Sustainable Insight Capital Management LLC Acquires New Holdings in Micron Technology, Inc. $MU

Sustainable Insight Capital Management LLC acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 965 shares of the semiconductor manufacturer’s stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares in the last quarter. State Street Corp raised its stake in shares of Micron Technology by 0.6% during the third quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock valued at $8,643,613,000 after purchasing an additional 285,582 shares in the last quarter. Capital International Investors raised its stake in shares of Micron Technology by 0.7% during the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock valued at $3,910,198,000 after purchasing an additional 155,860 shares in the last quarter. Norges Bank bought a new stake in shares of Micron Technology during the fourth quarter valued at about $6,433,456,000. Finally, Invesco Ltd. raised its stake in shares of Micron Technology by 8.0% during the third quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock valued at $1,609,981,000 after purchasing an additional 708,716 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Trending Headlines about 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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. DA Davidson assumed coverage on Micron Technology in a report on Monday, May 11th. They set a “buy” rating and a $1,000.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 target price on shares of Micron Technology in a report on Monday, March 16th. Barclays lifted their target price on Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Wedbush lifted their target price on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a report on Friday, March 13th. Finally, Stifel Nicolaus lifted their target price on Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Five equities 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $737.63.

Insider Buying and Selling

In related news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction dated 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 directly owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 146,000 shares of company stock worth $85,486,715. Company insiders own 0.24% of the company’s stock.

Micron Technology Trading Up 11.7%

Shares of MU opened at $995.87 on Friday. The business’s 50-day moving average price is $665.31 and its 200 day moving average price is $459.87. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,089.29. 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 (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping analysts’ consensus estimates of $9.19 by $3.01. The firm had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.Micron Technology’s revenue was up 196 on a year-over-year basis. During the same quarter last year, the business posted $1.56 EPS. Analysts expect 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 paid 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 yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is 2.83%.

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.