Micron Technology, Inc. $MU Stake Raised by E Fund Management Hong Kong Co. Ltd.

E Fund Management Hong Kong Co. Ltd. boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 383.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,821 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,824 shares during the quarter. E Fund Management Hong Kong Co. Ltd.’s holdings in Micron Technology were worth $1,376,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Elevation Wealth Partners LLC raised its position in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. raised its position in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after acquiring an additional 96 shares in the last quarter. Joseph Group Capital Management bought a new stake in Micron Technology in the fourth quarter worth about $31,000. Luken Investment Analytics LLC bought a new stake in Micron Technology in the fourth quarter worth about $31,000. Finally, GHP Investment Advisors Inc. raised its position in Micron Technology by 91.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock worth $31,000 after acquiring an additional 52 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on MU shares. Bank of America boosted their price target on shares of Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. UBS Group boosted their price objective on Micron Technology from $510.00 to $535.00 and gave the stock a “buy” rating in a report on Wednesday, April 8th. Barclays boosted their price objective on Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Stifel Nicolaus boosted their price objective on Micron Technology from $360.00 to $550.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Finally, Citigroup cut their price objective on Micron Technology from $510.00 to $425.00 and set a “buy” rating on the stock in a report on Tuesday, March 31st. Five research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned 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 target price of $495.63.

More Micron Technology News

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

• Positive Sentiment: Analysts and market commentators say Micron is benefiting from surging demand for HBM, DRAM and AI infrastructure memory, with supply still tight. BofA Sees More Room for Micron’s AI Rally
• Positive Sentiment: Micron is being highlighted as a direct AI winner, with articles arguing the company is still early in the AI cycle rather than near the top of it. Why Daniel Newman Thinks Micron Technology Proves We Are Still In AI ‘Parking Lot’— It Is ‘Not Late’ To Get In
• Positive Sentiment: Fresh product momentum also supports the bull case, including sampling of a faster 256GB DDR5 server module for AI and data-center workloads. Micron Redefines AI Performance With Sampling of 256GB DDR5 Server Module
• Neutral Sentiment: Some investors are also watching Micron’s sharp run and warning that the stock may be extended after a huge rally, which could mean near-term volatility even if the long-term story remains strong. Micron Investors Face a High-Stakes Moment After the Latest Rally
• Negative Sentiment: A broader chip-sector pullback and profit-taking briefly weighed on MU earlier in the week as traders worried the memory-supercycle trade had run too far, too fast. Why Sandisk, Micron stock are plunging upto 9% on Tuesday

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the transaction, the director 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 Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, 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 position. 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 106,000 shares of company stock worth $47,032,460 over the last quarter. Company insiders own 0.24% of the company’s stock.

Micron Technology Price Performance

Shares of MU opened at $803.63 on Thursday. The company has a market capitalization of $906.28 billion, a price-to-earnings ratio of 37.94 and a beta of 1.91. Micron Technology, Inc. has a fifty-two week low of $90.93 and a fifty-two week high of $818.67. 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 business’s 50-day moving average is $464.69 and its 200-day moving average is $364.25.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders 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 dividend on an annualized basis 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 is currently 2.83%.

Micron Technology Company 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.