IFM Investors Pty Ltd Raises Stock Position in Micron Technology, Inc. $MU

IFM Investors Pty Ltd increased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 223,760 shares of the semiconductor manufacturer's stock after acquiring an additional 2,650 shares during the quarter. Micron Technology comprises 0.5% of IFM Investors Pty Ltd's holdings, making the stock its 29th biggest position. IFM Investors Pty Ltd's holdings in Micron Technology were worth $63,863,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of MU. Brighton Jones LLC grew 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 worth $532,000 after purchasing an additional 976 shares during the last quarter. Sivia Capital Partners LLC boosted its position in shares of Micron Technology by 21.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock worth $435,000 after purchasing an additional 628 shares in the last quarter. United Bank acquired a new stake in shares of Micron Technology in the 2nd quarter worth $236,000. Schnieders Capital Management LLC. grew its stake in Micron Technology by 67.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer's stock worth $2,093,000 after buying an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. increased its position in Micron Technology by 5.6% during the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock valued at $49,987,000 after buying an additional 21,619 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research analyst reports. Wedbush increased their price target on Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research note on Friday, March 13th. Weiss Ratings reiterated a "buy (b)" rating on shares of Micron Technology in a research note on Tuesday, May 12th. DA Davidson initiated coverage on Micron Technology in a research note on Monday, May 11th. They issued a "buy" rating and a $1,000.00 price target for the company. Erste Group Bank cut Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Finally, Cantor Fitzgerald increased their price target on Micron Technology from $700.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Monday. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $737.63.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $13,488,907.17. The trade was a 10.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 146,000 shares of company stock worth $85,486,715. 0.24% of the stock is owned by company insiders.

Micron Technology Stock Performance

Shares of MU stock opened at $995.87 on Friday. The stock has a market cap of $1.12 trillion, a PE ratio of 47.02 and a beta of 2.16. The business has a 50-day simple moving average of $665.31 and a 200-day simple moving average of $459.87. 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 $103.38 and a 52-week high of $1,089.29.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to analysts' expectations of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company's revenue for the quarter was up 196 on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.56 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 59.23 EPS for the current year.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a $0.15 dividend. This is a boost from Micron Technology's previous quarterly dividend of $0.12. 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%. Micron Technology's payout ratio is presently 2.83%.

Key Micron Technology News

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

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

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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