Tredje AP fonden Buys 258,311 Shares of Micron Technology, Inc. $MU

Tredje AP fonden boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 117.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 478,311 shares of the semiconductor manufacturer’s stock after buying an additional 258,311 shares during the quarter. Micron Technology comprises approximately 1.0% of Tredje AP fonden’s investment portfolio, making the stock its 20th largest holding. Tredje AP fonden’s holdings in Micron Technology were worth $136,515,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. iA Global Asset Management Inc. raised its holdings in Micron Technology by 18.7% during the 3rd quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock worth $24,578,000 after purchasing an additional 23,117 shares during the last quarter. Generation Capital Management LLC bought a new stake in shares of Micron Technology in the 3rd quarter valued at $238,000. Wealthfront Advisers LLC boosted its stake in shares of Micron Technology by 9.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock valued at $15,962,000 after purchasing an additional 8,489 shares during the last quarter. Westpac Banking Corp increased its position in shares of Micron Technology by 251.0% during the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock worth $3,863,000 after buying an additional 16,509 shares during the period. Finally, Avanda Investment Management Pte. Ltd. acquired a new stake in shares of Micron Technology during the third quarter worth $418,000. Institutional investors own 80.84% of the company’s stock.

More Micron Technology News

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Micron remains a major beneficiary of the AI boom, with reports highlighting record highs, strong demand for high-bandwidth memory (HBM), and tight supply that is supporting pricing power and a favorable revenue/margin outlook. Article Title
• Positive Sentiment: News that Samsung may face labor disruptions lifted hopes for tighter memory-chip supply, which can benefit Micron by supporting stronger industry pricing and potentially improving margins. Article Title
• Positive Sentiment: Multiple market pieces pointed to Micron as one of the standout AI trade names, reinforcing investor enthusiasm for the stock after its huge run over the past year. Article Title
• Neutral Sentiment: Several articles focused on bullish investor commentary and portfolio updates, but these were more sentiment-driven than fundamentally new, so they are unlikely to be the main driver of the stock today. Article Title
• Negative Sentiment: Micron came under pressure from a broader semiconductor sell-off and investor worries that the AI rally has pushed memory-chip valuations too far too fast. Article Title
• Negative Sentiment: Some coverage also flagged concerns about demand durability, China exposure, and the risk that memory-market conditions could weaken if AI spending cools. Article Title

Insider Transactions at Micron Technology

In related news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director directly owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. This represents a 10.45% 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, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 106,000 shares of company stock valued at $47,032,460. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 6.0%

MU opened at $681.54 on Tuesday. Micron Technology, Inc. has a 1-year low of $90.93 and a 1-year high of $818.67. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The company has a market cap of $768.60 billion, a P/E ratio of 32.18 and a beta of 1.91. The company has a fifty day moving average price of $484.78 and a two-hundred day moving average price of $374.96.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio is presently 2.83%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MU shares. Weiss Ratings restated a “buy (b)” rating on shares of Micron Technology in a report on Tuesday, May 12th. Royal Bank Of Canada increased their price target on Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. TD Cowen lifted their price objective on Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research report on Tuesday, April 28th. The Goldman Sachs Group boosted their price objective on Micron Technology from $360.00 to $400.00 and gave the company a “neutral” rating in a research note on Thursday, March 19th. Finally, KeyCorp upped their target price on Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Micron Technology presently has an average rating of “Buy” and a consensus price target of $495.63.

About Micron Technology

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.