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

Aster Capital Management DIFC Ltd lifted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 281.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,700 shares of the semiconductor manufacturer’s stock after acquiring an additional 2,730 shares during the quarter. 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 institutional investors and hedge funds have also modified their holdings of MU. Norges Bank acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $6,433,456,000. AQR Capital Management LLC boosted its holdings in shares of Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock worth $606,873,000 after acquiring an additional 2,918,535 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of Micron Technology by 1,340.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer’s stock worth $805,148,000 after acquiring an additional 2,625,169 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after acquiring an additional 1,954,644 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Micron Technology by 151.0% in the 4th quarter. Renaissance Technologies LLC now owns 3,011,143 shares of the semiconductor manufacturer’s stock worth $859,411,000 after acquiring an additional 1,811,607 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Key Micron Technology News

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 Stock Performance

MU stock opened at $1,087.99 on Tuesday. The business’s fifty day moving average is $692.02 and its 200-day moving average is $471.28. 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 company has a market cap of $1.23 trillion, a P/E ratio of 51.37 and a beta of 2.15. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,097.47.

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

Micron Technology Increases Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

Wall Street Analyst Weigh In

A number of brokerages have commented on MU. Morgan Stanley increased their price objective on Micron Technology from $520.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, June 3rd. Erste Group Bank lowered Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, April 2nd. KeyCorp increased their price objective on Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Mizuho increased their price objective on Micron Technology to $800.00 and gave the company an “outperform” rating in a research report on Tuesday, May 19th. Finally, Citigroup increased their price objective on Micron Technology from $425.00 to $840.00 and gave the company a “buy” rating in a research report on Tuesday, May 19th. Five equities research 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 company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $788.13.

Insider Buying and Selling

In other news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the transaction, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 146,000 shares of company stock worth $85,486,715. Company 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.