Mariner LLC Acquires 59,718 Shares of Micron Technology, Inc. $MU

Mariner LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 19.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 364,298 shares of the semiconductor manufacturer’s stock after purchasing an additional 59,718 shares during the period. Mariner LLC’s holdings in Micron Technology were worth $104,091,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC increased its position in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after purchasing an additional 976 shares during the period. Sivia Capital Partners LLC increased its position in shares of Micron Technology by 21.7% during the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock valued at $435,000 after purchasing an additional 628 shares during the period. United Bank bought a new stake in shares of Micron Technology during the second quarter valued at approximately $236,000. Schnieders Capital Management LLC. increased its position in shares of Micron Technology by 67.9% during the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after purchasing an additional 6,867 shares during the period. Finally, Sei Investments Co. increased its position in shares of Micron Technology by 5.6% during the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock valued at $49,987,000 after purchasing an additional 21,619 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

Micron Technology stock opened at $1,087.99 on Tuesday. 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 market cap of $1.23 trillion, a P/E ratio of 51.37 and a beta of 2.15. The business’s fifty day moving average is $692.02 and its two-hundred day moving average is $471.28. Micron Technology, Inc. has a 52 week low of $103.38 and a 52 week high of $1,097.47.

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

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid 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 of this dividend was Monday, March 30th. Micron Technology’s payout ratio is presently 2.83%.

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the transaction, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 146,000 shares of company stock worth $85,486,715. 0.24% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on MU shares. Barclays boosted their price objective on Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. TD Cowen boosted their price target on Micron Technology from $660.00 to $1,500.00 and gave the company a “buy” rating in a research note on Monday. Mizuho boosted their price target on Micron Technology to $800.00 and gave the company an “outperform” rating in a research note on Tuesday, May 19th. Wolfe Research boosted their price target on Micron Technology from $550.00 to $1,250.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, The Goldman Sachs Group boosted their price target on Micron Technology from $400.00 to $900.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target 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.

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.