Resona Asset Management Co. Ltd. Sells 12,024 Shares of Micron Technology, Inc. $MU

Resona Asset Management Co. Ltd. trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU) by 3.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 334,855 shares of the semiconductor manufacturer’s stock after selling 12,024 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Micron Technology were worth $96,106,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. iA Global Asset Management Inc. grew its position in Micron Technology by 18.7% in the third quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock worth $24,578,000 after acquiring an additional 23,117 shares in the last quarter. Generation Capital Management LLC bought a new stake in Micron Technology in the third quarter worth approximately $238,000. Wealthfront Advisers LLC grew its position in Micron Technology by 9.8% in the third quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock worth $15,962,000 after acquiring an additional 8,489 shares in the last quarter. Westpac Banking Corp lifted its stake in shares of Micron Technology by 251.0% in the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock worth $3,863,000 after buying an additional 16,509 shares during the last quarter. Finally, Avanda Investment Management Pte. Ltd. acquired a new stake in shares of Micron Technology in the third quarter worth $418,000. 80.84% of the stock is owned by institutional investors.

Analyst Ratings Changes

MU has been the subject of a number of analyst reports. Phillip Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Monday, February 2nd. DA Davidson initiated coverage on shares of Micron Technology in a research note on Monday, May 11th. They issued a “buy” rating and a $1,000.00 price objective for the company. Barclays boosted their price objective on shares of Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Erste Group Bank cut shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Micron Technology in a research note on Tuesday, May 12th. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Buy” and an average target price of $495.63.

Insider Activity at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the transaction, the executive vice president directly owned 224,021 shares in the company, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the transaction, the executive vice president 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 have sold 106,000 shares of company stock valued at $47,032,460 in the last 90 days. 0.24% of the stock is owned by company insiders.

Micron Technology News Roundup

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

• Positive Sentiment: Micron remains a major beneficiary of the AI boom, with reports highlighting record highs, strong demand for high-bandwidth memory (HBM), and tight supply that is supporting pricing power and a favorable revenue/margin outlook. Article Title
• Positive Sentiment: News that Samsung may face labor disruptions lifted hopes for tighter memory-chip supply, which can benefit Micron by supporting stronger industry pricing and potentially improving margins. Article Title
• Positive Sentiment: Multiple market pieces pointed to Micron as one of the standout AI trade names, reinforcing investor enthusiasm for the stock after its huge run over the past year. Article Title
• Neutral Sentiment: Several articles focused on bullish investor commentary and portfolio updates, but these were more sentiment-driven than fundamentally new, so they are unlikely to be the main driver of the stock today. Article Title
• Negative Sentiment: Micron came under pressure from a broader semiconductor sell-off and investor worries that the AI rally has pushed memory-chip valuations too far too fast. Article Title
• Negative Sentiment: Some coverage also flagged concerns about demand durability, China exposure, and the risk that memory-market conditions could weaken if AI spending cools. Article Title

Micron Technology Price Performance

NASDAQ:MU opened at $681.54 on Tuesday. The stock has a market cap of $768.60 billion, a P/E ratio of 32.18 and a beta of 1.91. Micron Technology, Inc. has a one year low of $90.93 and a one year high of $818.67. The company has a fifty day moving average price of $484.78 and a 200 day moving average price of $374.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology Increases Dividend

The business also recently announced 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 represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Monday, March 30th. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio is currently 2.83%.

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.