National Bank of Canada FI Acquires 319,713 Shares of Micron Technology, Inc. $MU

Key Points

• National Bank of Canada FI boosted its Micron stake 22.6% in Q3, buying 319,713 shares to own 1,735,815 shares (about 0.15% of the company) valued at roughly $290.4 million.
• Multiple brokers have raised price targets toward the ~$500 area and the consensus rating is "Buy" (average target $394.59) as Micron enters high‑volume production of HBM4, PCIe Gen6 SSD and SOCAMM2, though analysts flag timing risk and possible memory downcycle.

National Bank of Canada FI grew its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 22.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,735,815 shares of the semiconductor manufacturer's stock after purchasing an additional 319,713 shares during the quarter. National Bank of Canada FI owned about 0.15% of Micron Technology worth $290,436,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. American Capital Advisory LLC raised its holdings in shares of Micron Technology by 20.4% in the third quarter. American Capital Advisory LLC now owns 272 shares of the semiconductor manufacturer's stock valued at $46,000 after buying an additional 46 shares during the last quarter. Winthrop Capital Management LLC lifted its position in Micron Technology by 4.0% during the 3rd quarter. Winthrop Capital Management LLC now owns 1,234 shares of the semiconductor manufacturer's stock worth $206,000 after buying an additional 47 shares in the last quarter. Main Street Research LLC grew its holdings in Micron Technology by 0.8% during the 3rd quarter. Main Street Research LLC now owns 5,976 shares of the semiconductor manufacturer's stock worth $1,000,000 after acquiring an additional 47 shares during the last quarter. Teamwork Financial Advisors LLC grew its holdings in Micron Technology by 0.4% during the 3rd quarter. Teamwork Financial Advisors LLC now owns 14,974 shares of the semiconductor manufacturer's stock worth $2,505,000 after acquiring an additional 53 shares during the last quarter. Finally, Blue Trust Inc. increased its position in Micron Technology by 0.5% in the 3rd quarter. Blue Trust Inc. now owns 10,633 shares of the semiconductor manufacturer's stock valued at $1,779,000 after acquiring an additional 53 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research analyst reports. KeyCorp boosted their target price on shares of Micron Technology from $325.00 to $450.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 13th. HSBC increased their price target on shares of Micron Technology from $350.00 to $500.00 and gave the company a "buy" rating in a research note on Friday, January 23rd. Itau BBA Securities restated an "outperform" rating on shares of Micron Technology in a research report on Thursday, December 18th. Stifel Nicolaus upped their price objective on Micron Technology from $360.00 to $550.00 and gave the stock a "buy" rating in a report on Monday, March 2nd. Finally, Susquehanna increased their price objective on Micron Technology from $345.00 to $525.00 and gave the company a "positive" rating in a research report on Monday, March 9th. Six investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average target price of $394.59.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Wall Street lifts targets and ratings — multiple brokers (RBC, TD Cowen, Rosenblatt, Baird and others) have raised price targets into the ~$500 area on stronger AI memory demand and tighter DRAM pricing, supporting upside expectations. Article Title
• Positive Sentiment: Production milestones: Micron says HBM4 36GB, PCIe Gen6 SSD and SOCAMM2 families are in high‑volume production — these product ramps directly address data‑center/AI customers (NVIDIA cited) and should support near‑term revenue and margin improvements. Article Title
• Positive Sentiment: Tongluo (Taiwan) acquisition and second‑fab plan — Micron completed the PSMC Tongluo P5 site acquisition and plans a second facility, expanding cleanroom capacity to support AI DRAM/HBM shipments (meaningful shipments expected from fiscal 2028). This strengthens capacity roadmap for sustained AI demand. Article Title
• Neutral Sentiment: Momentum and technicals: MU is trading near 52‑week highs with bullish MACD and strong institutional flows; technical strength is attracting momentum traders into earnings week. Article Title
• Neutral Sentiment: Pre‑earnings positioning and mixed investor moves — hedge funds and some billionaire filings show rotation into MU while others trim peers; traders are pricing in a possible beat but volatility around the print remains possible. Article Title
• Negative Sentiment: Downcycle risk and timing: some analysts and commentary warn a memory downcycle could arrive sooner than expected, and the Tongluo site won't meaningfully contribute until FY2028 — both raise execution/timing risk for near‑term revenue. Article Title
• Negative Sentiment: Insider selling: public filings and data summaries show notable insider sales activity in recent months, which some investors view as a cautionary flag despite institutional accumulation. Article Title

Micron Technology Trading Up 3.7%

MU opened at $441.80 on Tuesday. The firm has a 50 day simple moving average of $393.94 and a 200 day simple moving average of $276.09. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $455.50. The company has a market cap of $497.25 billion, a price-to-earnings ratio of 42.00 and a beta of 1.50. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.46 and a quick ratio of 1.78.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, December 17th. The semiconductor manufacturer reported $4.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.77 by $1.01. Micron Technology had a net margin of 28.15% and a return on equity of 22.71%. The firm had revenue of $13.64 billion for the quarter, compared to analysts' expectations of $12.62 billion. During the same period last year, the firm earned $1.79 earnings per share. The business's revenue for the quarter was up 56.7% on a year-over-year basis. Micron Technology has set its Q2 2026 guidance at 8.220-8.620 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 14th. Stockholders of record on Monday, December 29th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, December 29th. Micron Technology's dividend payout ratio (DPR) is currently 4.37%.

Insiders Place Their Bets

In related news, EVP Manish H. Bhatia sold 26,623 shares of Micron Technology stock in a transaction on Thursday, January 22nd. The stock was sold at an average price of $391.04, for a total transaction of $10,410,657.92. Following the completion of the sale, the executive vice president directly owned 323,486 shares of the company's stock, valued at $126,495,965.44. The trade was a 7.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Sumit Sadana sold 25,000 shares of the company's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $429.89, for a total value of $10,747,250.00. Following the completion of the sale, the executive vice president owned 248,021 shares of the company's stock, valued at $106,621,747.69. This represents a 9.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 23,200 shares of company stock worth $7,821,723 and sold 73,623 shares worth $27,307,408. Company insiders own 0.24% of the company's stock.

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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