Micron Technology, Inc. $MU Position Boosted by Ethic Inc.

Ethic Inc. grew its holdings in Micron Technology, Inc. (NASDAQ:MU) by 0.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 130,044 shares of the semiconductor manufacturer’s stock after purchasing an additional 840 shares during the period. Micron Technology comprises 0.6% of Ethic Inc.’s portfolio, making the stock its 18th largest holding. Ethic Inc.’s holdings in Micron Technology were worth $37,116,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. AQR Capital Management LLC grew its position in Micron Technology by 411.9% during the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after purchasing an additional 2,918,535 shares in the last quarter. Vanguard Group Inc. lifted its position in Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after buying an additional 1,954,644 shares in the last quarter. California Public Employees Retirement System lifted its position in Micron Technology by 70.2% in the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock worth $505,942,000 after buying an additional 1,246,773 shares in the last quarter. Voloridge Investment Management LLC boosted its stake in shares of Micron Technology by 1,064.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock valued at $218,264,000 after buying an additional 1,192,433 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Micron Technology by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock valued at $1,196,427,000 after acquiring an additional 1,188,296 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Sanford C. Bernstein boosted their target price on Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Wedbush upped their target price on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, March 13th. TD Cowen raised their price target on Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Finally, Bank of America lifted their price target on Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Micron Technology currently has an average rating of “Buy” and a consensus target price of $478.24.

Micron Technology Trading Up 15.4%

Shares of MU stock opened at $746.33 on Friday. The firm has a market capitalization of $841.66 billion, a P/E ratio of 35.24 and a beta of 1.91. Micron Technology, Inc. has a 1 year low of $84.68 and a 1 year high of $747.21. The firm’s fifty day simple moving average is $435.84 and its 200 day simple moving average is $348.07. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were given a dividend of $0.15 per share. 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 currently 2.83%.

Insider Activity

In related news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 104,000 shares of company stock valued at $45,458,400. Insiders own 0.24% of the company’s stock.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What’s Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

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.