29,474 Micron Technology, Inc. $MU Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. grew its position in Micron Technology, Inc. (NASDAQ:MU) by 9.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 329,165 shares of the semiconductor manufacturer’s stock after purchasing an additional 29,474 shares during the quarter. Micron Technology comprises 0.9% of Rakuten Investment Management Inc.’s portfolio, making the stock its 13th biggest holding. Rakuten Investment Management Inc.’s holdings in Micron Technology were worth $350,587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Andar Capital Management HK Ltd increased its stake in Micron Technology by 856,960.3% in the second quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer’s stock valued at $39,571,847,000 after acquiring an additional 34,278,413 shares during the last quarter. Primecap Management Co. CA acquired a new position in Micron Technology during the second quarter valued at approximately $22,182,263,000. Bank of America Corp DE lifted its stake in Micron Technology by 26.6% during the second quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer’s stock worth $11,744,621,000 after purchasing an additional 2,136,470 shares during the last quarter. Legal & General Group Plc bought a new stake in Micron Technology during the second quarter worth $8,402,393,000. Finally, Dimensional Fund Advisors LP lifted its stake in Micron Technology by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,967,065 shares of the semiconductor manufacturer’s stock worth $2,352,282,000 after purchasing an additional 86,488 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Key Micron Technology News

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

• Positive Sentiment: Memory stocks recovered as investors rotated back into semiconductor shares, with easing oil prices also helping risk appetite. Why are Micron, SK Hynix, and SanDisk stocks rising on Tuesday?
• Positive Sentiment: AI’s growing need for memory could support Micron’s opportunity: the article highlights memory’s importance to AI performance and the company’s potential to compete on value. Micron Said “Super Intelligence” Creates the Most Compelling Opportunity in Its History
• Positive Sentiment: Micron could step up share repurchases starting in December after Chips Act restrictions expire, potentially adding support for shareholder returns and demand for the stock. Micron Expected to Launch Massive Stock Buybacks in December
• Neutral Sentiment: Some analysts see substantial upside after the pullback, though the coverage cautions that memory-stock rallies have been difficult to sustain. Micron Stock Is in a Slump but Analysts Say It Can Soar 100%
• Negative Sentiment: Investor Dan Niles warned that Chinese memory maker CXMT is targeting a 20% share by 2028, raising the prospect of increased competition for Micron. Micron’s Real Risk: China’s CXMT Targets “20% by 2028,” Warns Dan Niles
• Negative Sentiment: Recent concerns about the memory cycle remain: a cautious outlook from Kioxia weighed on Micron and other memory shares in the prior session, while one commentator argued AI-chip stocks may not have fallen enough. Micron Falls as Kioxia’s Cautious Outlook Hits Memory Stocks

Insider Activity

In other news, EVP Sumit Sadana sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the transaction, the executive vice president owned 191,021 shares in the company, valued at approximately $178,469,010.09. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction on Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the transaction, the chief executive officer owned 264,503 shares in the company, valued at approximately $256,276,956.70. This trade represents a 13.14% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 83,545 shares of company stock valued at $78,460,850. Insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MU shares. William Blair set a $1,300.00 price target on Micron Technology in a research note on Thursday, October 1st. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Micron Technology in a research report on Thursday, October 1st. President Capital raised their price objective on Micron Technology to $1,500.00 and gave the company a “buy” rating in a research note on Friday, July 17th. Citigroup raised their price objective on Micron Technology from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research note on Wednesday, September 23rd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $1,900.00 target price on shares of Micron Technology in a research report on Thursday, October 22nd. One research analyst has rated the stock with a Strong Buy rating, forty-one have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $1,407.88.

Micron Technology Stock Performance

Micron Technology stock opened at $855.10 on Wednesday. The business has a 50 day moving average of $974.91 and a 200-day moving average of $749.61. The company has a market capitalization of $967.48 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.14 and a beta of 2.36. Micron Technology, Inc. has a 1 year low of $192.59 and a 1 year high of $1,255.00. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.31 and a quick ratio of 2.94.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 EPS for the quarter, topping the consensus estimate of $31.77 by $1.65. Micron Technology had a net margin of 63.80% and a return on equity of 92.62%. The business had revenue of $54.23 billion for the quarter, compared to the consensus estimate of $51.33 billion. During the same period last year, the company earned $3.03 EPS. The firm’s revenue was up 379.1% compared to the same quarter last year. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, equities research analysts predict that Micron Technology, Inc. will post 177.03 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is presently 0.81%.

About Micron Technology

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.