MML Investors Services LLC Boosts Holdings in Micron Technology, Inc. $MU

MML Investors Services LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 17.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 133,023 shares of the semiconductor manufacturer’s stock after purchasing an additional 19,691 shares during the period. MML Investors Services LLC’s holdings in Micron Technology were worth $37,966,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC grew its holdings in shares of Micron Technology by 2.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer’s stock worth $301,000 after buying an additional 24 shares in the last quarter. SWAN Capital LLC lifted its position in Micron Technology by 9.7% during the fourth quarter. SWAN Capital LLC now owns 271 shares of the semiconductor manufacturer’s stock valued at $77,000 after buying an additional 24 shares in the last quarter. Vivaldi Capital Management LP lifted its position in Micron Technology by 1.2% during the fourth quarter. Vivaldi Capital Management LP now owns 1,964 shares of the semiconductor manufacturer’s stock valued at $561,000 after buying an additional 24 shares in the last quarter. Round Rock Advisors LLC lifted its position in Micron Technology by 0.6% during the fourth quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer’s stock valued at $1,237,000 after buying an additional 25 shares in the last quarter. Finally, Arlington Trust Co LLC raised its stake in shares of Micron Technology by 26.3% during the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer’s stock valued at $34,000 after purchasing an additional 25 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of the 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 transaction, the executive vice president 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This represents a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 146,000 shares of company stock worth $85,486,715. Corporate insiders own 0.24% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $1,087.99 on Tuesday. 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, Inc. has a twelve month low of $103.38 and a twelve month high of $1,097.47. The company has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 51.37 and a beta of 2.15. The firm has a 50-day moving average of $692.02 and a two-hundred day moving average of $471.28.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data 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 company had revenue of $23.86 billion during 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 business’s quarterly revenue was up 196 on a year-over-year basis. During the same period in the prior year, the firm earned $1.56 earnings per share. As a group, analysts expect that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

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 issued a $0.15 dividend. This is an increase 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%.

Analyst Ratings Changes

A number of analysts have recently issued reports on MU shares. Rosenblatt Securities reiterated a “buy” rating and set a $500.00 price objective on shares of Micron Technology in a research note on Monday, March 16th. Raymond James Financial lifted their price target on shares of Micron Technology from $530.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Monday, June 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Micron Technology in a research note on Tuesday, May 12th. Wolfe Research boosted their price target on shares of Micron Technology from $550.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Bank of America boosted their price target on shares of Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $788.13.

Trending Headlines about Micron Technology

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

• Positive Sentiment: TD Cowen raised its price target to $1,500 and said AI-driven memory demand could support pricing strength through 2027.
• Positive Sentiment: RBC also lifted its target, citing a stronger memory cycle and continued AI demand for Micron’s DRAM and NAND products.
• Positive Sentiment: Multiple reports said memory-chip shortages and improving industry supply/demand dynamics are reinforcing a prolonged upcycle for MU.
• Positive Sentiment: The stock’s breakout to new highs is drawing additional momentum buyers and investors positioning ahead of earnings on June 24.
• Neutral Sentiment: Some market commentary notes MU has become extremely overbought after its massive run, which could lead to volatility even if the long-term outlook remains strong.
• Neutral Sentiment: Option-market data shows elevated implied volatility and bearish hedging, suggesting traders are pricing in a wide range of outcomes around earnings and other event risks.
• Negative Sentiment: A few articles warn that Micron’s rally may be too crowded and that memory margins may not stay at peak levels indefinitely, increasing pullback risk.

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.