Rakuten Investment Management Inc. Acquires 145,419 Shares of Micron Technology, Inc. $MU

Rakuten Investment Management Inc. boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 172.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 229,703 shares of the semiconductor manufacturer’s stock after purchasing an additional 145,419 shares during the quarter. Micron Technology comprises approximately 0.2% of Rakuten Investment Management Inc.’s holdings, making the stock its 26th largest position. Rakuten Investment Management Inc.’s holdings in Micron Technology were worth $67,618,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in MU. Brighton Jones LLC boosted its stake in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after purchasing an additional 976 shares during the period. Sivia Capital Partners LLC lifted its position in shares of Micron Technology by 21.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after acquiring an additional 628 shares during the period. United Bank bought a new stake in shares of Micron Technology in the 2nd quarter worth approximately $236,000. Schnieders Capital Management LLC. lifted its position in shares of Micron Technology by 67.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock worth $2,093,000 after acquiring an additional 6,867 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Micron Technology by 5.6% in the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock worth $49,987,000 after acquiring an additional 21,619 shares during the period. Institutional investors own 80.84% of the company’s stock.

Key Micron Technology News

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

• Positive Sentiment: TD Cowen raised its price target on Micron to $1,500 from $660 and reiterated a buy rating, saying AI-driven memory demand could support pricing strength through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: RBC also lifted its Micron target, citing a stronger memory cycle and AI demand, while other firms including Wolfe Research and Cantor Fitzgerald have recently posted bullish targets, reinforcing the optimistic Wall Street backdrop. Micron Price Target Raised at RBC on Stronger Memory Cycle, AI Demand
• Positive Sentiment: Investors are betting that AI infrastructure spending and memory shortages will keep Micron’s pricing power elevated, with multiple reports describing the stock as a beneficiary of a broader semiconductor and storage rally. Micron Stock Wins Over the Crowd Ahead of Q3 Earnings
• Neutral Sentiment: Some commentary warns that the stock is becoming stretched after a huge run, with articles highlighting overbought signals and cycle-risk concerns ahead of earnings. Micron: AI’s Memory King Still Can’t Escape The Cycle
• Negative Sentiment: Bearish takes note that Micron is already pricing in a lot of good news, and options activity suggests traders are hedging against volatility or a potential post-earnings pullback. Micron: Why Option Market Prices Key Risks Differently

Analysts Set New Price Targets

A number of brokerages have commented on MU. Wedbush raised their price objective on Micron Technology from $320.00 to $500.00 and gave the stock an “outperform” rating in a research report on Friday, March 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $500.00 price objective on shares of Micron Technology in a research report on Monday, March 16th. Melius Research began coverage on Micron Technology in a research report on Monday, April 27th. They issued a “buy” rating and a $700.00 price objective for the company. 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. Finally, Raymond James Financial raised their price objective on Micron Technology from $530.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Monday, June 1st. 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 company currently has a consensus rating of “Buy” and a consensus target price of $788.13.

Insiders Place Their Bets

In related news, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 37,439 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $960.38, for a total value of $35,955,666.82. Following the sale, the chief executive officer directly owned 387,064 shares of the company’s stock, valued at $371,728,524.32. This represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 146,000 shares of company stock valued at $85,486,715. Company insiders own 0.24% of the company’s stock.

Micron Technology Price Performance

Micron Technology stock opened at $1,087.99 on Tuesday. 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 company has a market capitalization of $1.23 trillion, a PE ratio of 51.37 and a beta of 2.15. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,097.47. The business has a 50 day simple moving average of $692.02 and a 200 day simple moving average of $471.28.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. During the same quarter last year, the company earned $1.56 EPS. Micron Technology’s revenue was up 196 on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is 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.