HighPoint Advisor Group LLC Has $10.82 Million Stock Holdings in Micron Technology, Inc. $MU

HighPoint Advisor Group LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 69.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 37,913 shares of the semiconductor manufacturer’s stock after acquiring an additional 15,482 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Micron Technology were worth $10,821,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after buying an additional 1,954,644 shares during the period. State Street Corp boosted its position in Micron Technology by 0.6% during the 3rd quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock worth $8,643,613,000 after buying an additional 285,582 shares during the period. Capital International Investors boosted its position in Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after buying an additional 155,860 shares during the period. Invesco Ltd. boosted its position in Micron Technology by 8.0% during the 3rd quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock worth $1,609,981,000 after buying an additional 708,716 shares during the period. Finally, Legal & General Group Plc boosted its position in Micron Technology by 1.9% during the 3rd quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer’s stock worth $1,217,394,000 after buying an additional 135,850 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MU has been the topic of several recent research reports. Mizuho lifted their target price 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. UBS Group raised their price target on shares of Micron Technology from $510.00 to $535.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Rosenblatt Securities restated a “buy” rating and set a $500.00 price target on shares of Micron Technology in a report on Monday, March 16th. Needham & Company LLC raised their price target 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. Finally, Susquehanna raised their price target on shares of Micron Technology from $345.00 to $525.00 and gave the stock a “positive” rating in a report on Monday, March 9th. Five investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $478.24.

Insider Transactions at Micron Technology

In other news, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction that occurred 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 owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 transaction of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 104,000 shares of company stock valued at $45,458,400 in the last quarter. 0.24% of the stock is currently owned by company insiders.

Micron Technology Stock Up 6.5%

Micron Technology stock opened at $795.33 on Tuesday. The firm has a market cap of $896.92 billion, a price-to-earnings ratio of 37.55 and a beta of 1.91. Micron Technology, Inc. has a 52-week low of $90.93 and a 52-week high of $818.67. 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 firm has a 50 day moving average price of $449.78 and a two-hundred day moving average price of $356.05.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were given a dividend of $0.15 per share. 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. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s payout ratio is 2.83%.

Micron Technology News Roundup

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

• Positive Sentiment: Micron is benefiting from a powerful AI memory supercycle, with multiple articles citing strong demand for DRAM, NAND, and high-bandwidth memory as hyperscale data center spending accelerates. Micron Rallies as Memory Chip Shortage Fuels AI Demand
• Positive Sentiment: Wall Street sentiment remains constructive, with DA Davidson reaffirming a buy rating and Deutsche Bank reportedly raising its price target to $1,000, reinforcing the view that earnings estimates may still be moving higher. DA Davidson buy rating reaffirmed
• Positive Sentiment: Reports that Samsung could face production disruption from labor issues are boosting Micron, since any supply hit at a major rival could lift memory prices and improve Micron’s margins. Micron, SK Hynix Stocks Rise. Thank Trouble at Samsung.
• Positive Sentiment: Investor enthusiasm is also being amplified by strong ETF and options activity tied to chip stocks, suggesting traders expect the rally to continue and are positioning for more upside in MU. Micron Stock Has Been Soaring—Traders Are Pricing In More Big Moves This Week
• Neutral Sentiment: Micron is increasingly viewed as a major AI stock and a top trader favorite, which can support momentum, but it also raises the risk of near-term volatility if expectations become too stretched. 5 AI Stocks Wall Street Is Watching Now: Nvidia, Micron, and More
• Negative Sentiment: One cautionary note is that the stock’s rapid run-up has drawn “overbought” warnings and comments about extreme sentiment, so any disappointment on earnings, margins, or supply-chain execution could trigger profit-taking. Micron Stock: Overbought or Unstoppable Force?

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.