Genus Capital Management Inc. Invests $885,000 in Micron Technology, Inc. $MU

Key Points

• Genus Capital Management opened a new position in Micron Technology during the fourth quarter, buying 3,100 shares valued at about $885,000.
• Other institutional investors also increased their Micron holdings, and hedge funds and other institutions now own 80.84% of the company’s shares, showing broad professional interest in the stock.
• Wall Street sentiment remains very bullish: multiple analysts raised price targets, with Micron’s average rating at Buy and an average target price of $518.47.

Genus Capital Management Inc. bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 3,100 shares of the semiconductor manufacturer's stock, valued at approximately $885,000.

A number of other institutional investors have also modified their holdings of MU. Generation Capital Management LLC acquired a new position in shares of Micron Technology in the 3rd quarter valued at approximately $238,000. Wealthfront Advisers LLC raised its position in shares of Micron Technology by 9.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock valued at $15,962,000 after purchasing an additional 8,489 shares in the last quarter. Westpac Banking Corp raised its position in shares of Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock valued at $3,863,000 after purchasing an additional 16,509 shares in the last quarter. Avanda Investment Management Pte. Ltd. acquired a new position in shares of Micron Technology in the 3rd quarter valued at approximately $418,000. Finally, Wellington Management Group LLP raised its position in shares of Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock valued at $1,196,427,000 after purchasing an additional 1,188,296 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank Of Canada upped their target price on Micron Technology from $425.00 to $525.00 and gave the company an "outperform" rating in a research report on Monday, March 16th. Sanford C. Bernstein upped their target price on Micron Technology from $330.00 to $510.00 and gave the company an "outperform" rating in a research report on Wednesday, March 18th. JPMorgan Chase & Co. upped their target price on Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Wells Fargo & Company upped their target price on Micron Technology from $470.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Finally, Cantor Fitzgerald upped their target price on Micron Technology from $450.00 to $700.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Micron Technology presently has an average rating of "Buy" and an average price target of $518.47.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Several recent articles argue Micron could keep outperforming as high-bandwidth memory remains scarce and demand from AI data centers stays extremely strong, with one report saying the shortage may last well beyond 2026. Micron’s 50% Problem: Why Having Too Few Microchips is Making Investors Rich
• Positive Sentiment: Market commentary also highlights Micron as a potential major long-term winner, with pieces suggesting it has solid growth characteristics and momentum-stock appeal, which may be reinforcing investor enthusiasm. Is Micron (MU) a Solid Growth Stock? 3 Reasons to Think "Yes"
• Positive Sentiment: Analysts and media outlets are also floating very bullish valuation targets, including discussion that Micron could join the trillion-dollar market-cap club and even exceed $1,500 per share over the next year if the AI memory boom continues. Is Micron Technology Stock Destined to Join the Trillion-Dollar Club This Year?
• Neutral Sentiment: Other stories were largely educational or broader industry pieces, but they still reinforce the theme that AI infrastructure spending is lifting memory-chip makers like Micron. Micron vs. Sandisk: Which Memory Stock Wins From the AI Boom?

Micron Technology Stock Performance

MU stock opened at $751.00 on Tuesday. 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 firm has a market cap of $846.93 billion, a P/E ratio of 35.46 and a beta of 1.91. Micron Technology, Inc. has a 12-month low of $90.93 and a 12-month high of $818.67. The stock's 50 day simple moving average is $518.94 and its 200 day simple moving average is $393.05.

Micron Technology Increases Dividend

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

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares of the company's stock, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 106,000 shares of company stock valued at $47,032,460. 0.24% of the stock is currently owned by insiders.

About Micron Technology

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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