Norges Bank Makes New Investment in Micron Technology, Inc. $MU

Key Points

• Norges Bank initiated a large new stake in Micron Technology, buying 22.54 million shares worth about $6.43 billion. The position represented roughly 0.7% of its portfolio and about 2.0% of Micron’s shares outstanding.
• Wall Street sentiment remains bullish, with several analysts sharply raising price targets and Micron now carrying an average “Buy” rating. The average target price cited in the article is $595.63.
• Micron also reported strong fundamentals, including earnings of $12.20 per share versus expectations of $9.19 and revenue of $23.86 billion, while recently increasing its quarterly dividend to $0.15 per share.

Norges Bank bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,541,101 shares of the semiconductor manufacturer's stock, valued at approximately $6,433,456,000. Micron Technology comprises approximately 0.7% of Norges Bank's investment portfolio, making the stock its 17th largest position. Norges Bank owned about 2.00% of Micron Technology at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Manning & Napier Advisors LLC lifted its stake in Micron Technology by 2.4% during the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer's stock worth $301,000 after purchasing an additional 24 shares during the last quarter. Round Rock Advisors LLC lifted its stake in Micron Technology by 0.6% during the fourth quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer's stock worth $1,237,000 after purchasing an additional 25 shares during the last quarter. Arlington Trust Co LLC lifted its stake in Micron Technology by 26.3% during the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer's stock worth $34,000 after purchasing an additional 25 shares during the last quarter. Manuka Financial LLC lifted its stake in Micron Technology by 2.3% during the fourth quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer's stock worth $355,000 after purchasing an additional 28 shares during the last quarter. Finally, Valued Wealth Advisors LLC lifted its stake in Micron Technology by 20.9% during the fourth quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer's stock worth $48,000 after purchasing an additional 29 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on MU shares. Susquehanna upped their price target on shares of Micron Technology from $600.00 to $1,750.00 and gave the stock a "positive" rating in a report on Friday. Needham & Company LLC upped their price target on shares of Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Royal Bank Of Canada upped their price target on shares of Micron Technology from $425.00 to $525.00 and gave the stock an "outperform" rating in a report on Monday, March 16th. Wedbush upped their price target on shares of Micron Technology from $320.00 to $500.00 and gave the stock an "outperform" rating in a report on Friday, March 13th. Finally, TD Cowen upped their price target on shares of Micron Technology from $550.00 to $660.00 and gave the stock a "buy" rating in a report on Tuesday, April 28th. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Buy" and an average target price of $595.63.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, April 1st. The stock was 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 directly owned 125,737 shares in the company, valued at $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 106,000 shares of company stock valued at $47,032,460. Company insiders own 0.24% of the company's stock.

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

Micron Technology Stock Performance

NASDAQ MU opened at $970.47 on Friday. The company has a market capitalization of $1.09 trillion, a price-to-earnings ratio of 45.82 and a beta of 1.91. Micron Technology, Inc. has a twelve month low of $92.22 and a twelve month high of $981.00. The stock has a fifty day simple moving average of $557.48 and a 200 day simple moving average of $411.31. 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 posted its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating analysts' consensus estimates of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.Micron Technology's quarterly revenue was up 196 on a year-over-year basis. During the same period in the prior year, the business posted $1.56 earnings per share. Sell-side analysts expect that Micron Technology, Inc. will post 58.62 EPS for the current year.

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 issued a $0.15 dividend. The ex-dividend date was Monday, March 30th. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology's dividend payout ratio (DPR) is currently 2.83%.

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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