RiverFront Investment Group LLC Acquires New Position in Micron Technology, Inc. $MU

RiverFront Investment Group LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, Holdings Channel reports. The fund acquired 2,304 shares of the semiconductor manufacturer’s stock, valued at approximately $658,000.

Other institutional investors and hedge funds have also modified their holdings of the company. iA Global Asset Management Inc. lifted its stake in shares of Micron Technology by 18.7% during the third quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock valued at $24,578,000 after buying an additional 23,117 shares during the period. Generation Capital Management LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $238,000. Wealthfront Advisers LLC lifted its stake in shares of Micron Technology by 9.8% during the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock valued at $15,962,000 after buying an additional 8,489 shares during the period. Westpac Banking Corp lifted its stake in shares of Micron Technology by 251.0% during the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock valued at $3,863,000 after buying an additional 16,509 shares during the period. Finally, Avanda Investment Management Pte. Ltd. purchased a new position in shares of Micron Technology during the third quarter valued at approximately $418,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Micron remains a major beneficiary of the AI boom, with reports highlighting record highs, strong demand for high-bandwidth memory (HBM), and tight supply that is supporting pricing power and a favorable revenue/margin outlook. Article Title
• Positive Sentiment: News that Samsung may face labor disruptions lifted hopes for tighter memory-chip supply, which can benefit Micron by supporting stronger industry pricing and potentially improving margins. Article Title
• Positive Sentiment: Multiple market pieces pointed to Micron as one of the standout AI trade names, reinforcing investor enthusiasm for the stock after its huge run over the past year. Article Title
• Neutral Sentiment: Several articles focused on bullish investor commentary and portfolio updates, but these were more sentiment-driven than fundamentally new, so they are unlikely to be the main driver of the stock today. Article Title
• Negative Sentiment: Micron came under pressure from a broader semiconductor sell-off and investor worries that the AI rally has pushed memory-chip valuations too far too fast. Article Title
• Negative Sentiment: Some coverage also flagged concerns about demand durability, China exposure, and the risk that memory-market conditions could weaken if AI spending cools. Article Title

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. DA Davidson assumed coverage on shares of Micron Technology in a research report on Monday, May 11th. They set a “buy” rating and a $1,000.00 price target for the company. Mizuho upped their price target on shares of Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, March 19th. Royal Bank Of Canada upped their price target on shares of Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, March 16th. Bank of America upped their price target on shares of Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Finally, Morgan Stanley upped their price target on shares of Micron Technology from $350.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $495.63.

Insider Activity

In related news, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction 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 sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The transaction 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 firm’s stock in a transaction 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 sale, the executive vice president directly owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. 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 sold a total of 106,000 shares of company stock valued at $47,032,460 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Micron Technology Price Performance

MU opened at $681.54 on Tuesday. The company has a fifty day simple moving average of $484.78 and a 200 day simple moving average of $374.96. The firm has a market cap of $768.60 billion, a price-to-earnings ratio of 32.18 and a beta of 1.91. Micron Technology, Inc. has a twelve month low of $90.93 and a twelve month high of $818.67. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) 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.