Mitsubishi UFJ Asset Management UK Ltd. Makes New $1.14 Million Investment in Micron Technology, Inc. $MU

Key Points

• Mitsubishi UFJ Asset Management UK Ltd. opened a new position in Micron Technology during the fourth quarter, buying 4,000 shares valued at about $1.14 million.
• Micron’s stock was reported up 2.5%, and the company recently raised its quarterly dividend to $0.15 per share from $0.12, though the yield remains very small at 0.1%.
• Wall Street sentiment stays upbeat: several analysts boosted price targets, with a consensus rating of “Buy” and an average target of $518.47.

Mitsubishi UFJ Asset Management UK Ltd. purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,000 shares of the semiconductor manufacturer's stock, valued at approximately $1,142,000.

Other institutional investors have also recently bought and sold shares of the company. High Note Wealth LLC increased its position in Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 34 shares during the last quarter. Elevation Wealth Partners LLC increased its position in Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock worth $27,000 after buying an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. increased its position in Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after buying an additional 96 shares during the last quarter. Joseph Group Capital Management acquired a new position in Micron Technology during the fourth quarter worth approximately $31,000. Finally, Luken Investment Analytics LLC bought a new stake in shares of Micron Technology during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Trading Up 2.5%

Shares of MU stock opened at $698.74 on Wednesday. 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 has a market cap of $787.99 billion, a P/E ratio of 32.99 and a beta of 1.91. The stock has a 50 day simple moving average of $491.35 and a 200 day simple moving average of $378.29. Micron Technology, Inc. has a 1 year low of $90.93 and a 1 year high of $818.67.

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 paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. Micron Technology's dividend payout ratio is presently 2.83%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MU shares. Wedbush boosted their price objective on Micron Technology from $320.00 to $500.00 and gave the stock an "outperform" rating in a report on Friday, March 13th. JPMorgan Chase & Co. boosted their price objective on Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. DA Davidson started coverage on Micron Technology in a report on Monday, May 11th. They set a "buy" rating and a $1,000.00 price objective for the company. Needham & Company LLC boosted their price objective on Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Finally, The Goldman Sachs Group boosted their price objective on Micron Technology from $360.00 to $400.00 and gave the stock a "neutral" rating in a report on Thursday, March 19th. Five 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 company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $518.47.

More Micron Technology News

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

• Positive Sentiment: Citigroup raised its price target on Micron Technology (MU) to $840 from $425 and reiterated a buy rating, while Mizuho lifted its target to $800 with an outperform rating, signaling continued Wall Street confidence in the stock’s upside. Article Title
• Positive Sentiment: Multiple articles highlighted Micron as a standout in the AI memory trade, arguing that enterprise AI is shifting capital spending toward storage and NAND flash, which could sustain pricing power and margin expansion for Micron. Article Title
• Positive Sentiment: Investor sentiment was further supported by articles noting that Micron remains one of the market’s profitable AI-related picks and that Wall Street’s 12-month forecasts for the stock remain broadly bullish. Article Title
• Neutral Sentiment: Some commentary suggested Micron’s earlier pullback was tied to broader semiconductor weakness, valuation concerns after a big AI-driven rally, and macro worries such as higher bond yields and memory-demand uncertainty. Article Title

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the business'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 value of $21,450,400.00. Following the completion of the sale, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, 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 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.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.