Micron Technology, Inc. $MU Shares Acquired by Fisher Asset Management LLC

Key Points

• Fisher Asset Management increased its Micron stake by 9.0% in the fourth quarter, adding 4,408 shares to bring its total to 53,530 shares worth about $15.3 million.
• Wall Street remains broadly positive on Micron, with multiple analysts raising price targets; the stock now has an average Buy rating and a consensus target of $566.47.
• Micron reported strong quarterly results, including EPS of $12.20 versus $9.19 expected and revenue of $23.86 billion, while also boosting its quarterly dividend to $0.15 per share.

Fisher Asset Management LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 9.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 53,530 shares of the semiconductor manufacturer's stock after purchasing an additional 4,408 shares during the quarter. Fisher Asset Management LLC's holdings in Micron Technology were worth $15,278,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Manning & Napier Advisors LLC raised its stake in Micron Technology by 2.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer's stock worth $301,000 after acquiring an additional 24 shares during the period. Round Rock Advisors LLC raised its stake in Micron Technology by 0.6% during the fourth quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer's stock worth $1,237,000 after acquiring an additional 25 shares during the period. Arlington Trust Co LLC raised its stake in Micron Technology by 26.3% during the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer's stock worth $34,000 after acquiring an additional 25 shares during the period. Manuka Financial LLC raised its stake in Micron Technology by 2.3% during the fourth quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer's stock worth $355,000 after acquiring an additional 28 shares during the period. Finally, Valued Wealth Advisors LLC raised its stake in Micron Technology by 20.9% during the fourth quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer's stock worth $48,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of several research reports. UBS Group upgraded shares of Micron Technology from a "buy" rating to a "neutral" rating in a research note on Tuesday. TD Cowen increased their price objective on shares of Micron Technology from $550.00 to $660.00 and gave the stock a "buy" rating in a research note on Tuesday, April 28th. Morgan Stanley increased their price objective 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. Rosenblatt Securities reiterated a "buy" rating and set a $500.00 price objective on shares of Micron Technology in a research note on Monday, March 16th. Finally, Melius Research initiated coverage on shares of Micron Technology in a research note on Monday, April 27th. They set a "buy" rating and a $700.00 price objective on the stock. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Buy" and an average target price of $566.47.

Insider Buying and Selling at Micron Technology

In related news, Director Steven J. Gomo sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the firm's 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 sale, the chief executive officer owned 424,503 shares of the company's stock, valued at $227,643,978.78. The trade was a 8.61% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 106,000 shares of company stock valued at $47,032,460. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Trading Up 3.6%

Micron Technology stock opened at $928.41 on Thursday. The firm has a 50 day simple moving average of $538.07 and a 200-day simple moving average of $402.54. 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 stock has a market capitalization of $1.05 trillion, a PE ratio of 43.83 and a beta of 1.91. Micron Technology, Inc. has a 12-month low of $92.22 and a 12-month high of $956.16.

Micron Technology (NASDAQ:MU - Get Free Report) last posted 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 net margin of 41.49% and a return on equity of 41.16%. The business's revenue was up 196 on a year-over-year basis. During the same period last year, the firm posted $1.56 earnings per share. As a group, equities research analysts expect that Micron Technology, Inc. will post 57.82 EPS for the current fiscal year.

Micron Technology Increases Dividend

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

Micron Technology News Roundup

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

• Positive Sentiment: UBS and Barclays raised their Micron price targets, with UBS setting a Street-high target of $1,625, fueling fresh buying. Benzinga report on UBS price target hike
• Positive Sentiment: Investors are betting that AI-driven shortages in DRAM and HBM memory will keep pricing power strong, supporting Micron’s earnings and margins. Reuters article on Micron joining the $1 trillion club
• Positive Sentiment: Micron’s latest earnings and guidance were extremely strong, with revenue up sharply year over year and management pointing to even higher fiscal Q3 revenue and margins. Seeking Alpha article on Micron’s AI bottleneck trade
• Positive Sentiment: The company announced its fiscal third-quarter earnings report will be released on June 24, keeping attention on another potential catalyst. Micron earnings date announcement
• Neutral Sentiment: Micron has crossed the $1 trillion market-cap milestone, a major headline that underscores the scale of the rally but also raises valuation questions. Forbes article on Micron passing $1 trillion
• Neutral Sentiment: Broader tech and chip stocks are also benefiting from the AI trade, helping support Micron’s move even as the wider market remains mixed. MarketWatch article on memory-chip rally
• Negative Sentiment: Some commentators warn the stock may be getting extended after its huge run, arguing that Micron is now priced for perfection and could be vulnerable if sentiment cools. 24/7 Wall St. cautionary article

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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