Centric Wealth Management Makes New $647,000 Investment in Micron Technology, Inc. $MU

Centric Wealth Management acquired a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,267 shares of the semiconductor manufacturer’s stock, valued at approximately $647,000.

Several other hedge funds also recently made changes to their positions in the business. Horizon Wealth Management LLC bought a new position in shares of Micron Technology during the fourth quarter worth approximately $298,000. Brio Consultants LLC bought a new position in shares of Micron Technology during the fourth quarter worth approximately $281,000. Swiss Life Asset Management Ltd increased its holdings in shares of Micron Technology by 56.5% during the fourth quarter. Swiss Life Asset Management Ltd now owns 252,679 shares of the semiconductor manufacturer’s stock worth $72,117,000 after purchasing an additional 91,176 shares during the period. Sentry Investment Management LLC increased its holdings in shares of Micron Technology by 4.2% during the fourth quarter. Sentry Investment Management LLC now owns 2,924 shares of the semiconductor manufacturer’s stock worth $835,000 after purchasing an additional 119 shares during the period. Finally, Kepler Cheuvreux Suisse SA bought a new position in shares of Micron Technology during the fourth quarter worth approximately $16,200,000. 80.84% of the stock is owned by institutional investors.

Micron Technology News Summary

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 Analysts Forecast Growth

Several research analysts have recently commented on MU shares. Needham & Company LLC raised their target price on shares of Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Phillip Securities raised shares of Micron Technology to a “strong-buy” rating in a report on Monday, February 2nd. Mizuho raised their target price on shares of Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a report on Thursday, March 19th. Summit Insights cut shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Thursday, March 19th. Finally, Stifel Nicolaus raised their target price on shares of Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $478.24.

Insider Activity at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology 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 completion of the transaction, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 104,000 shares of company stock valued at $45,458,400 over the last three months. 0.24% of the stock is owned by insiders.

Micron Technology Stock Performance

Shares of NASDAQ:MU opened at $746.33 on Monday. The company’s 50 day simple moving average is $435.84 and its 200 day simple moving average is $348.07. The stock has a market capitalization of $841.66 billion, a price-to-earnings ratio of 35.24 and a beta of 1.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. Micron Technology, Inc. has a 1 year low of $84.68 and a 1 year high of $747.21.

Micron Technology Increases Dividend

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

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.