Micron Technology, Inc. $MU Shares Bought by New Mexico Educational Retirement Board

Key Points

• New Mexico Educational Retirement Board boosted its Micron stake by 4.8% in the fourth quarter, buying 2,400 more shares and bringing its total to 52,875 shares valued at about $15.1 million.
• Micron reported strong quarterly results, with earnings of $12.20 per share and revenue of $23.86 billion, both well above Wall Street expectations and sharply higher year over year.
• Despite the stock’s recent strength, analysts remain broadly bullish: several firms raised price targets, and Micron now carries an average “Buy” rating with a consensus target price of $595.63.

New Mexico Educational Retirement Board raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 4.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 52,875 shares of the semiconductor manufacturer's stock after purchasing an additional 2,400 shares during the period. Micron Technology comprises approximately 0.5% of New Mexico Educational Retirement Board's holdings, making the stock its 26th largest holding. New Mexico Educational Retirement Board's holdings in Micron Technology were worth $15,091,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Generation Capital Management LLC acquired a new stake in shares of Micron Technology during the 3rd quarter valued at approximately $238,000. Wealthfront Advisers LLC grew its stake in Micron Technology by 9.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer's stock worth $15,962,000 after buying an additional 8,489 shares during the last quarter. Westpac Banking Corp grew its stake in Micron Technology by 251.0% during the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after buying an additional 16,509 shares during the last quarter. Avanda Investment Management Pte. Ltd. bought a new position in Micron Technology during the 3rd quarter worth $418,000. Finally, Wellington Management Group LLP grew its stake in Micron Technology by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock worth $1,196,427,000 after buying an additional 1,188,296 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Down 0.1%

Shares of MU stock opened at $970.47 on Monday. The stock has a 50-day simple moving average of $557.48 and a 200 day simple moving average of $412.42. Micron Technology, Inc. has a fifty-two week low of $92.22 and a fifty-two week high of $981.00. The stock has a market capitalization of $1.09 trillion, a P/E ratio of 45.82 and a beta of 2.15. 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 (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating the consensus estimate of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business had revenue of $23.86 billion during the quarter, compared to analysts' expectations of $19.97 billion. During the same quarter last year, the business posted $1.56 earnings per share. The company's quarterly revenue was up 196 on a year-over-year basis. On average, sell-side analysts expect that Micron Technology, Inc. will post 58.62 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

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

Insider Buying and Selling

In related 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 value of $1,574,060.00. Following the completion of the transaction, the director owned 17,139 shares in the company, valued at $13,488,907.17. This trade represents a 10.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the transaction, the chief executive officer owned 424,503 shares of the company's stock, valued at $227,643,978.78. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 106,000 shares of company stock worth $47,032,460. Company insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on MU. Morgan Stanley upped their price objective on Micron Technology from $350.00 to $450.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 11th. Susquehanna upped their price objective on Micron Technology from $600.00 to $1,750.00 and gave the stock a "positive" rating in a research note on Friday. Royal Bank Of Canada upped their price objective on Micron Technology from $425.00 to $525.00 and gave the stock an "outperform" rating in a research note on Monday, March 16th. Weiss Ratings restated a "buy (b)" rating on shares of Micron Technology in a research note on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Micron Technology from $500.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology presently has an average rating of "Buy" and an average target price of $595.63.

More Micron Technology News

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

• Positive Sentiment: UBS and Susquehanna sharply raised their price targets on Micron, reinforcing the view that AI memory demand could support much more upside. Analyst price target update
• Positive Sentiment: Commentary around Micron crossing a $1 trillion market cap is fueling momentum buying and signaling that investors now view MU as a core AI beneficiary rather than a traditional cyclical chip stock. Micron valuation check article
• Positive Sentiment: Multiple reports highlight strong quarterly revenue growth, expanding cloud-memory demand, and record gross margins, which support the case for continued earnings strength. AI memory boom article
• Neutral Sentiment: Fund filings showed mixed institutional activity, with some large hedge funds adding to MU while others trimmed positions, suggesting broad interest but not unanimous conviction. Hedge fund activity article
• Negative Sentiment: Some analysts and commentators warned that Micron’s valuation may be getting stretched, and bearish pieces raised concerns about competition, cannibalization, and a potential depreciation “cliff” if AI spending slows. Bearish downgrade article
• Negative Sentiment: Samsung’s new AI memory chip and ongoing rivalry with SK Hynix underscore that competition in high-margin AI memory remains intense. Samsung rivalry article

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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