Meiji Yasuda Asset Management Co Ltd. Acquires 16,200 Shares of Micron Technology, Inc. $MU

Key Points

• Meiji Yasuda Asset Management significantly increased its Micron Technology stake by 231.7% in the fourth quarter, buying 16,200 additional shares and bringing its holdings to 23,192 shares valued at about $6.62 million.
• Micron continues to attract broad institutional investor interest, with 80.84% of shares owned by institutions and several other funds also increasing or initiating positions.
• Analysts remain broadly bullish on MU, with multiple firms raising price targets and the stock carrying a consensus Buy rating; meanwhile, Micron also recently increased its quarterly dividend from $0.12 to $0.15 per share.

Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 231.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,192 shares of the semiconductor manufacturer's stock after buying an additional 16,200 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Micron Technology were worth $6,619,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. High Note Wealth LLC boosted its stake in Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 34 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake in Micron Technology by 295.8% during the fourth 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 last quarter. Steigerwald Gordon & Koch Inc. boosted its stake in Micron Technology by 4,800.0% during the fourth 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 last quarter. Joseph Group Capital Management bought a new position in Micron Technology during the fourth quarter valued at approximately $31,000. Finally, Luken Investment Analytics LLC bought a new position in Micron Technology during the fourth quarter valued at approximately $31,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Price Performance

Shares of MU stock opened at $762.10 on Friday. Micron Technology, Inc. has a 52-week low of $90.93 and a 52-week high of $818.67. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market capitalization of $859.45 billion, a P/E ratio of 35.98 and a beta of 1.91. The stock has a 50 day moving average price of $505.38 and a 200 day moving average price of $385.66.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were given a dividend of $0.15 per share. 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 dividend on an annualized basis and a yield of 0.1%. Micron Technology's dividend payout ratio is presently 2.83%.

Micron Technology News Roundup

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

• Positive Sentiment: Micron shares are rising as the memory-chip rally reawakens, with Samsung’s last-minute labor deal and strike fears helping fuel expectations for tighter supply and higher pricing across the sector. Micron and SK Hynix Stocks Rise. The Memory-Chip Boom Is Back.
• Positive Sentiment: Micron is also benefiting from a wave of bullish AI-memory coverage, with investors focusing on structural demand from data centers, record revenue guidance, and strong gross-margin potential. Micron's AI Memory Dominance Is Just Beginning
• Positive Sentiment: Several analysts are arguing Micron’s valuation still looks attractive relative to other AI chip names, reinforcing the case that the stock can keep climbing if memory demand stays hot. MU vs. AMD: Which AI Semiconductor Stock Is the Better Buy?
• Neutral Sentiment: Micron Biomedical announced the grand opening of a commercial-scale manufacturing site in Georgia, a long-term operational milestone that is not likely to move MU shares much in the short term. Micron Biomedical Celebrates the Grand Opening of Its Commercial-Scale Manufacturing Site in Georgia
• Negative Sentiment: A contrarian take notes that the easy money in this memory cycle may already be behind investors, suggesting upside could become harder to realize if pricing or demand cools. Micron: The Easy Money In This Cycle Is Behind Us

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MU shares. Mizuho increased their price target on Micron Technology to $800.00 and gave the company an "outperform" rating in a research note on Tuesday. Weiss Ratings reissued a "buy (b)" rating on shares of Micron Technology in a research note on Tuesday, May 12th. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price target on shares of Micron Technology in a research note on Monday, March 16th. William Blair initiated coverage on Micron Technology in a research note on Thursday, January 22nd. They set an "outperform" rating for the company. Finally, Royal Bank Of Canada upped their price objective on Micron Technology from $425.00 to $525.00 and gave the company an "outperform" rating in a research report on Monday, March 16th. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $518.47.

Insider Transactions at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction 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 completion of the sale, the chief executive officer directly owned 424,503 shares of the company's stock, valued at $227,643,978.78. The trade was a 8.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 106,000 shares of company stock valued at $47,032,460. Company insiders own 0.24% of the company's stock.

Micron Technology 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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