Assenagon Asset Management S.A. Buys 2,633,136 Shares of Micron Technology, Inc. $MU

Key Points

• Assenagon Asset Management increased its Micron stake by 1,528.1%, purchasing 2.63 million additional shares to hold 2.81 million shares worth approximately $2.99 billion. Institutional investors and hedge funds collectively own 80.84% of Micron.
• Micron reported quarterly EPS of $33.42, beating estimates by $1.65, while revenue reached $54.23 billion, up 379.1% year over year. Analysts remain broadly bullish, with a “Moderate Buy” consensus rating and an average price target of $1,407.88.
• The company’s AI-driven demand for DRAM and high-bandwidth memory supports its outlook, but investors face risks from potential memory oversupply, industry cyclicality and growing competition from China’s CXMT.

Assenagon Asset Management S.A. boosted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1,528.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,805,455 shares of the semiconductor manufacturer's stock after buying an additional 2,633,136 shares during the quarter. Micron Technology makes up about 2.2% of Assenagon Asset Management S.A.'s holdings, making the stock its 8th biggest position. Assenagon Asset Management S.A. owned about 0.25% of Micron Technology worth $2,988,118,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bullseye Investment Management LLC acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $27,000. Aventus Investment Advisors Inc. bought a new position in shares of Micron Technology during the 3rd quarter worth approximately $30,000. Steph & Co. bought a new position in shares of Micron Technology during the 3rd quarter worth approximately $31,000. Montgomery Financial Services LLC acquired a new stake in Micron Technology in the 2nd quarter valued at $38,000. Finally, JNBA Financial Advisors boosted its stake in Micron Technology by 77.3% in the 2nd quarter. JNBA Financial Advisors now owns 39 shares of the semiconductor manufacturer's stock valued at $45,000 after buying an additional 17 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of MU stock opened at $931.24 on Friday. Micron Technology, Inc. has a 52 week low of $192.40 and a 52 week high of $1,255.00. The stock has a market capitalization of $1.05 trillion, a PE ratio of 12.55, a PEG ratio of 0.16 and a beta of 2.22. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.94 and a current ratio of 3.31. The stock's fifty day moving average is $985.86 and its 200-day moving average is $861.12.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $31.77 by $1.65. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The business had revenue of $54.23 billion during the quarter, compared to analysts' expectations of $51.33 billion. During the same period in the previous year, the business posted $3.03 earnings per share. The firm's revenue for the quarter was up 379.1% compared to the same quarter last year. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Equities research analysts expect that Micron Technology, Inc. will post 177.03 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 14th will be 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 is Wednesday, October 14th. Micron Technology's dividend payout ratio (DPR) is presently 0.81%.

Insider Buying and Selling at Micron Technology

In other news, EVP Sumit Sadana sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total value of $14,014,350.00. Following the completion of the sale, the executive vice president directly owned 191,021 shares of the company's stock, valued at approximately $178,469,010.09. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Scott Allen sold 879 shares of the business's stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $1,000.00, for a total value of $879,000.00. Following the sale, the chief accounting officer owned 34,958 shares of the company's stock, valued at approximately $34,958,000. The trade was a 2.45% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 95,879 shares of company stock worth $90,939,466. Insiders own 0.24% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Erste Group Bank upgraded Micron Technology from a "hold" rating to a "buy" rating in a research report on Thursday, June 25th. Raymond James Financial reissued an "outperform" rating on shares of Micron Technology in a report on Thursday, October 1st. BMO Capital Markets reissued an "outperform" rating on shares of Micron Technology in a report on Thursday, October 1st. Robert W. Baird boosted their target price on shares of Micron Technology from $1,280.00 to $1,520.00 and gave the company an "outperform" rating in a research note on Monday, September 28th. Finally, UBS Group reaffirmed a "buy" rating and issued a $1,625.00 target price (up from $535.00) on shares of Micron Technology in a report on Wednesday, September 23rd. One investment analyst has rated the stock with a Strong Buy rating, forty-one have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $1,407.88.

Micron Technology News Roundup

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

• Positive Sentiment: Micron’s fundamental outlook remains strong. Fiscal 2026 revenue reportedly rose 256% to $133.2 billion, while tight DRAM and HBM supply is supporting significant margin expansion. The company is also accelerating construction of new fabs in Idaho and New York to increase capacity. Prediction: This Is What $2,000 Invested in Micron Stock Today Could Be Worth by 2029
• Positive Sentiment: Micron has signed 26 strategic customer agreements with pricing frameworks, helping reduce the traditional memory cycle risk. Its diversified customer base also means no single customer represented at least 10% of fiscal 2026 revenue. Micron's Customer Contracts Just Took the Memory Cycle Off the Table
• Positive Sentiment: Analysts and commentators continue to identify MU as a buy-the-dip opportunity, citing AI-driven revenue growth, expanding margins and a lower valuation than some peers. Erste Group also raised its FY2027 earnings estimate, while Rosenblatt reaffirmed a Buy rating.
• Positive Sentiment: Elon Musk praised Micron’s approach to future memory pricing, and strong demand for AI infrastructure is expected to support high-value HBM shipments. ASML’s reported order backlog through 2030 also reinforces the long-term equipment and HBM demand outlook. ASML Just Delivered Excellent News for Micron Stock Investors
• Neutral Sentiment: Micron’s market capitalization is trailing several large companies, including Eli Lilly and Berkshire Hathaway, highlighting both the stock’s substantial rally and the possibility that investors are reassessing its valuation after recent volatility.
• Negative Sentiment: The principal overhang is China’s ChangXin Memory Technologies (CXMT), which is advancing in DDR5, LPDDR5X and server-memory products. Investors fear that Chinese competition could pressure prices and margins, although analysts note CXMT currently appears more competitive in lower-end memory than in Micron’s premium HBM products.
• Negative Sentiment: A broader AI and semiconductor sell-off, concerns about a possible memory oversupply by 2029, higher inflation and potential interest-rate increases have contributed to recent selling. Cathie Wood’s warning that memory-chip cycles remain “vicious” underscores the risk that today’s exceptional profits may not persist.

Micron Technology Company Profile

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, three-dimensional XPoint-related technologies, solid-state drives, and high-bandwidth memory products designed for demanding computing applications.

The company serves customers across the data center, artificial intelligence, networking, automotive, industrial, mobile, consumer electronics, and embedded markets.

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