AI Squared Management Ltd Acquires Shares of 5,600 Micron Technology, Inc. $MU

AI Squared Management Ltd acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 4th quarter, Holdings Channel reports. The institutional investor acquired 5,600 shares of the semiconductor manufacturer’s stock, valued at approximately $1,598,000. Micron Technology accounts for about 1.9% of AI Squared Management Ltd’s portfolio, making the stock its 17th largest position.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MU. Heritage Trust Co increased its stake in shares of Micron Technology by 9.7% during the fourth quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock valued at $4,289,000 after buying an additional 1,323 shares during the period. Generation Capital Management LLC purchased a new position in shares of Micron Technology during the third quarter valued at approximately $238,000. Westpac Banking Corp increased its stake in shares of Micron Technology by 251.0% during the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock valued at $3,863,000 after buying an additional 16,509 shares during the period. Avanda Investment Management Pte. Ltd. purchased a new position in shares of Micron Technology during the third quarter valued at approximately $418,000. Finally, Wellington Management Group LLP increased its stake in shares of Micron Technology by 19.9% during the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock valued at $1,196,427,000 after buying an additional 1,188,296 shares during the period. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 37,439 shares of the 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 sale, the chief executive officer directly owned 387,064 shares of the company’s stock, valued at approximately $371,728,524.32. This represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on 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 completion of the sale, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 146,000 shares of company stock valued at $85,486,715. Insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Erste Group Bank cut Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. TD Cowen upped their price target on Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a research note on Tuesday, April 28th. Citigroup upped their price target on Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. Susquehanna upped their price target on Micron Technology from $600.00 to $1,750.00 and gave the stock a “positive” rating in a research note on Friday, May 29th. Finally, DA Davidson initiated coverage on Micron Technology in a research note on Monday, May 11th. They issued a “buy” rating and a $1,000.00 price target on the stock. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $737.63.

Micron Technology News Roundup

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 Price Performance

Shares of MU 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 cap of $1.12 trillion, a price-to-earnings ratio of 47.02 and a beta of 2.16. The business’s fifty day moving average is $665.31 and its 200 day moving average is $459.87. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping 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 period in the prior year, the firm posted $1.56 earnings per share. The company’s quarterly revenue was up 196 on a year-over-year basis. Research analysts expect that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

The business also recently announced 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 an increase from Micron Technology’s previous quarterly dividend of $0.12. 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. Micron Technology’s payout ratio is currently 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.