Russell Investments Group Ltd. lifted its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 43.9% during the second quarter, HoldingsChannel.com reports. The fund owned 1,579,950 shares of the semiconductor manufacturer’s stock after purchasing an additional 482,275 shares during the period. Micron Technology makes up approximately 1.6% of Russell Investments Group Ltd.’s investment portfolio, making the stock its 8th biggest holding. Russell Investments Group Ltd.’s holdings in Micron Technology were worth $1,822,006,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. High Note Wealth LLC increased its stake in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after purchasing an additional 34 shares in the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in shares of Micron Technology during the first quarter worth $27,000. Bayban bought a new position in shares of Micron Technology during the fourth quarter worth $29,000. Joseph Group Capital Management acquired a new position in shares of Micron Technology in the 4th quarter valued at $31,000. Finally, Luken Investment Analytics LLC bought a new stake in shares of Micron Technology in the 4th quarter valued at $31,000. Institutional investors own 80.84% of the company’s stock.
Micron Technology Price Performance
NASDAQ MU opened at $938.40 on Thursday. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05. Micron Technology, Inc. has a 12-month low of $114.25 and a 12-month high of $1,255.00. The company has a market capitalization of $1.06 trillion, a PE ratio of 21.25 and a beta of 2.18. The firm’s 50 day moving average is $959.62 and its 200-day moving average is $709.37.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th were paid a dividend of $0.15 per share. The ex-dividend date was Monday, July 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio is currently 1.36%.
Trending Headlines about Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Analyst optimism is supporting the rebound. BMO initiated coverage with an “outperform” rating and a $1,300 price target, while Mizuho maintained its “outperform” rating and set a $1,300 target despite lowering its estimate from $1,375. Finance giant sets aggressive Micron stock target after earnings
- Positive Sentiment: Investor commentary remains bullish on Micron’s long-term growth. The company’s latest quarter generated approximately $41.5 billion in revenue, up more than 345% year over year, with earnings substantially exceeding expectations. Analysts and commentators also point to accelerating revenue and profit growth and the possibility of the stock reaching $1,300 by year-end. Prediction: Micron Stock Will Reach $1,300 by the End of 2026
- Positive Sentiment: Reports that DRAM and high-bandwidth memory prices could rise sharply this quarter reinforce Micron’s pricing power. Demand from AI data centers continues to exceed supply, while management expects the memory industry to expand over the long run. Memory Shortage Deepens to Worst Levels Since 2017
- Neutral Sentiment: Micron promoted Manish Bhatia to president and chief operating officer and Scott DeBoer to president and chief technology and products officer. The changes are intended to improve execution and innovation as AI-related memory demand grows, but their financial impact will take time to assess. Micron Announces Leadership Appointments
- Neutral Sentiment: Micron will report fiscal fourth-quarter results on September 30. The release is a potential catalyst because investors will look for evidence that AI demand, pricing and margins remain strong. Micron to Report Fiscal Fourth Quarter Results
- Negative Sentiment: Risks include competition from China’s YMTC, the possibility that long-term contracts limit Micron’s ability to capture rising spot prices, and the memory industry’s historically cyclical downturns. CEO Sanjay Mehrotra’s sale of 40,000 shares for approximately $38.8 million—and continued insider selling without reported purchases—may also weigh on sentiment. Sanjay Mehrotra Sells 40,000 Shares
Analyst Ratings Changes
MU has been the topic of several recent analyst reports. New Street Research upgraded Micron Technology from a “neutral” rating to a “buy” rating and set a $1,250.00 target price on the stock in a report on Friday, August 14th. Stifel Nicolaus raised their price target on Micron Technology from $550.00 to $1,500.00 and gave the stock a “buy” rating in a research report on Thursday, June 18th. Barclays lifted their price objective on Micron Technology from $1,175.00 to $2,000.00 and gave the company an “overweight” rating in a report on Thursday, June 25th. TD Cowen restated a “buy” rating on shares of Micron Technology in a report on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Micron Technology from $1,500.00 to $1,550.00 and gave the company a “buy” rating in a research note on Thursday, June 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $1,295.63.
Read Our Latest Research Report on MU
Insider Activity at Micron Technology
In other news, Director Lynn A. Dugle sold 1,300 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the completion of the sale, the director owned 17,728 shares of the company’s stock, valued at approximately $20,394,823.04. This represents a 6.83% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $1,083.94, for a total transaction of $43,357,600.00. Following the completion of the transaction, the executive vice president directly owned 85,737 shares of the company’s stock, valued at $92,933,763.78. This represents a 31.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 217,179 shares of company stock worth $220,582,211. Insiders own 0.24% of the company’s stock.
Micron Technology 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.
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