Great Lakes Advisors LLC Decreases Position in Micron Technology, Inc. $MU

Great Lakes Advisors LLC lessened its holdings in Micron Technology, Inc. (NASDAQ:MU) by 26.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 565,035 shares of the semiconductor manufacturer’s stock after selling 206,804 shares during the period. Micron Technology makes up approximately 1.3% of Great Lakes Advisors LLC’s portfolio, making the stock its 16th largest position. Great Lakes Advisors LLC’s holdings in Micron Technology were worth $161,268,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Connecticut Wealth Management LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $217,000. Aviva PLC boosted its position in Micron Technology by 5.6% in the 4th quarter. Aviva PLC now owns 937,307 shares of the semiconductor manufacturer’s stock valued at $267,517,000 after buying an additional 49,367 shares during the period. Resurgent Financial Advisors LLC purchased a new position in Micron Technology in the 4th quarter valued at approximately $208,000. Banco BTG Pactual S.A. purchased a new position in Micron Technology in the 4th quarter valued at approximately $863,000. Finally, Sustainable Insight Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth $275,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology News Summary

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

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

Insider Activity at Micron Technology

In related news, EVP Sumit Sadana sold 24,000 shares of Micron Technology 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 sale, the executive vice president directly owned 224,021 shares in the company, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the sale, the executive vice president 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 146,000 shares of company stock valued at $85,486,715 over the last quarter. 0.24% of the stock is owned by insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $995.87 on Friday. The company’s fifty day moving average price is $665.31 and its 200 day moving average price is $459.87. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,089.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The firm has a market capitalization of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same period last year, the business earned $1.56 EPS. Micron Technology’s revenue for the quarter was up 196 compared to the same quarter last year. As a group, sell-side analysts predict that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

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

Analyst Upgrades and Downgrades

MU has been the subject of several recent analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 price objective on shares of Micron Technology in a research report on Monday, March 16th. Mizuho lifted their price objective on shares of Micron Technology to $800.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Wolfe Research lifted their price objective on shares of Micron Technology from $550.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank Of Canada lifted their price objective on shares of Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a research report on Monday, March 16th. Finally, Cantor Fitzgerald lifted their price objective on shares of Micron Technology from $700.00 to $1,500.00 and gave the stock an “overweight” rating in a research report on Monday. Five 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. Based on data from MarketBeat, Micron Technology has an average rating of “Buy” and a consensus price target of $737.63.

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.