Micron Technology, Inc. $MU Position Raised by Central Asset Investments & Management Holdings HK Ltd

Key Points

• Central Asset Investments & Management boosted its Micron stake by 596.4% in the fourth quarter, making MU its second-largest holding and worth about $23.9 million.
• Micron shares have surged sharply, with the stock recently opening at $803.63 and reflecting strong market interest amid a broader rally in semiconductor and AI-related names.
• Wall Street remains bullish: several firms recently raised price targets, and the analyst consensus on Micron is a Buy with a target price of about $495.63.

Central Asset Investments & Management Holdings HK Ltd raised its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 596.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,741 shares of the semiconductor manufacturer's stock after purchasing an additional 71,717 shares during the period. Micron Technology accounts for about 15.5% of Central Asset Investments & Management Holdings HK Ltd's portfolio, making the stock its 2nd biggest position. Central Asset Investments & Management Holdings HK Ltd's holdings in Micron Technology were worth $23,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of 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 buying an additional 976 shares during the period. Sivia Capital Partners LLC raised its holdings in shares of Micron Technology by 21.7% in the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock worth $435,000 after buying an additional 628 shares during the period. United Bank purchased a new stake in shares of Micron Technology in the second quarter worth approximately $236,000. Schnieders Capital Management LLC. raised its holdings in shares of Micron Technology by 67.9% in the second 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 period. Finally, Sei Investments Co. raised its holdings in shares of Micron Technology by 5.6% in the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock worth $49,987,000 after buying an additional 21,619 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Up 4.8%

Shares of NASDAQ:MU opened at $803.63 on Thursday. Micron Technology, Inc. has a 52-week low of $90.93 and a 52-week high of $818.67. The stock has a market cap of $906.28 billion, a P/E ratio of 37.94 and a beta of 1.91. The business's 50 day moving average is $464.69 and its 200 day moving average is $364.25. 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 Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.1%. This is an increase from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology's payout ratio is currently 2.83%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MU shares. JPMorgan Chase & Co. increased their price target on Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Deutsche Bank Aktiengesellschaft increased their price target on Micron Technology from $500.00 to $550.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Barclays increased their price target on Micron Technology from $450.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Bank of America increased their price target on Micron Technology from $400.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Finally, Stifel Nicolaus increased their price target on Micron Technology from $360.00 to $550.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $495.63.

Key Micron Technology News

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

• Positive Sentiment: Analysts and market commentators say Micron is benefiting from surging demand for HBM, DRAM and AI infrastructure memory, with supply still tight. BofA Sees More Room for Micron's AI Rally
• Positive Sentiment: Micron is being highlighted as a direct AI winner, with articles arguing the company is still early in the AI cycle rather than near the top of it. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI 'Parking Lot'— It Is 'Not Late' To Get In
• Positive Sentiment: Fresh product momentum also supports the bull case, including sampling of a faster 256GB DDR5 server module for AI and data-center workloads. Micron Redefines AI Performance With Sampling of 256GB DDR5 Server Module
• Neutral Sentiment: Some investors are also watching Micron’s sharp run and warning that the stock may be extended after a huge rally, which could mean near-term volatility even if the long-term story remains strong. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: A broader chip-sector pullback and profit-taking briefly weighed on MU earlier in the week as traders worried the memory-supercycle trade had run too far, too fast. Why Sandisk, Micron stock are plunging upto 9% on Tuesday

Insider Transactions at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the sale, the director owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the 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 sale, the executive vice president directly owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 106,000 shares of company stock worth $47,032,460 in the last ninety days. 0.24% of the stock is owned by company insiders.

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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