Swiss Life Asset Management Ltd Grows Holdings in Micron Technology, Inc. $MU

Swiss Life Asset Management Ltd grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 56.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 252,679 shares of the semiconductor manufacturer’s stock after acquiring an additional 91,176 shares during the period. Swiss Life Asset Management Ltd’s holdings in Micron Technology were worth $72,117,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president directly owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the 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 completion of the sale, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 104,000 shares of company stock valued at $45,458,400. Insiders own 0.24% of the company’s stock.

Key Micron Technology News

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

Micron Technology Trading Down 0.1%

Shares of NASDAQ:MU opened at $746.33 on Monday. Micron Technology, Inc. has a 52 week low of $84.68 and a 52 week high of $747.21. The company’s 50 day moving average is $435.84 and its two-hundred day 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. The company has a market cap of $841.66 billion, a PE ratio of 35.24 and a beta of 1.91.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were given a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 dividend on an annualized basis 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 currently 2.83%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MU. Melius Research began coverage on shares of Micron Technology in a research note on Monday, April 27th. They set a “buy” rating and a $700.00 target price on the stock. Wedbush upped their target price on shares of Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research note on Friday, March 13th. Stifel Nicolaus upped their target price on shares of Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. Mizuho upped their target price on shares of Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Finally, Royal Bank Of Canada upped their target price on shares of Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a research note on Monday, March 16th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $478.24.

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.