Chase Investment Counsel Corp Purchases 5,499 Shares of Micron Technology, Inc. $MU

Key Points

• Chase Investment Counsel Corp boosted its Micron Technology stake by 77.2% in the fourth quarter, buying 5,499 additional shares and bringing its total holdings to 12,620 shares worth about $3.6 million.
• Institutional ownership remains very high, with 80.84% of Micron shares held by institutions, and several other funds also added to or initiated positions in the semiconductor maker.
• Wall Street sentiment is constructive: analysts have raised price targets on Micron, citing strong AI-driven memory demand and tight supply for DRAM, HBM, and SSDs, though the stock may still face volatility after its sharp rally.

Chase Investment Counsel Corp increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 77.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,620 shares of the semiconductor manufacturer's stock after buying an additional 5,499 shares during the quarter. Chase Investment Counsel Corp's holdings in Micron Technology were worth $3,601,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of MU. iA Global Asset Management Inc. increased its holdings in Micron Technology by 18.7% in the third quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer's stock worth $24,578,000 after purchasing an additional 23,117 shares in the last quarter. Generation Capital Management LLC bought a new stake in Micron Technology in the third quarter worth approximately $238,000. Wealthfront Advisers LLC increased its holdings in Micron Technology by 9.8% in the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock worth $15,962,000 after purchasing an additional 8,489 shares in the last quarter. Westpac Banking Corp increased its holdings in Micron Technology by 251.0% in the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after purchasing an additional 16,509 shares in the last quarter. Finally, Avanda Investment Management Pte. Ltd. bought a new stake in Micron Technology in the third quarter worth approximately $418,000. 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: Analysts raised Micron’s earnings estimates, reinforcing expectations that AI-driven memory demand will keep boosting profits. Micron Technology stock report
• Positive Sentiment: Multiple articles highlight tight memory supply and surging demand for HBM, DRAM and SSDs, which supports Micron’s pricing power. Zacks Investment Ideas feature highlights: Micron, Sandisk and Nvidia
• Positive Sentiment: Micron continues to be viewed as a major beneficiary of the AI infrastructure buildout, with analysts and commentators floating much higher valuation targets. Here's Why Micron Can Reach a $1 Trillion Market Cap This Year
• Neutral Sentiment: Some commentary says Micron’s recent surge has made the stock vulnerable to volatility and profit-taking after the sharp advance. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: Renewed uncertainty around U.S.-China chip policy is pressuring semiconductor stocks and dragging Micron lower in the near term. Why Micron Stock Just Dropped
• Negative Sentiment: A director sold shares this week, which may add a small overhang even though the transaction looks routine. Steven J. Gomo insider sale

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $724.66 on Monday. The stock has a market cap of $817.22 billion, a price-to-earnings ratio of 34.21 and a beta of 1.91. 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, Inc. has a 12-month low of $90.93 and a 12-month high of $818.67. The business's 50 day moving average is $479.09 and its 200 day moving average is $371.73.

Micron Technology Increases Dividend

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

Insiders Place Their Bets

In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 224,021 shares of the company's stock, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the transaction, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 106,000 shares of company stock worth $47,032,460 in the last ninety days. Company insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Barclays boosted their price objective on Micron Technology from $450.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Wells Fargo & Company boosted their price objective on Micron Technology from $470.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Morgan Stanley boosted their price objective on Micron Technology from $350.00 to $450.00 and gave the company an "overweight" rating in a report on Wednesday, February 11th. Needham & Company LLC lifted their target price on Micron Technology from $450.00 to $500.00 and gave the company a "buy" rating in a research report on Thursday, March 19th. Finally, Wedbush lifted their target price on Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, March 13th. Five research 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, the stock has a consensus rating of "Buy" and a consensus price target of $495.63.

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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