ICICI Prudential Asset Management Co Ltd increased its position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 5.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,060 shares of the semiconductor manufacturer’s stock after buying an additional 874 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Micron Technology were worth $5,155,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. High Note Wealth LLC raised its stake in shares of Micron Technology by 65.4% during the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC lifted its stake in shares of Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Micron Technology by 91.2% during the 4th quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 52 shares in the last quarter. Finally, Joseph Group Capital Management bought a new stake in shares of Micron Technology during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts recently weighed in on MU shares. Susquehanna boosted their target price on Micron Technology from $600.00 to $1,750.00 and gave the stock a “positive” rating in a report on Friday, May 29th. Sanford C. Bernstein lifted their price target on shares of Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. Barclays upped their price objective on shares of Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft raised their target price on Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Finally, Mizuho increased their price objective on Micron Technology to $800.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $737.63.
Micron Technology Stock Up 11.7%
Shares of MU opened at $995.87 on Friday. The business’s 50 day simple moving average is $665.31 and its 200-day simple moving average is $459.87. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The company has a market capitalization of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,089.29.
Micron Technology (NASDAQ:MU – Get Free Report) last released its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 41.16% and a net margin of 41.49%.The firm’s revenue for the quarter was up 196 compared to the same quarter last year. During the same period in the previous year, the business posted $1.56 earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 59.23 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. Investors of record on Monday, March 30th were issued a $0.15 dividend. This is an increase 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 of this dividend was Monday, March 30th. Micron Technology’s dividend payout ratio (DPR) is 2.83%.
Key Stories Impacting Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
- Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
- Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
- Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project
Insider Transactions at Micron Technology
In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 2,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the transaction, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,000 shares of company stock worth $85,486,715 in the last quarter. 0.24% of the stock is owned by corporate insiders.
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.
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