Crestwood Advisors Group LLC Increases Stock Holdings in Micron Technology, Inc. $MU

Crestwood Advisors Group LLC boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 47.3% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,798 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,861 shares during the period. Crestwood Advisors Group LLC’s holdings in Micron Technology were worth $1,655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. iA Global Asset Management Inc. raised its position in Micron Technology by 18.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock valued at $24,578,000 after purchasing an additional 23,117 shares in the last quarter. Generation Capital Management LLC acquired a new stake in Micron Technology in the 3rd quarter valued at about $238,000. Wealthfront Advisers LLC raised its position in Micron Technology by 9.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock valued at $15,962,000 after purchasing an additional 8,489 shares in the last quarter. Westpac Banking Corp raised its position in Micron Technology by 251.0% in the 3rd 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 in the last quarter. Finally, Avanda Investment Management Pte. Ltd. acquired a new stake in Micron Technology in the 3rd quarter valued at about $418,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What’s Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Wall Street Analyst Weigh In

MU has been the topic of a number of analyst reports. The Goldman Sachs Group increased their price target on Micron Technology from $360.00 to $400.00 and gave the company a “neutral” rating in a research report on Thursday, March 19th. KeyCorp increased their price target on Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Sanford C. Bernstein increased their price target on Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. Morgan Stanley increased their price target on Micron Technology from $350.00 to $450.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Finally, Barclays increased their price objective on Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $478.24.

Micron Technology Trading Up 15.4%

MU opened at $746.33 on Friday. Micron Technology, Inc. has a one year low of $84.68 and a one year high of $747.21. The company has a market cap of $841.66 billion, a P/E ratio of 35.24 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. The business’s 50-day simple moving average is $435.84 and its 200-day simple moving average is $348.07.

Micron Technology Increases Dividend

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

Insider Activity

In other news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, 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 firm’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 104,000 shares of company stock worth $45,458,400. 0.24% of the stock is currently owned by 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.