Micron Technology, Inc. $MU Shares Purchased by Logan Capital Management Inc.

Logan Capital Management Inc. boosted its stake in Micron Technology, Inc. (NASDAQ:MU) by 1,142,550.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,559 shares of the semiconductor manufacturer’s stock after buying an additional 68,553 shares during the period. Micron Technology accounts for approximately 0.8% of Logan Capital Management Inc.’s investment portfolio, making the stock its 26th largest holding. Logan Capital Management Inc.’s holdings in Micron Technology were worth $19,567,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MU. Heritage Trust Co increased its holdings in shares of Micron Technology by 9.7% during the fourth quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock valued at $4,289,000 after purchasing an additional 1,323 shares during the period. Generation Capital Management LLC acquired a new position in shares of Micron Technology during the third quarter valued at $238,000. Westpac Banking Corp boosted its stake in Micron Technology by 251.0% during the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock valued at $3,863,000 after buying an additional 16,509 shares in the last quarter. Avanda Investment Management Pte. Ltd. bought a new position in Micron Technology during the third quarter valued at about $418,000. Finally, Wellington Management Group LLP boosted its stake in Micron Technology by 19.9% during the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock valued at $1,196,427,000 after buying an additional 1,188,296 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction on Monday, May 11th. The stock was 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 $13,488,907.17. This trade represents a 10.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the transaction, the chief executive officer owned 424,503 shares of the company’s stock, valued at $227,643,978.78. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 146,000 shares of company stock worth $85,486,715. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on MU. Bank of America raised their target price on Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Raymond James Financial raised their target price on Micron Technology from $530.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 target price on shares of Micron Technology in a research note on Monday, March 16th. Wells Fargo & Company raised their target price on Micron Technology from $550.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Sanford C. Bernstein raised 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. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $737.63.

Micron Technology Trading Up 11.7%

NASDAQ:MU opened at $995.87 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,089.29. The firm has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 47.02 and a beta of 2.16. The stock has a fifty day simple moving average of $665.31 and a 200 day simple moving average of $459.87.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. During the same quarter last year, the company posted $1.56 EPS. Micron Technology’s revenue for the quarter was up 196 on a year-over-year basis. Sell-side analysts forecast that Micron Technology, Inc. will post 59.23 earnings per share for the current 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 given a $0.15 dividend. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio is 2.83%.

Micron Technology News Summary

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

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.