Micron Technology, Inc. $MU Shares Sold by Lyell Wealth Management LP

Lyell Wealth Management LP lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 10.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,455 shares of the semiconductor manufacturer’s stock after selling 962 shares during the quarter. Lyell Wealth Management LP’s holdings in Micron Technology were worth $2,413,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Heritage Trust Co boosted its stake in Micron Technology by 9.7% during the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock worth $4,289,000 after purchasing an additional 1,323 shares during the period. Generation Capital Management LLC acquired a new position in Micron Technology in the third quarter valued at $238,000. Westpac Banking Corp increased its stake in Micron Technology by 251.0% in the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock valued at $3,863,000 after purchasing an additional 16,509 shares during the period. Avanda Investment Management Pte. Ltd. acquired a new position in Micron Technology in the third quarter valued at $418,000. Finally, Wellington Management Group LLP increased its stake in Micron Technology by 19.9% in the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock valued at $1,196,427,000 after purchasing an additional 1,188,296 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Citigroup boosted their price objective on shares of Micron Technology from $425.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Melius Research assumed coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a “buy” rating and a $700.00 price objective on the stock. DA Davidson began 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 objective on the stock. 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 note on Thursday, March 19th. Finally, UBS Group upped their price target on shares of Micron Technology from $535.00 to $1,625.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $737.63.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $995.87 on Friday. The stock has a market cap of $1.12 trillion, a price-to-earnings ratio of 47.02 and a beta of 2.16. Micron Technology, Inc. has a 52 week low of $103.38 and a 52 week high of $1,089.29. The company’s 50-day moving average price is $665.31 and its 200 day moving average price is $459.87. 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 (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. The firm had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm’s revenue was up 196 on a year-over-year basis. During the same period in the prior year, the company earned $1.56 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

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

More Micron Technology News

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

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 146,000 shares of company stock valued at $85,486,715 in the last 90 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.