Atlas Private Wealth Advisors Makes New $245,000 Investment in Micron Technology, Inc. $MU

Atlas Private Wealth Advisors acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 858 shares of the semiconductor manufacturer’s stock, valued at approximately $245,000.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. Elevation Wealth Partners LLC raised its holdings in shares of Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its holdings in shares of 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 purchasing an additional 96 shares in the last quarter. Joseph Group Capital Management bought a new stake in Micron Technology in the fourth quarter worth $31,000. Luken Investment Analytics LLC bought a new stake in Micron Technology in the fourth quarter worth $31,000. Finally, GHP Investment Advisors Inc. raised its stake in Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock valued at $31,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Stifel Nicolaus increased their price objective on shares of Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a research report on Monday, March 2nd. 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 report on Thursday, March 19th. Royal Bank Of Canada increased their price target on shares of Micron Technology from $425.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, March 16th. Phillip Securities upgraded Micron Technology to a “strong-buy” rating in a research report on Monday, February 2nd. Finally, Mizuho boosted their price objective on Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note 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 assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $495.63.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction that occurred on 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 sale, the director directly 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 106,000 shares of company stock worth $47,032,460. Corporate insiders own 0.24% of the company’s stock.

Micron Technology Price Performance

MU stock opened at $803.63 on Thursday. The stock has a market cap of $906.28 billion, a PE ratio of 37.94 and a beta of 1.91. Micron Technology, Inc. has a 12 month low of $90.93 and a 12 month high of $818.67. The company has a 50-day moving average price of $464.69 and a 200 day moving average price of $364.25. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend 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%.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Analysts and market commentators say Micron is benefiting from surging demand for HBM, DRAM and AI infrastructure memory, with supply still tight. BofA Sees More Room for Micron’s AI Rally
• Positive Sentiment: Micron is being highlighted as a direct AI winner, with articles arguing the company is still early in the AI cycle rather than near the top of it. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI ‘Parking Lot’— It Is ‘Not Late’ To Get In
• Positive Sentiment: Fresh product momentum also supports the bull case, including sampling of a faster 256GB DDR5 server module for AI and data-center workloads. Micron Redefines AI Performance With Sampling of 256GB DDR5 Server Module
• Neutral Sentiment: Some investors are also watching Micron’s sharp run and warning that the stock may be extended after a huge rally, which could mean near-term volatility even if the long-term story remains strong. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: A broader chip-sector pullback and profit-taking briefly weighed on MU earlier in the week as traders worried the memory-supercycle trade had run too far, too fast. Why Sandisk, Micron stock are plunging upto 9% on Tuesday

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.