Merit Financial Group LLC Increases Stake in Micron Technology, Inc.

On January 21, 2025, it was reported that Merit Financial Group LLC has made significant moves in its investment strategy. During the fourth quarter, the company increased its holdings in Micron Technology, Inc. (NASDAQ: MU) by 170.2%, acquiring an additional 10,005 shares. This brought Merit Financial Group's total ownership to 15,882 shares, reflecting an investment value of approximately $1,337,000, based on their latest filing with the Securities and Exchange Commission.

Other institutional investors have also shown interest in Micron Technology recently. For example, Highline Wealth Partners LLC initiated a new stake in the semiconductor company during the third quarter, valued around $26,000. Similarly, Davis Capital Management entered a new position, investing approximately $30,000 in the same period. Additionally, Strategic Investment Solutions Inc. acquired shares in the second quarter for about $39,000. Stone House Investment Management LLC made a notable move by increasing its position by 602.2% during the third quarter, now holding 323 shares valued at $34,000 after adding 277 shares over the last quarter. True Wealth Design LLC also raised its stake by 1,096.3% during the third quarter, now owning 323 shares valued at $33,000 after buying 296 more shares.

As a result, institutional investors now own about 80.84% of Micron Technology's stock, showcasing significant confidence in the company's future.

Recent Analyst Ratings

In the financial community, several analysts have recently updated their price targets for Micron Technology. Notably, Robert W. Baird lowered its price target from $150.00 to $130.00 while maintaining an “outperform” rating. Similarly, Sanford C. Bernstein adjusted their target from $140.00 to $120.00, also assigning an “outperform” rating. UBS Group reduced its target from $135.00 to $125.00, again giving a “buy” rating. KeyCorp made a downward revision from $145.00 to $135.00, while Piper Sandler has now set their new target at $120.00, lowering it from $150.00. Overall, one analyst has given a sell rating, three have rated it as hold, and twenty-three analysts have issued buy ratings for the stock. According to recent data, the stock is currently rated as a “Moderate Buy” with an average target price of $135.24.

Market Performance

Micron Technology opened at $105.75 on a recent Tuesday, showing a 3.1% increase. Over the past year, Micron’s stock has fluctuated significantly, with a low of $79.15 and a high of $157.54. The company boasts a market capitalization of $117.82 billion, a price-to-earnings ratio of 30.48, and a beta of 1.18, indicating volatility. Current financial indicators show a fifty-day simple moving average of $97.87 and a two-hundred-day simple moving average of $102.02. The firm's current ratio stands at 2.72, with a quick ratio of 1.75 and a debt-to-equity ratio of 0.28.

Micron Technology recently reported its quarterly earnings on December 18. The firm announced earnings of $1.79 per share for the quarter, outperforming the expected consensus of $1.60. With revenues totaling $8.71 billion, it matched analysts' estimates, and this marked an impressive increase of 84.3% compared to the previous year when it had posted a loss of $0.95 per share. Analysts project that for the current year, Micron will deliver an earnings per share of around $6.25.

Dividend Information

In terms of shareholder returns, Micron Technology announced a quarterly dividend recently, which was paid out on January 15. Shareholders on record as of December 30 received a dividend of $0.115. The ex-dividend date also fell on December 30. This dividend equates to an annualized dividend of $0.46, yielding 0.43%. The company’s current payout ratio is approximately 13.26%, indicating a sustainable approach towards dividends.

Insider Transactions

On another note regarding insider activity, Executive Vice President April S. Arnzen sold 4,890 shares of the company on December 20 at an average price of $85.21, totaling approximately $416,676.90. Post-sale, she retains ownership of 181,223 shares valued at around $15,442,011.83, which was a 2.63% decrease in her stake in the company. Such transactions have been disclosed through official filings with the SEC.

About Micron Technology

Micron Technology, Inc. is a global leader in designing, developing, and manufacturing memory and storage products. The company operates through four primary segments: the Compute and Networking Business Unit, the Mobile Business Unit, the Embedded Business Unit, and the Storage Business Unit. Micron is known for its production of various memory technologies, including high-speed dynamic random access memory (DRAM) and non-volatile storage devices under the Micron and Crucial brands.

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