Asahi Life Asset Management CO. LTD. Buys Shares of 3,585 Micron Technology, Inc. $MU

Key Points

• Asahi Life Asset Management disclosed a new fourth-quarter stake in Micron Technology, buying 3,585 shares valued at about $1.0 million.
• Micron is drawing upbeat attention from analysts and investors amid the AI memory boom, with the stock recently hitting a fresh 52-week high and several firms raising price targets.
• Insider selling has continued, including recent share sales by EVP Sumit Sadana and April S. Arnzen, while institutional ownership remains high at 80.84%.

Asahi Life Asset Management CO. LTD. bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,585 shares of the semiconductor manufacturer's stock, valued at approximately $1,023,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. REAP Financial Group LLC bought a new stake in shares of Micron Technology during the third quarter valued at about $25,000. Elevation Wealth Partners LLC raised its stake in shares of Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after purchasing an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its stake in shares of Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 52 shares in the last quarter. Finally, Joseph Group Capital Management bought a new stake in shares of Micron Technology during the fourth quarter valued at about $31,000. 80.84% of the stock is currently owned by institutional investors.

Trending Headlines about Micron Technology

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on MU. UBS Group lifted their price objective on shares of Micron Technology from $510.00 to $535.00 and gave the company a "buy" rating in a research note on Wednesday, April 8th. Melius Research began coverage on shares of Micron Technology in a research note on Monday, April 27th. They set a "buy" rating and a $700.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Micron Technology from $500.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, March 19th. Stifel Nicolaus lifted their price objective on shares of Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada lifted their price objective on shares of Micron Technology from $425.00 to $525.00 and gave the company an "outperform" rating in a research note on Monday, March 16th. Five research 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 stock. Based on data from MarketBeat, Micron Technology has an average rating of "Buy" and a consensus target price of $478.24.

Insider Buying and Selling

In related news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction dated 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 approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction dated 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 transaction, the executive vice president directly owned 125,737 shares in the company, valued at $43,679,776.43. This represents 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. In the last quarter, insiders have sold 104,000 shares of company stock valued at $45,458,400. 0.24% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $746.33 on Monday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $435.84 and its two-hundred day moving average price is $348.07. Micron Technology, Inc. has a 52 week low of $84.68 and a 52 week high of $747.21. The stock has a market cap of $841.66 billion, a PE ratio of 35.24 and a beta of 1.91.

Micron Technology Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's dividend payout ratio (DPR) is 2.83%.

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.

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