Nordea Investment Management AB Increases Holdings in Micron Technology, Inc. $MU

Key Points

• Nordea Investment Management AB significantly increased its holdings in Micron Technology, lifting its position by 377.0% during the 2nd quarter, owning over 1.39 million shares valued at approximately $171.5 million.
• Micron Technology reported a 46.1% year-over-year revenue increase for the recent quarter, reaching $11.32 billion, while maintaining a consistent earnings per share of $2.86.
• The company announced a quarterly dividend of $0.115 per share, with an annualized yield of 0.2%, payable to stockholders on October 21st.

Nordea Investment Management AB lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 377.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,395,586 shares of the semiconductor manufacturer's stock after acquiring an additional 1,103,002 shares during the quarter. Nordea Investment Management AB owned 0.12% of Micron Technology worth $171,524,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after acquiring an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after acquiring an additional 2,038,641 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Micron Technology by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock worth $602,917,000 after acquiring an additional 58,285 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after acquiring an additional 1,416,174 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of Micron Technology by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock worth $379,417,000 after acquiring an additional 17,970 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Trading Down 0.1%

Shares of Micron Technology stock opened at $202.38 on Friday. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $206.34. The firm has a market cap of $227.17 billion, a PE ratio of 26.66, a P/E/G ratio of 0.45 and a beta of 1.56. The business's fifty day moving average is $151.20 and its two-hundred day moving average is $117.50. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, hitting analysts' consensus estimates of $2.86. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The company had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. During the same quarter in the prior year, the company posted $1.18 EPS. The business's revenue for the quarter was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology's dividend payout ratio is presently 6.06%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Raymond James Financial upped their target price on Micron Technology from $150.00 to $190.00 and gave the company an "outperform" rating in a research note on Wednesday, September 24th. KeyCorp upped their target price on Micron Technology from $160.00 to $215.00 and gave the company an "overweight" rating in a research note on Wednesday, September 24th. Needham & Company LLC upped their target price on Micron Technology from $150.00 to $200.00 and gave the company a "buy" rating in a research note on Wednesday, September 24th. Morgan Stanley raised Micron Technology from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $160.00 to $220.00 in a research note on Monday, October 6th. Finally, Citigroup upped their target price on Micron Technology from $200.00 to $240.00 and gave the company a "buy" rating in a research note on Thursday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of "Buy" and a consensus target price of $198.32.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 21,563 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total value of $4,063,978.61. Following the transaction, the chief executive officer directly owned 272,648 shares of the company's stock, valued at approximately $51,385,968.56. This trade represents a 7.33% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the transaction, the director directly owned 96,031 shares in the company, valued at $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 146,956 shares of company stock valued at $22,841,025. Corporate insiders own 0.30% of the company's stock.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.

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