Fulton Bank N.A. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 79.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,183 shares of the semiconductor manufacturer’s stock after buying an additional 7,147 shares during the period. Fulton Bank N.A.’s holdings in Micron Technology were worth $4,619,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of MU. Orleans Capital Management Corp LA acquired a new position in Micron Technology in the 2nd quarter worth about $256,000. iA Global Asset Management Inc. boosted its stake in shares of Micron Technology by 18.7% during the third quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock valued at $24,578,000 after purchasing an additional 23,117 shares in the last quarter. Cary Street Partners Financial LLC boosted its stake in shares of Micron Technology by 25.0% during the second quarter. Cary Street Partners Financial LLC now owns 26,132 shares of the semiconductor manufacturer’s stock valued at $3,221,000 after purchasing an additional 5,233 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Micron Technology by 9.8% during the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock worth $15,962,000 after purchasing an additional 8,489 shares during the last quarter. Finally, Westpac Banking Corp grew its holdings 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 worth $3,863,000 after purchasing an additional 16,509 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on MU. Citigroup raised their price objective on shares of Micron Technology from $430.00 to $510.00 and gave the company a “buy” rating in a report on Thursday. Weiss Ratings reissued a “buy (b-)” rating on shares of Micron Technology in a report on Thursday, January 29th. KeyCorp upped their price target on shares of Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday. Phillip Securities upgraded shares of Micron Technology to a “strong-buy” rating in a report on Monday, February 2nd. Finally, Sanford C. Bernstein boosted their price objective on shares of Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 18th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $453.55.
Insiders Place Their Bets
In other Micron Technology news, Director Teyin M. Liu bought 7,820 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The shares were bought at an average price of $337.50 per share, for a total transaction of $2,639,250.00. Following the transaction, the director directly owned 25,910 shares in the company, valued at approximately $8,744,625. This trade represents a 43.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Manish H. Bhatia sold 26,623 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The stock was sold at an average price of $391.04, for a total value of $10,410,657.92. Following the sale, the executive vice president directly owned 323,486 shares of the company’s stock, valued at $126,495,965.44. This represents a 7.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have bought 23,200 shares of company stock valued at $7,821,723 and have sold 53,623 shares valued at $21,832,908. Company insiders own 0.24% of the company’s stock.
Micron Technology Stock Down 4.8%
Shares of NASDAQ MU opened at $422.81 on Monday. The company’s 50 day moving average price is $402.64 and its 200-day moving average price is $285.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $471.34. The company has a market capitalization of $476.81 billion, a P/E ratio of 19.96 and a beta of 1.50.
Micron Technology (NASDAQ:MU – Get Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping the consensus estimate of $8.50 by $3.70. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $18.90 billion. During the same period in the prior year, the company posted $1.56 earnings per share. Micron Technology’s revenue for the quarter was up 196.3% compared to the same quarter last year. Equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.
Micron Technology Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Monday, March 30th. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is 2.17%.
Key Stories Impacting Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Q2 blowout: Micron reported huge revenue and EPS beats and raised forward guidance, reinforcing AI-driven DRAM/HBM demand and pricing power. Micron’s Mic‑Drop Quarter: AI Memory Demand Supercharged Earnings
- Positive Sentiment: Wall Street lifts price targets and reiterates buys (multiple firms raised PTs substantially), signaling analyst conviction in a sustained AI memory cycle. Bank of America revamps Micron stock price target post earnings
- Positive Sentiment: Supply tightness/HBM momentum: Micron has started volume shipments of HBM4 and analysts highlight persistent HBM shortages that support pricing and margins. Micron Announces Starting Volume Shipment of HBM4 36GB
- Neutral Sentiment: Technical/volatility notes: commentators flag a fast breakout then pullback — some view current action as a potential re-entry/buy-the-dip opportunity while others warn of resistance and a possible bull trap. Is This A Bull Trap For Micron Technology?
- Negative Sentiment: Heavy capex warning: management plans “meaningfully” higher capital spending to expand capacity — investors fear margin pressure and near‑term cash intensity despite long‑term payoff. Micron shares slip as hefty spending plans eclipse strong AI‑fueled earnings
- Negative Sentiment: Sell‑the‑news & downgrade noise: despite stellar results, the stock has seen pullbacks driven by profit‑taking, an analyst downgrade or cautionary notes about sustainability of the cycle. Why Micron (MU) Stock Is Down Today
- Negative Sentiment: Macro/geopolitical risk: recent Middle East energy infrastructure attacks are cited as an additional market headwind that contributed to post‑earnings weakness. Why attack on Qatar’s energy facility is bearish for Micron
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.
Further Reading
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