Convergence Financial LLC Takes Position in Micron Technology, Inc. $MU

Convergence Financial LLC purchased a new stake in Micron Technology, Inc. (NASDAQ:MU) during the 4th quarter, HoldingsChannel reports. The fund purchased 712 shares of the semiconductor manufacturer’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MU. Brighton Jones LLC increased its holdings in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after acquiring an additional 976 shares during the period. Sivia Capital Partners LLC increased its holdings in shares of Micron Technology by 21.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after buying an additional 628 shares during the last quarter. United Bank bought a new position in shares of Micron Technology in the 2nd quarter worth $236,000. Schnieders Capital Management LLC. increased its holdings in shares of Micron Technology by 67.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after buying an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Micron Technology by 5.6% during the 2nd 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 last quarter. 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: Micron was certified as an HBM4 memory supplier for Nvidia’s next-generation Vera Rubin AI platform, reinforcing its role in the AI memory supply chain and highlighting continued demand for high-bandwidth memory. Micron’s HBM4 Certification With Nvidia Puts AI Memory Margins In Focus
• Positive Sentiment: Wall Street sentiment remains broadly constructive, with recent analyst reports and price-target hikes pointing to expectations for strong AI-driven earnings and tight memory supply. Morgan Stanley raises Micron stock price target
• Positive Sentiment: Recent coverage continues to frame Micron as a major beneficiary of AI infrastructure spending, with some analysts still arguing the stock has upside despite its huge run-up. Micron (MU) Boasts Earnings & Price Momentum: Should You Buy?
• Neutral Sentiment: Mixed commentary around Micron’s valuation and its recent $1 trillion-plus market-cap rally is keeping investors cautious ahead of the next earnings report, even as the company’s fundamentals remain strong. Micron Stock Price Forecast — What Top Analysts Expect Ahead of June 24 Earnings
• Neutral Sentiment: Broader market weakness in chip stocks and a hotter-than-expected U.S. jobs report added to the risk-off tone, pressuring semiconductors across the board. Micron, Sandisk stocks slide as traders exit high-flying AI plays
• Negative Sentiment: Broadcom’s disappointing AI guidance triggered a sharp unwind in the “AI trade,” dragging Micron lower even though there was no company-specific negative news. Micron, Marvell, and Broadcom lead chipmakers’ premarket losses
• Negative Sentiment: Some analysts and commentators are warning that memory-chip prices may be nearing a peak, raising concerns that Micron’s blockbuster rally may have run too far too fast. Micron Stock Drops, Brace for the Memory-Price Peak

Micron Technology Stock Down 13.3%

Shares of Micron Technology stock opened at $864.01 on Friday. 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 stock has a market capitalization of $974.37 billion, a PE ratio of 40.79 and a beta of 2.16. Micron Technology, Inc. has a 52-week low of $103.38 and a 52-week high of $1,089.29. The company has a 50-day simple moving average of $617.28 and a two-hundred day simple moving average of $437.99.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business’s revenue for the quarter was up 196 compared to the same quarter last year. During the same period in the previous year, the company earned $1.56 earnings per share. On average, analysts anticipate that Micron Technology, Inc. will post 58.79 EPS for the current fiscal year.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid 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 dividend yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology’s dividend payout ratio (DPR) is presently 2.83%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MU shares. Susquehanna increased their target price on shares of Micron Technology from $600.00 to $1,750.00 and gave the company a “positive” rating in a report on Friday, May 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Micron Technology in a report on Tuesday, May 12th. KeyCorp raised their price target on shares of Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. DA Davidson initiated coverage on shares of Micron Technology in a research report on Monday, May 11th. They issued a “buy” rating and a $1,000.00 price objective on the stock. Finally, Stifel Nicolaus boosted 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. Five equities 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 company. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and an average price target of $641.97.

Insider Activity at Micron Technology

In other news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction that occurred on 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 directly owned 224,021 shares in the company, valued at $94,391,248.35. The trade was a 9.68% 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, CEO Sanjay Mehrotra sold 37,439 shares of Micron Technology stock in a transaction that occurred on Friday, May 29th. The stock was sold at an average price of $960.38, for a total transaction of $35,955,666.82. Following the completion of the sale, the chief executive officer owned 387,064 shares of the company’s stock, valued at $371,728,524.32. This represents a 8.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 146,000 shares of company stock valued at $85,486,715. Insiders own 0.24% of the company’s stock.

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.