Micron Technology, Inc. $MU Shares Bought by Aviva PLC

Aviva PLC raised its position in Micron Technology, Inc. (NASDAQ:MU) by 5.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 937,307 shares of the semiconductor manufacturer’s stock after acquiring an additional 49,367 shares during the quarter. Aviva PLC’s holdings in Micron Technology were worth $267,517,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC increased its stake in Micron Technology by 2.4% in the 4th quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer’s stock valued at $301,000 after buying an additional 24 shares during the period. Round Rock Advisors LLC increased its stake in Micron Technology by 0.6% in the 4th quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer’s stock valued at $1,237,000 after buying an additional 25 shares during the period. Arlington Trust Co LLC increased its stake in Micron Technology by 26.3% in the 4th quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer’s stock valued at $34,000 after buying an additional 25 shares during the period. Manuka Financial LLC increased its stake in Micron Technology by 2.3% in the 4th quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer’s stock valued at $355,000 after buying an additional 28 shares during the period. Finally, Valued Wealth Advisors LLC increased its stake in Micron Technology by 20.9% in the 4th quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer’s stock valued at $48,000 after buying an additional 29 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In related news, CEO Sanjay Mehrotra sold 37,439 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $960.38, for a total value of $35,955,666.82. Following the sale, the chief executive officer directly owned 387,064 shares in the company, valued at $371,728,524.32. The trade was a 8.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 146,000 shares of company stock valued at $85,486,715 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $995.87 on Friday. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,089.29. 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 company’s fifty day moving average is $665.31 and its two-hundred day moving average is $459.87. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same period in the previous year, the firm earned $1.56 EPS. The business’s revenue for the quarter was up 196 compared to the same quarter last year. Analysts forecast that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

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

Key Headlines Impacting Micron Technology

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

Analyst Ratings Changes

Several brokerages have commented on MU. Citigroup boosted their target price on shares of Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research report on Tuesday, May 19th. Wells Fargo & Company boosted their target price on shares of Micron Technology from $550.00 to $1,220.00 and gave the stock an “overweight” rating in a research report on Monday. The Goldman Sachs Group boosted their target price on shares of Micron Technology from $400.00 to $900.00 and gave the stock a “neutral” rating in a research report on Wednesday. Wolfe Research boosted their target price on shares of Micron Technology from $550.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Sanford C. Bernstein boosted their target price on shares of Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Five investment 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’s stock. According to MarketBeat, Micron Technology presently has an average rating of “Buy” and an average target price of $737.63.

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.