UniSuper Management Pty Ltd Reduces Position in Micron Technology, Inc. $MU

UniSuper Management Pty Ltd decreased its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 340,929 shares of the semiconductor manufacturer’s stock after selling 14,108 shares during the period. Micron Technology accounts for 0.6% of UniSuper Management Pty Ltd’s investment portfolio, making the stock its 28th biggest position. UniSuper Management Pty Ltd’s holdings in Micron Technology were worth $97,305,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of MU. Norges Bank purchased a new position in Micron Technology during the fourth quarter worth $6,433,456,000. AQR Capital Management LLC grew its position in shares of Micron Technology by 411.9% in the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after purchasing an additional 2,918,535 shares during the period. Vanguard Group Inc. grew its position in shares of Micron Technology by 1.9% in 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 during the period. California Public Employees Retirement System grew its position in shares of Micron Technology by 70.2% in the third quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock valued at $505,942,000 after purchasing an additional 1,246,773 shares during the period. Finally, Voloridge Investment Management LLC grew its position in shares of Micron Technology by 1,064.3% in the third quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock valued at $218,264,000 after purchasing an additional 1,192,433 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Key Micron Technology News

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 Upgrades and Downgrades

MU has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lifted their price objective on Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Summit Insights downgraded Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. Wells Fargo & Company lifted their price objective on Micron Technology from $550.00 to $1,220.00 and gave the company an “overweight” rating in a research report on Monday. Sanford C. Bernstein lifted their price objective on Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Five research 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’s stock. According to data from MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and an average target price of $737.63.

Insider Transactions at Micron Technology

In other Micron Technology news, 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 transaction, the director owned 17,139 shares in the company, valued at $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 146,000 shares of company stock worth $85,486,715 over the last ninety days. 0.24% of the stock is owned by insiders.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $995.87 on Friday. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,089.29. The stock has a market capitalization of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16. 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 business’s fifty day moving average price is $665.31 and its 200 day moving average price is $459.87.

Micron Technology (NASDAQ:MU) last issued its 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 firm had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $19.97 billion. During the same quarter last year, the firm earned $1.56 earnings per share. The firm’s revenue for the quarter was up 196 compared to the same quarter last year. As a group, research analysts anticipate that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a $0.15 dividend. The ex-dividend date was Monday, March 30th. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology’s payout ratio 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.