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

Key Points

• AI Squared Management Ltd opened a new position in Micron Technology, buying 5,600 shares worth about $1.6 million in the fourth quarter. The stake represents roughly 1.9% of the fund’s holdings.
• Micron posted strong quarterly results, reporting EPS of $12.20 versus the $9.19 consensus and revenue of $23.86 billion, well above estimates. The company also raised its quarterly dividend to $0.15 from $0.12.
• Wall Street remains bullish on Micron amid AI-memory demand, with several analysts raising price targets and maintaining Buy/Outperform ratings. Recent commentary also highlights Micron’s role as a beneficiary of AI spending and its long-term expansion plans, including the New York semiconductor project.

AI Squared Management Ltd bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,600 shares of the semiconductor manufacturer's stock, valued at approximately $1,598,000. Micron Technology makes up about 1.9% of AI Squared Management Ltd's holdings, making the stock its 17th biggest holding.

A number of other hedge funds have also added to or reduced their stakes in MU. Manning & Napier Advisors LLC increased its stake in Micron Technology by 2.4% in the 4th quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer's stock worth $301,000 after acquiring an additional 24 shares during the last quarter. Round Rock Advisors LLC increased its stake in Micron Technology by 0.6% in the 4th quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer's stock worth $1,237,000 after acquiring an additional 25 shares during the last quarter. Arlington Trust Co LLC boosted its position in shares of Micron Technology by 26.3% during the 4th quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer's stock valued at $34,000 after acquiring an additional 25 shares during the last quarter. Manuka Financial LLC boosted its position in shares of Micron Technology by 2.3% during the 4th quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer's stock valued at $355,000 after acquiring an additional 28 shares during the last quarter. Finally, Valued Wealth Advisors LLC boosted its position in shares of Micron Technology by 20.9% during the 4th quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer's stock valued at $48,000 after acquiring an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $995.87 on Friday. The business has a 50 day moving average of $665.31 and a 200 day moving average of $459.87. The company has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 47.02 and a beta of 2.16. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,089.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping analysts' consensus estimates of $9.19 by $3.01. The company had revenue of $23.86 billion during 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%.Micron Technology's quarterly revenue was up 196 compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.56 EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Monday, March 30th. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's dividend payout ratio is presently 2.83%.

Insider Transactions at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the business's 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 owned 125,737 shares of the company's stock, valued at $43,679,776.43. The trade was a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 146,000 shares of company stock worth $85,486,715. 0.24% of the stock is owned by corporate insiders.

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

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MU. Mizuho lifted their price target on Micron Technology to $800.00 and gave the company an "outperform" rating in a research report on Tuesday, May 19th. Raymond James Financial lifted their price target on Micron Technology from $530.00 to $1,100.00 and gave the company an "outperform" rating in a research report on Monday, June 1st. Barclays lifted their price target on Micron Technology from $450.00 to $675.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Stifel Nicolaus lifted their price target on Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Micron Technology in a research report on Tuesday, May 12th. Five investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $737.63.

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.

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