Glenview Trust Co Buys Shares of 1,740 Micron Technology, Inc. $MU

Key Points

• Glenview Trust Co opened a new position in Micron Technology during the fourth quarter, buying 1,740 shares valued at about $497,000.
• Micron continues to attract heavy institutional interest, with several large investors increasing stakes and 80.84% of the stock now held by institutions and hedge funds.
• The stock has surged on strong AI-driven demand and analyst optimism, with Micron recently posting better-than-expected earnings and seeing multiple price-target hikes, helping push its market cap to about $1.01 trillion.

Glenview Trust Co bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 1,740 shares of the semiconductor manufacturer's stock, valued at approximately $497,000.

Other large investors also recently added to or reduced their stakes in the company. Generation Capital Management LLC purchased a new position in shares of Micron Technology during the 3rd quarter valued at $238,000. Wealthfront Advisers LLC grew its holdings in shares of Micron Technology by 9.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock valued at $15,962,000 after acquiring an additional 8,489 shares in the last quarter. Westpac Banking Corp grew its holdings in shares of Micron Technology by 251.0% during the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock valued at $3,863,000 after acquiring an additional 16,509 shares in the last quarter. Avanda Investment Management Pte. Ltd. purchased a new position in shares of Micron Technology during the 3rd quarter valued at $418,000. Finally, Wellington Management Group LLP grew its holdings in shares of Micron Technology by 19.9% during 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 acquiring an additional 1,188,296 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

More Micron Technology News

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

• Positive Sentiment: UBS more than tripled its price target on Micron, calling out stronger AI demand and long-term supply deals, which sparked a major re-rating of the stock. Micron closes in on $1 trillion market value as UBS triples share price target
• Positive Sentiment: Analysts say the AI memory boom is still in its early stages, with Micron benefiting from structural shortages and multi-year demand tied to data center buildouts. Micron Stock (MU): This Top Analyst Says the AI Memory Boom Is Just Getting Started
• Positive Sentiment: Micron’s move above a $1 trillion valuation and its strong momentum are drawing more institutional attention and boosting sentiment across the semiconductor sector. Micron hits $1 trillion market cap for the first time as stock surges 18%
• Neutral Sentiment: Commentary around President Trump’s praise of Micron added to the buzz, but most articles suggest the real catalyst is the UBS upgrade and AI-driven fundamentals rather than politics. Donald Trump said 'Micron's great'—3 days later MU stock crosses 1 trillion in market cap
• Neutral Sentiment: Micron’s Virginia DRAM manufacturing launch and expanded U.S. production support the long-term domestic supply story, but this appears secondary to the current rally. Micron Expands U.S. Memory Production With Virginia DRAM Launch

Analyst Ratings Changes

MU has been the topic of several research analyst reports. The Goldman Sachs Group boosted 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. Phillip Securities upgraded shares of Micron Technology to a "strong-buy" rating in a report on Monday, February 2nd. Susquehanna upped their price objective on shares of Micron Technology from $345.00 to $525.00 and gave the stock a "positive" rating in a report on Monday, March 9th. JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of Micron Technology from $500.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $554.80.

Micron Technology Trading Up 19.3%

Shares of NASDAQ:MU opened at $895.88 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 1 year low of $92.22 and a 1 year high of $916.80. The firm has a fifty day moving average price of $528.34 and a 200 day moving average price of $397.68. The stock has a market capitalization of $1.01 trillion, a PE ratio of 42.30 and a beta of 1.91.

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

Micron Technology Increases Dividend

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

Insider Activity

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the sale, the chief executive officer owned 424,503 shares of the company's stock, valued at $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 106,000 shares of company stock valued at $47,032,460 over the last three months. 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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