K.J. Harrison & Partners Inc increased its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 33.3% in the first quarter, HoldingsChannel.com reports. The fund owned 4,000 shares of the semiconductor manufacturer’s stock after buying an additional 1,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in Micron Technology were worth $1,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Micron Technology by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. State Street Corp lifted its holdings in shares of Micron Technology by 2.1% in the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock valued at $15,061,310,000 after buying an additional 1,090,644 shares during the period. Capital International Investors boosted its stake in shares of Micron Technology by 0.7% in the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after buying an additional 155,860 shares during the last quarter. Norges Bank purchased a new stake in shares of Micron Technology in the fourth quarter worth about $6,433,456,000. Finally, Morgan Stanley boosted its stake in shares of Micron Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock worth $4,679,771,000 after buying an additional 794,289 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology Stock Performance
Shares of MU stock opened at $975.56 on Friday. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,255.00. The company has a market cap of $1.10 trillion, a price-to-earnings ratio of 22.09 and a beta of 2.14. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 2.98. The stock has a 50 day simple moving average of $876.93 and a 200-day simple moving average of $552.77.
Micron Technology Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Monday, July 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Monday, July 6th. Micron Technology’s dividend payout ratio is 1.36%.
Insider Activity at Micron Technology
In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the sale, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lynn A. Dugle sold 1,300 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the transaction, the director directly owned 17,728 shares of the company’s stock, valued at $20,394,823.04. The trade was a 6.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 147,300 shares of company stock worth $119,422,004 in the last quarter. Company insiders own 0.24% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently weighed in on MU shares. Raymond James Financial lifted their price target on Micron Technology from $1,100.00 to $1,500.00 and gave the company an “outperform” rating in a research report on Thursday, June 25th. Wells Fargo & Company boosted their target price on shares of Micron Technology from $1,220.00 to $1,525.00 and gave the company an “overweight” rating in a research note on Thursday, June 25th. TD Cowen increased their price target on shares of Micron Technology from $1,500.00 to $1,600.00 and gave the stock a “buy” rating in a report on Thursday, June 25th. Bank of America raised their price target on shares of Micron Technology from $950.00 to $1,500.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. Finally, Royal Bank Of Canada lifted their price objective on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the company an “outperform” rating in a report on Thursday, June 25th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $1,263.76.
Key Headlines Impacting Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron continues to benefit from strong earnings, tight memory-chip supply, and bullish analyst views following its blowout quarterly report. The Single Most Important Number from Micron’s Monster Earnings Report
- Positive Sentiment: A new long-term supply deal with General Motors broadens Micron’s customer base and supports demand visibility beyond AI data centers. General Motors Secures Micron Deal For Future Software Defined Vehicles
- Neutral Sentiment: Micron’s $250 million Trump Accounts commitment is generating headlines, but it is unlikely to materially affect near-term earnings. Micron Technology Announces $250 Mln Investment In Trump Accounts
- Negative Sentiment: Broad selling in semiconductor and memory stocks, along with fears of future oversupply, is pressuring MU alongside peers like SanDisk and Seagate. Micron Stock Extends Decline Despite Trump’s Praise and Bullish Analyst Views
- Negative Sentiment: Michael Burry’s new short position against Micron added a high-profile bearish catalyst and may be fueling caution around the stock. Michael Burry Says He Shorted Micron Technology
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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