Chase Investment Counsel Corp Purchases 5,499 Shares of Micron Technology, Inc. $MU

Chase Investment Counsel Corp raised its position in Micron Technology, Inc. (NASDAQ:MU) by 77.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,620 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,499 shares during the period. Chase Investment Counsel Corp’s holdings in Micron Technology were worth $3,601,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in MU. iA Global Asset Management Inc. grew its position in Micron Technology by 18.7% in the 3rd quarter. iA Global Asset Management Inc. now owns 146,890 shares of the semiconductor manufacturer’s stock valued at $24,578,000 after acquiring an additional 23,117 shares during the last quarter. Generation Capital Management LLC bought a new position in Micron Technology in the 3rd quarter valued at $238,000. Wealthfront Advisers LLC grew its position in Micron Technology by 9.8% in the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock valued at $15,962,000 after acquiring an additional 8,489 shares during the last quarter. Westpac Banking Corp grew its position in Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock valued at $3,863,000 after acquiring an additional 16,509 shares during the last quarter. Finally, Avanda Investment Management Pte. Ltd. bought a new position in Micron Technology in the 3rd quarter valued at $418,000. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Price Performance

Shares of MU stock opened at $724.66 on Monday. Micron Technology, Inc. has a twelve month low of $90.93 and a twelve month high of $818.67. The stock has a market capitalization of $817.22 billion, a price-to-earnings ratio of 34.21 and a beta of 1.91. The stock has a fifty day simple moving average of $479.09 and a two-hundred day simple moving average of $371.73. 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 announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were issued a $0.15 dividend. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

Analysts Set New Price Targets

Several brokerages have commented on MU. Sanford C. Bernstein upped their price objective on Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a research report on Wednesday, March 18th. TD Cowen upped their price objective on Micron Technology from $550.00 to $660.00 and gave the company a “buy” rating in a research report on Tuesday, April 28th. William Blair began coverage on Micron Technology in a research report on Thursday, January 22nd. They issued an “outperform” rating on the stock. Citigroup cut their price objective on Micron Technology from $510.00 to $425.00 and set a “buy” rating on the stock in a research report on Tuesday, March 31st. Finally, Morgan Stanley upped their target price on Micron Technology from $350.00 to $450.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Micron Technology currently has an average rating of “Buy” and a consensus price target of $495.63.

Insider Transactions at Micron Technology

In related news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was 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 directly owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction on Friday, April 10th. The stock was 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 of the company’s stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 106,000 shares of company stock valued at $47,032,460 over the last 90 days. 0.24% of the stock is owned by corporate insiders.

Key Micron Technology News

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

• Positive Sentiment: Analysts raised Micron’s earnings estimates, reinforcing expectations that AI-driven memory demand will keep boosting profits. Micron Technology stock report
• Positive Sentiment: Multiple articles highlight tight memory supply and surging demand for HBM, DRAM and SSDs, which supports Micron’s pricing power. Zacks Investment Ideas feature highlights: Micron, Sandisk and Nvidia
• Positive Sentiment: Micron continues to be viewed as a major beneficiary of the AI infrastructure buildout, with analysts and commentators floating much higher valuation targets. Here’s Why Micron Can Reach a $1 Trillion Market Cap This Year
• Neutral Sentiment: Some commentary says Micron’s recent surge has made the stock vulnerable to volatility and profit-taking after the sharp advance. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: Renewed uncertainty around U.S.-China chip policy is pressuring semiconductor stocks and dragging Micron lower in the near term. Why Micron Stock Just Dropped
• Negative Sentiment: A director sold shares this week, which may add a small overhang even though the transaction looks routine. Steven J. Gomo insider sale

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.