Meiji Yasuda Asset Management Co Ltd. Increases Position in Micron Technology, Inc. $MU

Meiji Yasuda Asset Management Co Ltd. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 231.7% during the fourth quarter, HoldingsChannel reports. The fund owned 23,192 shares of the semiconductor manufacturer’s stock after acquiring an additional 16,200 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Micron Technology were worth $6,619,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Manning & Napier Advisors LLC increased its holdings in shares of Micron Technology by 2.4% in the 4th quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer’s stock valued at $301,000 after acquiring an additional 24 shares during the period. Round Rock Advisors LLC increased its holdings in shares of Micron Technology by 0.6% in the 4th quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer’s stock valued at $1,237,000 after acquiring an additional 25 shares during the period. Arlington Trust Co LLC increased its holdings in shares of Micron Technology by 26.3% in the 4th quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer’s stock valued at $34,000 after acquiring an additional 25 shares during the period. Manuka Financial LLC increased its holdings in shares of Micron Technology by 2.3% in the 4th quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer’s stock valued at $355,000 after acquiring an additional 28 shares during the period. Finally, Valued Wealth Advisors LLC increased its holdings in shares of Micron Technology by 20.9% in the 4th quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer’s stock valued at $48,000 after acquiring an additional 29 shares during the period. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on MU shares. JPMorgan Chase & Co. lifted their price target on Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Bank of America lifted their price target on Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a report on Thursday, March 19th. The Goldman Sachs Group raised their price objective on Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a research report on Thursday, March 19th. Wells Fargo & Company raised their price objective on Micron Technology from $470.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Finally, Sanford C. Bernstein raised their price objective on Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 18th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $518.47.

More Micron Technology News

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

Micron Technology Stock Performance

Shares of MU stock opened at $762.10 on Friday. The stock has a market cap of $859.45 billion, a PE ratio of 35.98 and a beta of 1.91. The business has a 50-day simple moving average of $505.38 and a 200-day simple moving average of $385.66. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 52-week low of $90.93 and a 52-week high of $818.67.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a $0.15 dividend. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s payout ratio is presently 2.83%.

Insider Buying and Selling

In other news, EVP Sumit Sadana sold 24,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. The trade was a 9.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the transaction, the director directly owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 106,000 shares of company stock worth $47,032,460. Corporate insiders own 0.24% of the company’s stock.

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.