Aviva PLC Increases Stock Position in Micron Technology, Inc. $MU

Aviva PLC boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 937,307 shares of the semiconductor manufacturer’s stock after buying an additional 49,367 shares during the quarter. Aviva PLC owned 0.08% of Micron Technology worth $267,517,000 as of its most recent SEC filing.

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

Micron Technology Trading Up 11.7%

NASDAQ MU opened at $995.87 on Friday. The firm’s fifty day moving average price is $665.31 and its 200 day moving average price is $459.87. The company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 47.02 and a beta of 2.16. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,089.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. The business had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company’s quarterly revenue was up 196 on a year-over-year basis. During the same period in the previous year, the company posted $1.56 EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

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

Wall Street Analysts Forecast Growth

MU has been the subject of several recent research reports. Morgan Stanley raised their price objective on shares of Micron Technology from $520.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, June 3rd. UBS Group raised their price objective on shares of Micron Technology from $535.00 to $1,625.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Stifel Nicolaus raised their price objective on shares of Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Citigroup raised their price objective on shares of Micron Technology from $425.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. Finally, Raymond James Financial raised their price objective on shares of Micron Technology from $530.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Monday, June 1st. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $737.63.

More 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

Insider Buying and Selling at Micron Technology

In other news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares in the company, valued at $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 146,000 shares of company stock valued at $85,486,715. Insiders own 0.24% of the company’s stock.

Micron Technology Company 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.