Aster Capital Management DIFC Ltd Has $1.06 Million Stock Holdings in Micron Technology, Inc. $MU

Aster Capital Management DIFC Ltd increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 281.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,700 shares of the semiconductor manufacturer’s stock after purchasing an additional 2,730 shares during the period. Aster Capital Management DIFC Ltd’s holdings in Micron Technology were worth $1,056,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MU. Brighton Jones LLC lifted its position 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 worth $532,000 after purchasing an additional 976 shares during the last quarter. Sivia Capital Partners LLC lifted its position 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 worth $435,000 after purchasing an additional 628 shares during the last quarter. United Bank acquired a new position in shares of Micron Technology during the 2nd quarter worth about $236,000. Schnieders Capital Management LLC. lifted its position 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 worth $2,093,000 after purchasing an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. lifted its position 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 worth $49,987,000 after purchasing an additional 21,619 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 37,439 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $371,728,524.32. This represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MU shares. Wells Fargo & Company boosted their price objective on Micron Technology from $550.00 to $1,220.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Wedbush boosted their price target on Micron Technology from $320.00 to $500.00 and gave the company an “outperform” rating in a research note on Friday, March 13th. Summit Insights lowered Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 19th. JPMorgan Chase & Co. boosted their price target on Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Finally, Citigroup boosted their price target on Micron Technology from $425.00 to $840.00 and gave the company a “buy” rating in a research note on Tuesday, May 19th. 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 stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $788.13.

Micron Technology News Summary

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.

Micron Technology Trading Up 10.8%

Shares of MU opened at $1,087.99 on Tuesday. Micron Technology, Inc. has a 12-month low of $103.38 and a 12-month high of $1,097.47. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.23 trillion, a price-to-earnings ratio of 51.37 and a beta of 2.15. The stock’s 50-day moving average price is $692.02 and its 200 day moving average price is $471.28.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $19.97 billion. During the same period in the previous year, the company posted $1.56 earnings per share. The company’s quarterly revenue was up 196 compared to the same quarter last year. As a group, research analysts predict that Micron Technology, Inc. will post 59.23 earnings per share 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. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend 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.