Allstate Corp Has $24.38 Million Stake in Micron Technology, Inc. $MU

Allstate Corp increased its position in Micron Technology, Inc. (NASDAQ:MU) by 109.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 85,407 shares of the semiconductor manufacturer’s stock after purchasing an additional 44,721 shares during the period. Allstate Corp’s holdings in Micron Technology were worth $24,376,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Micron Technology by 207.6% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,707 shares of the semiconductor manufacturer’s stock valued at $773,000 after buying an additional 1,827 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Micron Technology by 9.0% during the 4th quarter. Fisher Asset Management LLC now owns 53,530 shares of the semiconductor manufacturer’s stock valued at $15,278,000 after buying an additional 4,408 shares during the period. Choate Investment Advisors boosted its stake in shares of Micron Technology by 35.9% during the 4th quarter. Choate Investment Advisors now owns 3,693 shares of the semiconductor manufacturer’s stock valued at $1,054,000 after buying an additional 975 shares during the period. Sandy Cove Advisors LLC acquired a new stake in shares of Micron Technology during the 4th quarter valued at $227,000. Finally, 44 Wealth Management LLC boosted its stake in shares of Micron Technology by 0.7% during the 4th quarter. 44 Wealth Management LLC now owns 8,345 shares of the semiconductor manufacturer’s stock valued at $2,382,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology News Roundup

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

• Positive Sentiment: Several recent articles argue Micron could keep outperforming as high-bandwidth memory remains scarce and demand from AI data centers stays extremely strong, with one report saying the shortage may last well beyond 2026. Micron’s 50% Problem: Why Having Too Few Microchips is Making Investors Rich
• Positive Sentiment: Market commentary also highlights Micron as a potential major long-term winner, with pieces suggesting it has solid growth characteristics and momentum-stock appeal, which may be reinforcing investor enthusiasm. Is Micron (MU) a Solid Growth Stock? 3 Reasons to Think “Yes”
• Positive Sentiment: Analysts and media outlets are also floating very bullish valuation targets, including discussion that Micron could join the trillion-dollar market-cap club and even exceed $1,500 per share over the next year if the AI memory boom continues. Is Micron Technology Stock Destined to Join the Trillion-Dollar Club This Year?
• Neutral Sentiment: Other stories were largely educational or broader industry pieces, but they still reinforce the theme that AI infrastructure spending is lifting memory-chip makers like Micron. Micron vs. Sandisk: Which Memory Stock Wins From the AI Boom?

Insider Activity

In related news, 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 value of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the transaction, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 106,000 shares of company stock worth $47,032,460. Insiders own 0.24% of the company’s stock.

Micron Technology Stock Performance

Shares of MU opened at $751.00 on Tuesday. The company has a market capitalization of $846.93 billion, a PE ratio of 35.46 and a beta of 1.91. Micron Technology, Inc. has a one year low of $90.93 and a one year high of $818.67. 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 company’s fifty day moving average price is $518.94 and its 200 day moving average price is $393.05.

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. This is a boost 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 yield of 0.1%. Micron Technology’s payout ratio is 2.83%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Bank of America lifted their price objective on shares of Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Melius Research assumed coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a “buy” rating and a $700.00 price objective for the company. Wells Fargo & Company lifted their price objective on shares of Micron Technology from $470.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Five investment 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, Micron Technology presently has a consensus rating of “Buy” and a consensus target price of $518.47.

Micron Technology 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.