Employees Retirement System of Texas Buys New Shares in Micron Technology, Inc. $MU

Key Points

• Employees Retirement System of Texas opened a new position in Micron Technology during the fourth quarter, buying 13,200 shares valued at about $3.77 million.
• Wall Street sentiment remains upbeat: Micron has a Buy consensus rating, with analysts lifting price targets and an average target of $566.47 across coverage.
• Micron continues to benefit from strong AI-driven memory demand, after reporting better-than-expected earnings and revenue and raising its quarterly dividend to $0.15 per share.

Employees Retirement System of Texas bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,200 shares of the semiconductor manufacturer's stock, valued at approximately $3,767,000.

Several other hedge funds also recently added to or reduced their stakes in MU. Brighton Jones LLC boosted its holdings in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares during the last quarter. Sivia Capital Partners LLC boosted its holdings in Micron Technology by 21.7% in the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock valued at $435,000 after purchasing an additional 628 shares during the last quarter. United Bank purchased a new stake in Micron Technology in the second quarter valued at $236,000. Schnieders Capital Management LLC. boosted its holdings in Micron Technology by 67.9% in the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer's stock valued at $2,093,000 after purchasing an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in Micron Technology by 5.6% in the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock valued at $49,987,000 after purchasing an additional 21,619 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on MU shares. TD Cowen upped their price target on shares of Micron Technology from $550.00 to $660.00 and gave the company a "buy" rating in a report on Tuesday, April 28th. Wedbush upped their price target on shares of Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a report on Friday, March 13th. The Goldman Sachs Group upped their price target on shares of Micron Technology from $360.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, March 19th. Stifel Nicolaus upped their price target on shares of Micron Technology from $360.00 to $550.00 and gave the company a "buy" rating in a report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Micron Technology in a report on Tuesday, May 12th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Buy" and an average price target of $566.47.

Insider Activity

In related news, EVP Sumit Sadana sold 24,000 shares of the firm's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president directly 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 filing with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction 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 ownership of the stock. 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 90 days, insiders sold 106,000 shares of company stock valued at $47,032,460. Insiders own 0.24% of the company's stock.

Trending Headlines about Micron Technology

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

• Positive Sentiment: UBS and Barclays raised their Micron price targets, with UBS setting a Street-high target of $1,625, fueling fresh buying. Benzinga report on UBS price target hike
• Positive Sentiment: Investors are betting that AI-driven shortages in DRAM and HBM memory will keep pricing power strong, supporting Micron’s earnings and margins. Reuters article on Micron joining the $1 trillion club
• Positive Sentiment: Micron’s latest earnings and guidance were extremely strong, with revenue up sharply year over year and management pointing to even higher fiscal Q3 revenue and margins. Seeking Alpha article on Micron’s AI bottleneck trade
• Positive Sentiment: The company announced its fiscal third-quarter earnings report will be released on June 24, keeping attention on another potential catalyst. Micron earnings date announcement
• Neutral Sentiment: Micron has crossed the $1 trillion market-cap milestone, a major headline that underscores the scale of the rally but also raises valuation questions. Forbes article on Micron passing $1 trillion
• Neutral Sentiment: Broader tech and chip stocks are also benefiting from the AI trade, helping support Micron’s move even as the wider market remains mixed. MarketWatch article on memory-chip rally
• Negative Sentiment: Some commentators warn the stock may be getting extended after its huge run, arguing that Micron is now priced for perfection and could be vulnerable if sentiment cools. 24/7 Wall St. cautionary article

Micron Technology Trading Up 3.6%

MU stock opened at $928.41 on Thursday. The company's 50-day simple moving average is $538.07 and its 200-day simple moving average is $402.54. 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 52-week low of $92.22 and a 52-week high of $956.16. The firm has a market cap of $1.05 trillion, a P/E ratio of 43.83 and a beta of 1.91.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same period in the prior year, the company posted $1.56 EPS. The company's revenue for the quarter was up 196 on a year-over-year basis. As a group, equities analysts forecast that Micron Technology, Inc. will post 57.82 EPS for the current fiscal year.

Micron Technology Increases Dividend

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