ABN AMRO Bank N.V. Acquires 50,733 Shares of Micron Technology, Inc. $MU

Key Points

• ABN AMRO Bank N.V. increased its Micron Technology stake by 625.7% in the fourth quarter, buying 50,733 additional shares and bringing its total holding to 58,841 shares worth about $16.9 million.
• Micron’s stock has been surging, recently opening near its 52-week high with a market cap of $841.66 billion, while analysts remain broadly bullish with a consensus Buy rating and an average price target of $478.24.
• The company also raised its quarterly dividend to $0.15 per share from $0.12, though insider activity showed recent share sales by both the CFO and CEO.

ABN AMRO Bank N.V. lifted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 625.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,841 shares of the semiconductor manufacturer's stock after purchasing an additional 50,733 shares during the period. ABN AMRO Bank N.V.'s holdings in Micron Technology were worth $16,907,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. AQR Capital Management LLC boosted its position in shares of Micron Technology by 411.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer's stock valued at $606,873,000 after purchasing an additional 2,918,535 shares in the last quarter. Vanguard Group Inc. raised its stake in Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock worth $30,427,016,000 after buying an additional 1,954,644 shares during the period. California Public Employees Retirement System raised its stake in Micron Technology by 70.2% during the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer's stock worth $505,942,000 after buying an additional 1,246,773 shares during the period. Voloridge Investment Management LLC raised its stake in Micron Technology by 1,064.3% during the 3rd quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer's stock worth $218,264,000 after buying an additional 1,192,433 shares during the period. Finally, Wellington Management Group LLP raised its stake in Micron Technology by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock worth $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.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $746.33 on Monday. The company has a market cap of $841.66 billion, a PE ratio of 35.24 and a beta of 1.91. Micron Technology, Inc. has a 52 week low of $84.68 and a 52 week high of $747.21. The business has a 50 day moving average price of $435.84 and a 200-day moving average price of $348.07. 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 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. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a boost from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology's dividend payout ratio (DPR) is currently 2.83%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on MU shares. JPMorgan Chase & Co. upped their price target on Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. Citigroup dropped their price target on Micron Technology from $510.00 to $425.00 and set a "buy" rating on the stock in a research note on Tuesday, March 31st. HSBC upped their price target on Micron Technology from $350.00 to $500.00 and gave the stock a "buy" rating in a research note on Friday, January 23rd. Sanford C. Bernstein upped their price target on Micron Technology from $330.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 18th. Finally, William Blair started coverage on Micron Technology in a research note on Thursday, January 22nd. They set an "outperform" rating on the stock. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $478.24.

Key Micron Technology News

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What's Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Insider Transactions at Micron Technology

In other news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the sale, the chief executive officer directly owned 424,503 shares of the company's stock, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 104,000 shares of company stock valued at $45,458,400 over the last ninety days. 0.24% of the stock is currently owned by insiders.

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.

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