees More Room for Micron’s AI Rally
• Positive Sentiment: Micron is being highlighted as a direct AI winner, with articles arguing the company is still early in the AI cycle rather than near the top of it. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI ‘Parking Lot’— It Is ‘Not Late’ To Get In
• Positive Sentiment: Fresh product momentum also supports the bull case, including sampling of a faster 256GB DDR5 server module for AI and data-center workloads. Micron Redefines AI Performance With Sampling of 256GB DDR5 Server Module
• Neutral Sentiment: Some investors are also watching Micron’s sharp run and warning that the stock may be extended after a huge rally, which could mean near-term volatility even if the long-term story remains strong. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: A broader chip-sector pullback and profit-taking briefly weighed on MU earlier in the week as traders worried the memory-supercycle trade had run too far, too fast. Why Sandisk, Micron stock are plunging upto 9% on Tuesday

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were 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 approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the sale, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 106,000 shares of company stock worth $47,032,460 in the last ninety days. 0.24% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of MU opened at $803.63 on Thursday. The stock has a market cap of $906.28 billion, a PE ratio of 37.94 and a beta of 1.91. 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 fifty-two week low of $90.93 and a fifty-two week high of $818.67. The firm’s 50-day simple moving average is $464.69 and its two-hundred day simple moving average is $364.25.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were issued 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 was Monday, March 30th. Micron Technology’s dividend payout ratio is currently 2.83%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MU. Wedbush boosted their price target on shares of Micron Technology from $320.00 to $500.00 and gave the company an “outperform” rating in a research report on Friday, March 13th. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Needham & Company LLC boosted their price target on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. UBS Group boosted their price target on shares of Micron Technology from $510.00 to $535.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Finally, William Blair began coverage on shares of Micron Technology in a research report on Thursday, January 22nd. They set an “outperform” rating on the stock. Five equities research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $495.63.

Micron Technology Company 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.