Griffin Asset Management Inc. Invests $340,000 in Micron Technology, Inc. $MU

Griffin Asset Management Inc. bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, Holdings Channel.com reports. The firm bought 1,192 shares of the semiconductor manufacturer’s stock, valued at approximately $340,000.

A number of other large investors also recently modified their holdings of MU. AQR Capital Management LLC lifted its position in shares of Micron Technology by 411.9% during the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock worth $606,873,000 after purchasing an additional 2,918,535 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of Micron Technology by 70.2% during the third quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock worth $505,942,000 after purchasing an additional 1,246,773 shares in the last quarter. Voloridge Investment Management LLC raised its stake in shares of Micron Technology by 1,064.3% during the third quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock worth $218,264,000 after buying an additional 1,192,433 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Micron Technology by 19.9% during the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock worth $1,196,427,000 after buying an additional 1,188,296 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on MU shares. UBS Group boosted their price target on shares of Micron Technology from $510.00 to $535.00 and gave the stock a “buy” rating in a research note on Wednesday, April 8th. Citigroup boosted their price target on shares of Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday. TD Cowen boosted their price target on shares of Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Cantor Fitzgerald boosted their price target on shares of Micron Technology from $450.00 to $700.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Finally, Morgan Stanley boosted their price target on shares of Micron Technology from $350.00 to $450.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Five equities research 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. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $518.47.

Micron Technology Stock Performance

Shares of MU opened at $762.10 on Friday. Micron Technology, Inc. has a 12 month low of $90.93 and a 12 month high of $818.67. The firm has a fifty day simple moving average of $505.38 and a 200 day simple moving average of $385.66. The stock has a market capitalization of $859.45 billion, a price-to-earnings ratio of 35.98 and a beta of 1.91. 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. Investors of record on Monday, March 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology’s dividend payout ratio is currently 2.83%.

Key Micron Technology News

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

• Positive Sentiment: Micron shares are rising as the memory-chip rally reawakens, with Samsung’s last-minute labor deal and strike fears helping fuel expectations for tighter supply and higher pricing across the sector. Micron and SK Hynix Stocks Rise. The Memory-Chip Boom Is Back.
• Positive Sentiment: Micron is also benefiting from a wave of bullish AI-memory coverage, with investors focusing on structural demand from data centers, record revenue guidance, and strong gross-margin potential. Micron’s AI Memory Dominance Is Just Beginning
• Positive Sentiment: Several analysts are arguing Micron’s valuation still looks attractive relative to other AI chip names, reinforcing the case that the stock can keep climbing if memory demand stays hot. MU vs. AMD: Which AI Semiconductor Stock Is the Better Buy?
• Neutral Sentiment: Micron Biomedical announced the grand opening of a commercial-scale manufacturing site in Georgia, a long-term operational milestone that is not likely to move MU shares much in the short term. Micron Biomedical Celebrates the Grand Opening of Its Commercial-Scale Manufacturing Site in Georgia
• Negative Sentiment: A contrarian take notes that the easy money in this memory cycle may already be behind investors, suggesting upside could become harder to realize if pricing or demand cools. Micron: The Easy Money In This Cycle Is Behind Us

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction on Monday, May 11th. The shares were 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 $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 106,000 shares of company stock worth $47,032,460. 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.