Income Insurance Ltd Takes Position in Micron Technology, Inc. $MU

Key Points

• Income Insurance Ltd initiated a new position in Micron Technology in the fourth quarter, buying 3,441 shares worth about $982,000. The holding now represents 0.6% of the fund’s portfolio and is its 29th largest position.
• Micron shares have surged to a fresh 52-week high, with the stock recently opening around $746.33. The rally is being driven by optimism around AI-related memory demand, especially high-bandwidth memory (HBM), and bullish analyst sentiment.
• The company raised its quarterly dividend to $0.15 per share from $0.12, while insiders have also been selling stock in recent months. Analysts remain broadly positive, with a consensus rating of Buy and an average price target of $478.24.

Income Insurance Ltd purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,441 shares of the semiconductor manufacturer's stock, valued at approximately $982,000. Micron Technology accounts for 0.6% of Income Insurance Ltd's portfolio, making the stock its 29th biggest holding.

Other large investors have also made changes to their positions in the company. REAP Financial Group LLC acquired a new stake in shares of Micron Technology during the third quarter valued at approximately $25,000. Elevation Wealth Partners LLC increased its stake in Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after buying an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. increased its stake in Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 96 shares during the period. GHP Investment Advisors Inc. increased its stake in Micron Technology by 91.2% in the 4th quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 52 shares during the period. Finally, Joseph Group Capital Management acquired a new position in Micron Technology in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $746.33 on Friday. Micron Technology, Inc. has a 1 year low of $84.68 and a 1 year high of $747.21. The firm's fifty day simple moving average is $435.84 and its 200 day simple moving average is $348.07. 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 capitalization of $841.66 billion, a PE ratio of 35.24 and a beta of 1.91.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Monday, March 30th. This is a boost from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's dividend payout ratio (DPR) is 2.83%.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction 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 transaction, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the firm's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the transaction, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 104,000 shares of company stock worth $45,458,400. 0.24% of the stock is owned by insiders.

Micron Technology News Summary

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What's Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MU. Melius Research began coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a "buy" rating and a $700.00 price objective on the stock. Wells Fargo & Company upped their price objective on shares of Micron Technology from $470.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Citigroup dropped their price objective on shares of Micron Technology from $510.00 to $425.00 and set a "buy" rating on the stock in a research note on Tuesday, March 31st. Needham & Company LLC increased their price target on shares of Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Finally, Morgan Stanley increased their price target on shares of Micron Technology from $350.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 11th. Five investment 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 company's stock. According to MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $478.24.

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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