Nuveen LLC Acquires 96,350 Shares of Micron Technology, Inc. $MU

Nuveen LLC increased its holdings in Micron Technology, Inc. (NASDAQ:MU) by 2.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,478,266 shares of the semiconductor manufacturer’s stock after purchasing an additional 96,350 shares during the period. Nuveen LLC owned approximately 0.31% of Micron Technology worth $992,732,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MU. Brighton Jones LLC boosted its holdings in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after purchasing an additional 976 shares in the last quarter. Sivia Capital Partners LLC boosted its holdings in Micron Technology by 21.7% in the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after purchasing an additional 628 shares in the last quarter. United Bank bought a new stake in Micron Technology in the second quarter worth $236,000. Schnieders Capital Management LLC. boosted its holdings in Micron Technology by 67.9% in the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after purchasing an additional 6,867 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Micron Technology by 5.6% in the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock worth $49,987,000 after purchasing an additional 21,619 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Up 11.7%

MU stock opened at $995.87 on Friday. 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, Inc. has a 52-week low of $103.38 and a 52-week high of $1,089.29. The company has a 50-day moving average of $665.31 and a two-hundred day moving average of $459.87. The stock has a market capitalization of $1.12 trillion, a price-to-earnings ratio of 47.02 and a beta of 2.16.

Micron Technology (NASDAQ:MU) last released its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. During the same period in the prior year, the company earned $1.56 earnings per share. The business’s quarterly revenue was up 196 compared to the same quarter last year. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 59.23 EPS for the current year.

Micron Technology Increases Dividend

The business also recently announced 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 was Monday, March 30th. This is a boost from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio is 2.83%.

Key Stories Impacting Micron Technology

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 April S. Arnzen sold 40,000 shares of the 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 sale, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 146,000 shares of company stock worth $85,486,715 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MU. Wolfe Research upped their price objective on shares of Micron Technology from $550.00 to $1,250.00 and gave the stock an “outperform” rating in a report on Thursday. KeyCorp upped their price objective on shares of Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. TD Cowen upped their price objective on shares of Micron Technology from $550.00 to $660.00 and gave the stock a “buy” rating in a report on Tuesday, April 28th. Royal Bank Of Canada upped their price objective on shares of Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. Finally, Sanford C. Bernstein upped their price target on shares of Micron Technology from $330.00 to $510.00 and gave the company an “outperform” rating in a 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 assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $737.63.

Micron Technology 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.