Micron Technology, Inc. $MU Shares Sold by Rathbones Group PLC

Rathbones Group PLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 8.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,665 shares of the semiconductor manufacturer’s stock after selling 2,017 shares during the period. Rathbones Group PLC’s holdings in Micron Technology were worth $5,898,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in MU. AQR Capital Management LLC increased its holdings in Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after purchasing an additional 2,918,535 shares in the last quarter. Vanguard Group Inc. increased its holdings in Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares in the last quarter. California Public Employees Retirement System increased its holdings in Micron Technology by 70.2% in the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock valued at $505,942,000 after purchasing an additional 1,246,773 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in Micron Technology by 1,064.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock valued at $218,264,000 after purchasing an additional 1,192,433 shares in the last quarter. Finally, Wellington Management Group LLP increased its holdings in Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock valued at $1,196,427,000 after purchasing an additional 1,188,296 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Micron shares are rising as the memory-chip rally reawakens, with Samsung’s last-minute labor deal and strike fears helping fuel expectations for tighter supply and higher pricing across the sector. Micron and SK Hynix Stocks Rise. The Memory-Chip Boom Is Back.
• Positive Sentiment: Micron is also benefiting from a wave of bullish AI-memory coverage, with investors focusing on structural demand from data centers, record revenue guidance, and strong gross-margin potential. Micron’s AI Memory Dominance Is Just Beginning
• Positive Sentiment: Several analysts are arguing Micron’s valuation still looks attractive relative to other AI chip names, reinforcing the case that the stock can keep climbing if memory demand stays hot. MU vs. AMD: Which AI Semiconductor Stock Is the Better Buy?
• Neutral Sentiment: Micron Biomedical announced the grand opening of a commercial-scale manufacturing site in Georgia, a long-term operational milestone that is not likely to move MU shares much in the short term. Micron Biomedical Celebrates the Grand Opening of Its Commercial-Scale Manufacturing Site in Georgia
• Negative Sentiment: A contrarian take notes that the easy money in this memory cycle may already be behind investors, suggesting upside could become harder to realize if pricing or demand cools. Micron: The Easy Money In This Cycle Is Behind Us

Insider Activity

In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Gomo sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares in the company, valued at $13,488,907.17. The trade was a 10.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 106,000 shares of company stock worth $47,032,460 over the last ninety days. 0.24% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MU. HSBC upped their price objective on shares of Micron Technology from $350.00 to $500.00 and gave the company a “buy” rating in a research report on Friday, January 23rd. Morgan Stanley increased their price target on shares of Micron Technology from $350.00 to $450.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Phillip Securities raised shares of Micron Technology to a “strong-buy” rating in a research report on Monday, February 2nd. Wedbush increased their price target on shares of Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, March 13th. Finally, Cantor Fitzgerald increased their price target on shares of Micron Technology from $450.00 to $700.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $518.47.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $762.10 on Friday. The firm’s 50 day moving average is $505.38 and its two-hundred day moving average is $385.66. Micron Technology, Inc. has a 52 week low of $90.93 and a 52 week high of $818.67. The firm has a market capitalization of $859.45 billion, a P/E ratio of 35.98 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. The ex-dividend date was Monday, March 30th. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is 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.