Alberta Investment Management Corp Buys Shares of 100,000 Micron Technology, Inc. $MU

Alberta Investment Management Corp purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 100,000 shares of the semiconductor manufacturer's stock, valued at approximately $115,429,000. Micron Technology accounts for 0.6% of Alberta Investment Management Corp's holdings, making the stock its 20th largest position.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Elite Life Management LLC grew its position in Micron Technology by 32.0% during the second quarter. Elite Life Management LLC now owns 483 shares of the semiconductor manufacturer's stock worth $558,000 after buying an additional 117 shares in the last quarter. SCS Capital Management LLC increased its stake in Micron Technology by 4.5% in the 2nd quarter. SCS Capital Management LLC now owns 936 shares of the semiconductor manufacturer's stock worth $1,080,000 after acquiring an additional 40 shares during the last quarter. Stonehaven Wealth & Tax Solutions LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at about $441,000. Silverlake Wealth Management LLC raised its holdings in shares of Micron Technology by 2.6% in the 2nd quarter. Silverlake Wealth Management LLC now owns 2,191 shares of the semiconductor manufacturer's stock valued at $2,529,000 after acquiring an additional 56 shares in the last quarter. Finally, Concentrum Wealth Management boosted its position in shares of Micron Technology by 6.1% during the 2nd quarter. Concentrum Wealth Management now owns 10,093 shares of the semiconductor manufacturer's stock valued at $11,651,000 after acquiring an additional 580 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MU shares. Sanford C. Bernstein set a $1,300.00 price objective on Micron Technology in a report on Monday, June 22nd. Wells Fargo & Company lifted their target price on shares of Micron Technology from $1,220.00 to $1,525.00 and gave the company an "overweight" rating in a research report on Thursday, June 25th. Erste Group Bank raised shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Thursday, June 25th. Morgan Stanley increased their price target on shares of Micron Technology from $1,050.00 to $1,200.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Micron Technology from $1,500.00 to $1,550.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $1,295.63.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Analyst optimism is supporting the rebound. BMO initiated coverage with an “outperform” rating and a $1,300 price target, while Mizuho maintained its “outperform” rating and set a $1,300 target despite lowering its estimate from $1,375. Finance giant sets aggressive Micron stock target after earnings
• Positive Sentiment: Investor commentary remains bullish on Micron’s long-term growth. The company’s latest quarter generated approximately $41.5 billion in revenue, up more than 345% year over year, with earnings substantially exceeding expectations. Analysts and commentators also point to accelerating revenue and profit growth and the possibility of the stock reaching $1,300 by year-end. Prediction: Micron Stock Will Reach $1,300 by the End of 2026
• Positive Sentiment: Reports that DRAM and high-bandwidth memory prices could rise sharply this quarter reinforce Micron’s pricing power. Demand from AI data centers continues to exceed supply, while management expects the memory industry to expand over the long run. Memory Shortage Deepens to Worst Levels Since 2017
• Neutral Sentiment: Micron promoted Manish Bhatia to president and chief operating officer and Scott DeBoer to president and chief technology and products officer. The changes are intended to improve execution and innovation as AI-related memory demand grows, but their financial impact will take time to assess. Micron Announces Leadership Appointments
• Neutral Sentiment: Micron will report fiscal fourth-quarter results on September 30. The release is a potential catalyst because investors will look for evidence that AI demand, pricing and margins remain strong. Micron to Report Fiscal Fourth Quarter Results
• Negative Sentiment: Risks include competition from China’s YMTC, the possibility that long-term contracts limit Micron’s ability to capture rising spot prices, and the memory industry’s historically cyclical downturns. CEO Sanjay Mehrotra’s sale of 40,000 shares for approximately $38.8 million—and continued insider selling without reported purchases—may also weigh on sentiment. Sanjay Mehrotra Sells 40,000 Shares

Micron Technology Price Performance

Shares of Micron Technology stock opened at $938.40 on Thursday. Micron Technology, Inc. has a 52-week low of $114.25 and a 52-week high of $1,255.00. The stock has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 21.25 and a beta of 2.18. The company has a fifty day moving average of $959.62 and a 200-day moving average of $709.37. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 EPS for the quarter, topping analysts' consensus estimates of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The company had revenue of $41.46 billion for the quarter, compared to analysts' expectations of $35.91 billion. During the same quarter last year, the company earned $1.91 EPS. The firm's revenue was up 345.8% compared to the same quarter last year. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Equities research analysts expect that Micron Technology, Inc. will post 72.93 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, July 6th. Micron Technology's dividend payout ratio is 1.36%.

Insider Activity

In other news, Director Lynn A. Dugle sold 1,300 shares of the firm's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the transaction, the director owned 17,728 shares in the company, valued at approximately $20,394,823.04. This trade represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $1,083.94, for a total transaction of $43,357,600.00. Following the completion of the transaction, the executive vice president directly owned 85,737 shares in the company, valued at approximately $92,933,763.78. The trade was a 31.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 217,179 shares of company stock valued at $220,582,211. Corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source