Securian Asset Management Inc. Sells 23,525 Shares of Micron Technology, Inc. $MU

Securian Asset Management Inc. lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 43.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,522 shares of the semiconductor manufacturer’s stock after selling 23,525 shares during the period. Securian Asset Management Inc.’s holdings in Micron Technology were worth $8,711,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. State Street Corp lifted its position in Micron Technology by 0.6% in the third quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer’s stock valued at $8,643,613,000 after purchasing an additional 285,582 shares during the last quarter. Capital International Investors lifted its position in Micron Technology by 0.7% in the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock valued at $3,910,198,000 after purchasing an additional 155,860 shares during the last quarter. Invesco Ltd. lifted its position in Micron Technology by 8.0% in the third quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer’s stock valued at $1,609,981,000 after purchasing an additional 708,716 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in shares of Micron Technology by 1.9% during the third quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer’s stock valued at $1,217,394,000 after acquiring an additional 135,850 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Buying and Selling

In related news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 125,737 shares of the company’s stock, 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 sold a total of 104,000 shares of company stock valued at $45,458,400 over the last three months. Corporate insiders own 0.24% of the company’s stock.

More Micron Technology News

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

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What’s Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MU. Phillip Securities raised shares of Micron Technology to a “strong-buy” rating in a research note on Monday, February 2nd. Stifel Nicolaus upped their price objective on shares of Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Rosenblatt Securities reaffirmed a “buy” rating and set a $500.00 price objective on shares of Micron Technology in a research note on Monday, March 16th. Erste Group Bank downgraded shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Finally, The Goldman Sachs Group upped their price objective on shares of Micron Technology from $360.00 to $400.00 and gave the company a “neutral” rating in a research note 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 issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $478.24.

Micron Technology Price Performance

MU stock opened at $746.33 on Monday. Micron Technology, Inc. has a 1 year low of $84.68 and a 1 year high of $747.21. The company has a market cap of $841.66 billion, a P/E ratio of 35.24 and a beta of 1.91. The firm has a 50-day moving average of $435.84 and a 200 day moving average of $348.07. 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 declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 30th. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology’s 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.