Thoroughbred Financial Services LLC Buys 6,177 Shares of Micron Technology, Inc. $MU

Thoroughbred Financial Services LLC raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 12.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 54,278 shares of the semiconductor manufacturer’s stock after purchasing an additional 6,177 shares during the quarter. Micron Technology accounts for about 0.9% of Thoroughbred Financial Services LLC’s investment portfolio, making the stock its 27th biggest position. Thoroughbred Financial Services LLC’s holdings in Micron Technology were worth $15,491,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. High Note Wealth LLC increased its holdings in shares of Micron Technology by 65.4% during the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC increased its stake in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. increased its stake in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after acquiring an additional 96 shares during the period. Joseph Group Capital Management bought a new stake in Micron Technology in the fourth quarter valued at about $31,000. Finally, Luken Investment Analytics LLC bought a new stake in Micron Technology in the fourth quarter valued at about $31,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other news, EVP Sumit Sadana sold 24,000 shares of the company’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 transaction, the executive vice president directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 106,000 shares of company stock valued at $47,032,460 over the last ninety days. Company insiders own 0.24% of the company’s stock.

Micron Technology News Roundup

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

• Positive Sentiment: UBS and other analysts turned increasingly bullish, arguing Micron is one of the biggest AI winners and has more room to run as memory shortages and AI data-center demand remain strong.
• Positive Sentiment: Micron crossed the $1 trillion market-cap milestone, a symbolic validation of the stock’s massive re-rating on AI-driven demand for DRAM and HBM memory chips.
• Positive Sentiment: Recent earnings and guidance were exceptionally strong, with revenue and EPS well above expectations and management pointing to very high gross margins, which supports optimism about continued cash-flow growth.
• Positive Sentiment: Analysts highlighted that long-term supply contracts and persistent chip shortages may keep pricing favorable well into the next few years, reducing the usual cyclicality investors fear in memory chips.
• Neutral Sentiment: Micron also announced it will report fiscal third-quarter results on June 24, keeping attention on whether this momentum can be sustained.
• Negative Sentiment: Some commentary warned the stock may be getting expensive after its huge run, and insider selling plus the risk of a future memory-cycle downturn could eventually pressure sentiment.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley upped their target price on shares of Micron Technology from $350.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Weiss Ratings reissued a “buy (b)” rating on shares of Micron Technology in a research note on Tuesday, May 12th. Susquehanna upped their target price on shares of Micron Technology from $345.00 to $525.00 and gave the company a “positive” rating in a research note on Monday, March 9th. KeyCorp upped their target price on shares of Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Finally, Cantor Fitzgerald upped their target price on shares of Micron Technology from $450.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. 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, Micron Technology currently has an average rating of “Buy” and an average price target of $566.47.

Micron Technology Price Performance

NASDAQ:MU opened at $928.41 on Thursday. The firm has a market cap of $1.05 trillion, a PE ratio of 43.83 and a beta of 1.91. Micron Technology, Inc. has a 12 month low of $92.22 and a 12 month high of $956.16. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $538.07 and its two-hundred day moving average price is $402.54.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results 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 analyst estimates of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company’s revenue for the quarter was up 196 compared to the same quarter last year. During the same period in the previous year, the business earned $1.56 earnings per share. On average, equities analysts anticipate that Micron Technology, Inc. will post 57.82 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders 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 a boost from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.

About Micron Technology

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.