LFG Wealth Partners LLC Buys New Stake in Micron Technology, Inc. $MU

LFG Wealth Partners LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,562 shares of the semiconductor manufacturer’s stock, valued at approximately $3,014,000. Micron Technology makes up approximately 1.9% of LFG Wealth Partners LLC’s investment portfolio, making the stock its 11th biggest holding.

A number of other large investors also recently modified their holdings of MU. High Note Wealth LLC lifted its position in shares of Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC lifted 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 worth $27,000 after purchasing an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted 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 worth $28,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. lifted 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 worth $31,000 after purchasing an additional 52 shares in the last quarter. Finally, Joseph Group Capital Management acquired a new position in shares of Micron Technology during the fourth quarter worth approximately $31,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

MU has been the topic of several analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of Micron Technology in a report on Tuesday, May 12th. Stifel Nicolaus increased their price objective on shares of Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 target price on shares of Micron Technology in a research note on Monday, March 16th. Wells Fargo & Company upped their target price on shares of Micron Technology from $550.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Finally, Erste Group Bank downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $788.13.

Micron Technology Stock Up 10.8%

Shares of MU stock opened at $1,087.99 on Tuesday. The firm has a fifty day moving average of $692.02 and a 200-day moving average of $471.28. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 12-month low of $103.38 and a 12-month high of $1,097.47. The company has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 51.37 and a beta of 2.15.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The firm’s revenue was up 196 compared to the same quarter last year. As a group, equities research analysts predict that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase 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%.

More Micron Technology News

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

• Positive Sentiment: TD Cowen raised its price target to $1,500 and said AI-driven memory demand could support pricing strength through 2027.
• Positive Sentiment: RBC also lifted its target, citing a stronger memory cycle and continued AI demand for Micron’s DRAM and NAND products.
• Positive Sentiment: Multiple reports said memory-chip shortages and improving industry supply/demand dynamics are reinforcing a prolonged upcycle for MU.
• Positive Sentiment: The stock’s breakout to new highs is drawing additional momentum buyers and investors positioning ahead of earnings on June 24.
• Neutral Sentiment: Some market commentary notes MU has become extremely overbought after its massive run, which could lead to volatility even if the long-term outlook remains strong.
• Neutral Sentiment: Option-market data shows elevated implied volatility and bearish hedging, suggesting traders are pricing in a wide range of outcomes around earnings and other event risks.
• Negative Sentiment: A few articles warn that Micron’s rally may be too crowded and that memory margins may not stay at peak levels indefinitely, increasing pullback risk.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the business’s stock in a transaction dated 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 $43,679,776.43. The trade was a 24.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,000 shares of company stock valued at $85,486,715 over the last quarter. 0.24% of the stock is currently owned by corporate insiders.

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.