Independent Advisor Alliance Increases Micron Technology Holdings
Independent Advisor Alliance increased its investment in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter of 2024, according to a recent filing with the Securities and Exchange Commission (SEC). The firm increased its holdings by 14.5%, purchasing an additional 8,308 shares to bring its total holdings to 65,721 shares. The value of Independent Advisor Alliance’s stake in Micron Technology was approximately $5.53 million at the time of the filing.
Several other institutional investors also adjusted their positions in Micron Technology during the same period.
- Johnson Investment Counsel Inc. increased its holdings by 6.0%, owning 7,203 shares worth $606,000 after purchasing 408 additional shares.
- Daiwa Securities Group Inc. raised its holdings by 8.9%, now holding 251,371 shares valued at $21.16 million, after buying an additional 20,520 shares.
- Moran Wealth Management LLC significantly boosted its position by 258.9%, owning 46,696 shares worth $3.93 million after acquiring 33,685 additional shares.
- Zurcher Kantonalbank Zurich Cantonalbank increased its position by 17.5%, holding 1,133,375 shares worth $95.38 million after buying an additional 168,631 shares.
- Sound View Wealth Advisors Group LLC grew its position by 391.7%, owning 15,999 shares valued at $1.346 million after acquiring 12,745 additional shares.
Institutional investors and hedge funds collectively own 80.84% of Micron Technology’s stock.
Analyst Ratings and Price Targets
Analysts from several financial institutions have recently updated their ratings and price targets for Micron Technology.
- UBS Group lowered its price objective from $135.00 to $125.00 but maintained a “buy” rating.
- KGI Securities upgraded Micron Technology to a “strong-buy” rating.
- The Goldman Sachs Group decreased its target price from $145.00 to $128.00, while still maintaining a “buy” rating.
- Barclays reduced its price target from $145.00 to $110.00 and reiterated an “overweight” rating.
- Piper Sandler lowered its price objective from $150.00 to $120.00, maintaining an “overweight” rating.
MarketBeat.com data indicates a consensus rating of “Moderate Buy” for the stock, with an average price target of $134.96.
Insider Transactions
In December 2024, April S. Arnzen, Executive Vice President of Micron Technology, sold 4,890 shares of the company’s stock at an average price of $85.21 per share, totaling $416,676.90. Following the sale, Arnzen directly owns 181,223 shares, valued at $15,442,011.83, representing a 2.63% decrease in her position. Director Mary Pat McCarthy also sold 2,404 shares at an average price of $92.93 per share in early March, for a total transaction of $223,403.72. Following the completion of the sale, the director now owns 27,358 shares valued at $2,542,378.94. This trade represents a 8.08% decrease in her ownership.
Insiders hold 0.30% of the company’s stock.
Stock Performance and Financial Data
On Wednesday, MU closed at $95.64, up $6.59 for the day. The trading volume was 23,554,716 shares, slightly above its average volume of 22,192,342 shares. The company’s 50-day moving average is $96.12, while its 200-day moving average is $98.07.
Key financial metrics include: a current ratio of 2.72; a quick ratio of 1.75; a debt-to-equity ratio of 0.28; a market capitalization of $106.56 billion; a P/E ratio of 27.56; and a beta of 1.23.
Micron Technology’s one-year low is $83.54, and its one-year high is $157.54.
The company reported its latest quarterly earnings on December 18, 2024, with earnings per share (EPS) of $1.79, exceeding analysts’ estimates of $1.60. Revenue for the quarter was $8.71 billion, matching the consensus estimate. The company’s net margin was 13.34%, and its return on equity was 8.32%. Year-over-year revenue increased by 84.3%. Analysts anticipate that Micron Technology will post $6.08 earnings per share for the current year.
Dividend Announcement
Micron Technology announced and paid a quarterly dividend of $0.115 per share on Wednesday, January 15th. Shareholders of record on December 30th received the dividend. This represents an annualized dividend of $0.46 and a yield of 0.48%. The payout ratio is currently 13.26%.
