Micron Technology, Inc. $MU Holdings Boosted by Allstate Corp

Key Points

• Allstate Corp more than doubled its Micron stake in the fourth quarter, boosting holdings by 109.9% to 85,407 shares worth about $24.4 million.
• Institutional ownership in Micron remains very high at 80.84%, and several other smaller investors also increased their positions recently.
• Analysts are increasingly bullish on Micron, with multiple firms raising price targets and the consensus rating sitting at Buy with an average target of $518.47.

Allstate Corp boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 109.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,407 shares of the semiconductor manufacturer's stock after acquiring an additional 44,721 shares during the period. Allstate Corp's holdings in Micron Technology were worth $24,376,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MU. REAP Financial Group LLC bought a new stake in shares of Micron Technology during the third quarter valued at approximately $25,000. High Note Wealth LLC raised its holdings in shares of 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 raised its holdings in shares of 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. raised its holdings in shares of 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. Finally, GHP Investment Advisors Inc. raised its holdings in shares of Micron Technology by 91.2% during the fourth 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 last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

NASDAQ MU opened at $751.00 on Tuesday. Micron Technology, Inc. has a 12 month low of $90.93 and a 12 month high of $818.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market capitalization of $846.93 billion, a PE ratio of 35.46 and a beta of 1.91. The company's 50 day simple moving average is $518.94 and its 200 day simple moving average is $393.05.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were given a $0.15 dividend. This represents a $0.60 annualized dividend 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 (DPR) is presently 2.83%.

Analyst Ratings Changes

A number of research firms have recently weighed in on MU. JPMorgan Chase & Co. lifted their price target on Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Rosenblatt Securities reaffirmed a "buy" rating and set a $500.00 price target on shares of Micron Technology in a report on Monday, March 16th. UBS Group lifted their price target on Micron Technology from $510.00 to $535.00 and gave the company a "buy" rating in a report on Wednesday, April 8th. Citigroup raised their price objective on shares of Micron Technology from $425.00 to $840.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Micron Technology in a research note on Tuesday, May 12th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $518.47.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the transaction, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology 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 completion of the transaction, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 106,000 shares of company stock worth $47,032,460. 0.24% of the stock is owned by corporate insiders.

Micron Technology News Summary

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 Company 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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