Micron Technology, Inc. $MU Shares Purchased by E Fund Management Hong Kong Co. Ltd.

Key Points

• E Fund Management Hong Kong boosted its Micron Technology stake by 383.6% in the fourth quarter, ending with 4,821 shares valued at about $1.38 million.
• Other institutional investors also increased their positions, and hedge funds and institutions now own 80.84% of Micron’s shares.
• Micron’s stock was trading up 4.8%, and the company recently raised its quarterly dividend to $0.15 per share from $0.12.

E Fund Management Hong Kong Co. Ltd. raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 383.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,821 shares of the semiconductor manufacturer's stock after purchasing an additional 3,824 shares during the quarter. E Fund Management Hong Kong Co. Ltd.'s holdings in Micron Technology were worth $1,376,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Plancorp LLC grew its position in shares of Micron Technology by 4.0% in the 4th quarter. Plancorp LLC now owns 2,750 shares of the semiconductor manufacturer's stock worth $785,000 after acquiring an additional 105 shares in the last quarter. Baader Bank Aktiengesellschaft grew its position in shares of Micron Technology by 284.2% in the 4th quarter. Baader Bank Aktiengesellschaft now owns 8,503 shares of the semiconductor manufacturer's stock worth $2,224,000 after acquiring an additional 6,290 shares in the last quarter. Western Wealth Management LLC grew its position in shares of Micron Technology by 44.3% in the 4th quarter. Western Wealth Management LLC now owns 3,136 shares of the semiconductor manufacturer's stock worth $895,000 after acquiring an additional 963 shares in the last quarter. Atlas Private Wealth Advisors acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $245,000. Finally, Allworth Financial LP grew its position in shares of Micron Technology by 103.0% in the 4th quarter. Allworth Financial LP now owns 63,097 shares of the semiconductor manufacturer's stock worth $18,008,000 after acquiring an additional 32,018 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Trading Up 4.8%

Shares of NASDAQ MU opened at $803.63 on Thursday. The company has a market cap of $906.28 billion, a price-to-earnings ratio of 37.94 and a beta of 1.91. Micron Technology, Inc. has a 12-month low of $90.93 and a 12-month high of $818.67. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The stock's 50 day simple moving average is $464.69 and its 200 day simple moving average is $364.25.

Micron Technology Increases Dividend

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

More 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 related news, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction that occurred 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 $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their ownership of the stock. 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 three months. 0.24% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Erste Group Bank lowered Micron Technology from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Susquehanna lifted their target price on Micron Technology from $345.00 to $525.00 and gave the stock a "positive" rating in a research report on Monday, March 9th. Citigroup decreased their target price on Micron Technology from $510.00 to $425.00 and set a "buy" rating for the company in a research report on Tuesday, March 31st. Weiss Ratings reiterated a "buy (b-)" rating on shares of Micron Technology in a research report on Thursday, January 29th. Finally, Royal Bank Of Canada lifted their target price on Micron Technology from $425.00 to $525.00 and gave the stock 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 given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $495.63.

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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