Great Lakes Advisors LLC Decreases Position in Micron Technology, Inc. $MU

Great Lakes Advisors LLC cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 26.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 565,035 shares of the semiconductor manufacturer’s stock after selling 206,804 shares during the quarter. Micron Technology makes up approximately 1.3% of Great Lakes Advisors LLC’s portfolio, making the stock its 16th largest holding. Great Lakes Advisors LLC owned approximately 0.05% of Micron Technology worth $161,268,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in 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 buying an additional 1,954,644 shares in the last quarter. State Street Corp raised its holdings in Micron Technology by 0.6% in the 3rd quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock valued at $8,643,613,000 after acquiring an additional 285,582 shares during the last quarter. Capital International Investors raised its holdings in Micron Technology by 0.7% in the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock valued at $3,910,198,000 after acquiring an additional 155,860 shares during the last quarter. Norges Bank acquired a new stake in Micron Technology in the 4th quarter valued at about $6,433,456,000. Finally, Invesco Ltd. raised its holdings in Micron Technology by 8.0% in the 3rd quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock valued at $1,609,981,000 after acquiring an additional 708,716 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 11.7%

Shares of NASDAQ MU opened at $995.87 on Friday. The company has a 50 day simple moving average of $665.31 and a 200-day simple moving average of $459.87. The company 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 debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. Micron Technology, Inc. has a 1 year low of $103.38 and a 1 year high of $1,089.29.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business’s revenue was up 196 compared to the same quarter last year. During the same quarter last year, the firm earned $1.56 EPS. On average, equities research analysts predict that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

Micron Technology Increases Dividend

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

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 37,439 shares of Micron Technology stock in a transaction that occurred on Friday, May 29th. The shares were 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 in the company, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares of the company’s stock, valued at $13,488,907.17. This trade represents a 10.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 146,000 shares of company stock worth $85,486,715 over the last quarter. Company insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MU shares. Wolfe Research increased their price objective on shares of Micron Technology from $550.00 to $1,250.00 and gave the company an “outperform” rating in a report on Thursday. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, March 19th. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $400.00 to $900.00 and gave the company a “neutral” rating in a report on Wednesday. Royal Bank Of Canada increased their price objective on shares of Micron Technology from $425.00 to $525.00 and gave the company an “outperform” rating in a report on Monday, March 16th. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price objective on shares of Micron Technology in a report 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’s stock. Based on data from MarketBeat.com, Micron Technology presently has an average rating of “Buy” and an average price target of $737.63.

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

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.