RKL Wealth Management LLC Sells 567 Shares of Micron Technology, Inc. $MU

RKL Wealth Management LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 24,686 shares of the semiconductor manufacturer’s stock after selling 567 shares during the quarter. Micron Technology makes up about 0.6% of RKL Wealth Management LLC’s investment portfolio, making the stock its 26th largest position. RKL Wealth Management LLC’s holdings in Micron Technology were worth $7,046,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. High Note Wealth LLC raised its position in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 34 shares during the last quarter. Elevation Wealth Partners LLC raised its position in Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its position in Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Joseph Group Capital Management bought a new position in Micron Technology in the 4th quarter valued at $31,000. Finally, Luken Investment Analytics LLC bought a new position in Micron Technology in the 4th quarter valued at $31,000. Institutional investors own 80.84% of the company’s stock.

Micron Technology News Summary

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

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

Analyst Ratings Changes

MU has been the subject of several research analyst reports. Weiss Ratings reiterated a “buy (b)” rating on shares of Micron Technology in a research report on Tuesday, May 12th. Needham & Company LLC lifted their price objective on Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Stifel Nicolaus boosted their target price on Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Wedbush boosted their target price on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, March 13th. Finally, Melius Research assumed coverage on Micron Technology in a research report on Monday, April 27th. They set a “buy” rating and a $700.00 target price for the company. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $737.63.

Micron Technology Trading Up 11.7%

MU stock opened at $995.87 on Friday. The company has a market cap of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,089.29. 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 business has a fifty day moving average of $665.31 and a 200-day moving average of $459.87.

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

Micron Technology Increases Dividend

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

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was 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 owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 146,000 shares of company stock worth $85,486,715. Company insiders own 0.24% of the company’s stock.

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.