Investment Management Corp of Ontario Has $28.46 Million Stock Position in Micron Technology, Inc. $MU

Investment Management Corp of Ontario grew its position in Micron Technology, Inc. (NASDAQ:MU) by 89.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,728 shares of the semiconductor manufacturer’s stock after buying an additional 47,201 shares during the quarter. Investment Management Corp of Ontario’s holdings in Micron Technology were worth $28,463,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its holdings in shares of Micron Technology by 109.2% in the fourth quarter. Janus Henderson Group PLC now owns 3,246,818 shares of the semiconductor manufacturer’s stock worth $926,636,000 after buying an additional 1,694,681 shares during the period. Evolve Private Wealth LLC acquired a new position in shares of Micron Technology in the fourth quarter worth about $2,607,000. Engineers Gate Manager LP boosted its holdings in shares of Micron Technology by 24.4% in the fourth quarter. Engineers Gate Manager LP now owns 32,060 shares of the semiconductor manufacturer’s stock worth $9,150,000 after buying an additional 6,284 shares during the period. Evergreen Quality Fund GP Ltd. acquired a new position in shares of Micron Technology in the fourth quarter worth about $317,098,000. Finally, Capitolis Liquid Global Markets LLC boosted its holdings in shares of Micron Technology by 72.7% in the fourth quarter. Capitolis Liquid Global Markets LLC now owns 257,000 shares of the semiconductor manufacturer’s stock worth $73,350,000 after buying an additional 108,200 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup raised their target price on shares of Micron Technology from $840.00 to $1,200.00 and gave the stock a “buy” rating in a report on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on shares of Micron Technology from $1,000.00 to $1,500.00 and gave the stock a “buy” rating in a report on Wednesday. Cantor Fitzgerald raised their price target on shares of Micron Technology from $700.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Mizuho raised their price target on shares of Micron Technology to $800.00 and gave the stock an “outperform” rating in a report on Tuesday, May 19th. Finally, UBS Group raised their price target on shares of Micron Technology from $535.00 to $1,625.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Buy” and an average target price of $831.80.

Key Micron Technology News

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

• Positive Sentiment: Deutsche Bank raised its price target on Micron to $1,500 and reiterated a buy rating, citing persistent supply constraints and strong demand from AI applications. Micron Technology had its price target raised by Deutsche Bank Aktiengesellschaft from $1,000.00 to $1,500.00. They now have a “buy” rating on the stock.
• Positive Sentiment: Citi also raised its target on Micron to $1,200, reinforcing Wall Street’s view that AI-driven memory demand and stronger pricing power are supporting further upside. Micron Technology had its price target raised by Citigroup Inc. from $840.00 to $1,200.00. They now have a “buy” rating on the stock.
• Positive Sentiment: Multiple recent articles highlighted Micron’s surging revenue, expanding profitability, and unusually strong demand for DRAM, NAND, and high-bandwidth memory, which are key components in AI infrastructure. Micron: New Data Indicates Consensus Estimates Are Too Conservative (Earnings Preview)
• Positive Sentiment: Micron is being framed as a likely beneficiary of the next wave of AI spending, with several outlets saying its rally is supported by improving fundamentals and upcoming earnings expectations. Micron (MU) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Some commentary noted that Micron may be a candidate for a future stock split after crossing the $1,000 level, but that would be more of a sentiment event than a direct fundamental driver. Will Micron Split Its Stock This Year?
• Neutral Sentiment: There were also a few cautionary takes warning that Micron’s earnings power could be near a cycle peak, which could temper enthusiasm if memory pricing cools later. Micron: Peak Earnings Power Meets The Cycle Clock (Rating Downgrade)

Micron Technology Stock Performance

MU stock opened at $1,043.19 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The stock has a market cap of $1.18 trillion, a P/E ratio of 49.25 and a beta of 2.16. The firm has a 50 day simple moving average of $718.42 and a 200 day simple moving average of $482.57. Micron Technology, Inc. has a 52 week low of $103.38 and a 52 week high of $1,110.40.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating the consensus estimate of $9.19 by $3.01. The firm had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company’s revenue for the quarter was up 196 on a year-over-year basis. During the same quarter last year, the firm earned $1.56 earnings per share. Research analysts anticipate that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the transaction, the executive vice president directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% 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 ninety days. Insiders own 0.24% of the company’s stock.

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.