Sunpointe LLC & Institutions Increase Stakes in Micron Tech

Mark Eisenberg
Photo: Finoracle.net

Sunpointe LLC Invests $234,000 in Micron Technology

In a strategic move, Sunpointe LLC has acquired a new position in Micron Technology, Inc. during the 4th quarter. The institutional investor purchased 2,740 shares of the semiconductor manufacturer’s stock, valued at approximately $234,000.

Numerous hedge funds and other institutional investors have also recently modified their holdings of Micron Technology's stock. Last quarter, Northern Trust Corp boosted its holdings by 0.7%. The firm now owns 10,833,670 shares worth $737,015,000 after acquiring an additional 80,345 shares.

Invesco Ltd. also increased its stake by 11.8%, now owning 8,807,926 shares valued at $599,203,000. Other significant investments come from Merlin Capital Inc, TCW Group Inc., and Savoie Capital LLC. As a result, 80.84% of the company’s stock is currently owned by hedge funds and institutional investors.

Micron Technology Stock Performance

NASDAQ MU saw a slight downturn, with shares down 1.2%, opening at $141.36 on Friday. The company's financial metrics reveal a current ratio of 3.74, a quick ratio of 2.40, and a debt-to-equity ratio of 0.30. Micron Technology has a 52-week low of $60.50 and a 52-week high of $144.22.

Quarterly financials released on March 20th reflected impressive performance. The semiconductor giant reported $0.42 earnings per share (EPS) for the quarter, surpassing analysts’ consensus estimates by $0.69. The firm also saw a year-over-year revenue increase of 57.7%, totaling $5.82 billion.

Micron Technology Dividend Announcement

Micron Technology recently announced its quarterly dividend, paid on April 16th. Shareholders of record as of April 1st received $0.115 per share, representing an annualized dividend of $0.46 with a yield of 0.33%. The company's dividend payout ratio currently stands at -13.33%.

Insider Buying and Selling

There has been significant insider trading activity within Micron Technology. CEO Sanjay Mehrotra sold 7,000 shares at an average price of $93.08, yielding approximately $651,560. Additionally, EVP April S. Arnzen sold 4,890 shares at an average price of $119.30, totaling around $583,377. Over the past three months, insiders have sold 372,446 shares worth approximately $44,478,193.

Analyst Ratings and Forecasts

Industry analysts are optimistic about Micron Technology's future performance. Morgan Stanley upgraded its rating from “underweight” to “equal weight”, with a price objective increasing from $98.00 to $130.00. Robert W. Baird and KeyCorp also raised their price targets to $150.00. Meanwhile, JPMorgan Chase & Co. revised their target to $130.00 with an “overweight” rating. Overall, the stock has an average rating of “Moderate Buy” with an average target price of $130.16.

Company Profile: Micron Technology

Micron Technology, Inc. is a global leader in memory and storage solutions. The company operates through four primary segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It specializes in dynamic random access memory (DRAM), non-volatile re-writable semiconductor memory, as well as providing products under the Micron and Crucial brands.

For further information, visit Micron Technology's official site.

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Mark Eisenberg is a financial analyst and writer with over 15 years of experience in the finance industry. A graduate of the Wharton School of the University of Pennsylvania, Mark specializes in investment strategies, market analysis, and personal finance. His work has been featured in prominent publications like The Wall Street Journal, Bloomberg, and Forbes. Mark’s articles are known for their in-depth research, clear presentation, and actionable insights, making them highly valuable to readers seeking reliable financial advice. He stays updated on the latest trends and developments in the financial sector, regularly attending industry conferences and seminars. With a reputation for expertise, authoritativeness, and trustworthiness, Mark Eisenberg continues to contribute high-quality content that helps individuals and businesses make informed financial decisions.​⬤