OMERS ADMINISTRATION Corp Acquires 6,620 Shares of Micron Technology, Inc. $MU

OMERS ADMINISTRATION Corp boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 16.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,481 shares of the semiconductor manufacturer’s stock after acquiring an additional 6,620 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Micron Technology were worth $13,266,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MU. Brighton Jones LLC lifted its holdings in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after buying an additional 976 shares during the period. Sivia Capital Partners LLC lifted its holdings in shares of Micron Technology by 21.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock valued at $435,000 after buying an additional 628 shares during the period. United Bank bought a new position in shares of Micron Technology during the 2nd quarter valued at $236,000. Schnieders Capital Management LLC. lifted its holdings in shares of Micron Technology by 67.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after buying an additional 6,867 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Micron Technology by 5.6% during the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock valued at $49,987,000 after buying an additional 21,619 shares during the period. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction on 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 sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 37,439 shares of the company’s stock in a transaction on Friday, May 29th. The stock was sold at an average price of $960.38, for a total value of $35,955,666.82. Following the completion of the sale, the chief executive officer owned 387,064 shares of the company’s stock, valued at $371,728,524.32. This trade represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 146,000 shares of company stock valued at $85,486,715. Company insiders own 0.24% of the company’s stock.

Micron Technology Trading Up 10.8%

NASDAQ:MU opened at $1,087.99 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 51.37 and a beta of 2.15. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,097.47. The business has a fifty day moving average price of $692.02 and a 200-day moving average price of $471.28.

Micron Technology (NASDAQ:MU) last posted 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. The firm had revenue of $23.86 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $1.56 EPS. Sell-side analysts forecast that Micron Technology, Inc. will post 59.23 EPS for the current year.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a $0.15 dividend. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

Analysts Set New Price Targets

Several research firms have recently weighed in on MU. Wolfe Research increased their price target on Micron Technology from $550.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday. TD Cowen increased their price target on Micron Technology from $660.00 to $1,500.00 and gave the company a “buy” rating in a report on Monday. Wedbush increased their price target on Micron Technology from $320.00 to $500.00 and gave the company an “outperform” rating in a report on Friday, March 13th. Royal Bank Of Canada increased their price target on Micron Technology from $525.00 to $1,200.00 and gave the company an “outperform” rating in a report on Monday. Finally, Rosenblatt Securities reissued a “buy” rating and set a $500.00 price target on shares of Micron Technology in a report on Monday, March 16th. Five 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $788.13.

Trending Headlines about Micron Technology

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

• Positive Sentiment: TD Cowen raised its price target to $1,500 and said AI-driven memory demand could support pricing strength through 2027.
• Positive Sentiment: RBC also lifted its target, citing a stronger memory cycle and continued AI demand for Micron’s DRAM and NAND products.
• Positive Sentiment: Multiple reports said memory-chip shortages and improving industry supply/demand dynamics are reinforcing a prolonged upcycle for MU.
• Positive Sentiment: The stock’s breakout to new highs is drawing additional momentum buyers and investors positioning ahead of earnings on June 24.
• Neutral Sentiment: Some market commentary notes MU has become extremely overbought after its massive run, which could lead to volatility even if the long-term outlook remains strong.
• Neutral Sentiment: Option-market data shows elevated implied volatility and bearish hedging, suggesting traders are pricing in a wide range of outcomes around earnings and other event risks.
• Negative Sentiment: A few articles warn that Micron’s rally may be too crowded and that memory margins may not stay at peak levels indefinitely, increasing pullback risk.

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.