Assetmark Inc. Expands Investment in Micron Technology, Signaling Strong Outlook
New York, NY – March 12, 2025 – Assetmark Inc. significantly increased its position in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to a recent filing with the Securities and Exchange Commission (SEC). The firm increased its holdings by 46.3%, purchasing an additional 15,167 shares, bringing its total to 47,959 shares. At the end of the quarter, Assetmark’s investment in Micron Technology was valued at $4,036,000.
Several other prominent institutional investors have also been actively trading shares of the semiconductor manufacturer.
State Street Corp increased its stake by 3.1% in the third quarter, now holding 48,226,710 shares valued at $5,001,592,000 after acquiring an additional 1,434,568 shares.
Primecap Management Co. CA raised its holdings by 0.6% during the same period, owning 37,631,860 shares worth $3,902,800,000 after adding 206,499 shares. Geode Capital Management LLC lifted its position by 3.9%, now holding 23,723,545 shares valued at $2,451,987,000 after acquiring an additional 892,607 shares. UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC, boosted its stake by 21.7%, possessing 11,326,224 shares valued at $1,174,643,000 following the acquisition of 2,022,180 shares. Finally, Bank of New York Mellon Corp increased its holdings by 1.5% in the fourth quarter and now owns 9,956,311 shares worth $837,923,000 after purchasing an additional 144,897 shares. Institutional investors collectively hold 80.84% of the company’s stock, indicating strong confidence in the company’s future.
Analyst Ratings and Price Targets
Recent analyst reports reflect a mixed sentiment towards Micron Technology shares. Several analysts have adjusted their price objectives:
- Cantor Fitzgerald lowered its price objective from $150.00 to $130.00 while maintaining an “overweight” rating.
- Mizuho reduced its price target from $135.00 to $115.00, maintaining an “outperform” rating.
- Bank of America downgraded the stock from a “buy” to a “neutral” rating and lowered its price objective from $125.00 to $110.00.
- Needham & Company LLC reduced its target price from $140.00 to $120.00, keeping a “buy” rating.
- Wells Fargo & Company decreased its target price from $175.00 to $140.00, still assigning an “overweight” rating.
Currently, one analyst has a sell rating, three have assigned a hold rating, twenty-three have buy ratings, and one has assigned a strong buy rating. The consensus rating for MU is a “Moderate Buy,” with an average target price of $134.96.
Micron Technology’s Financial Performance and Recent Stock Activity
On Wednesday, shares of MU stock rose $6.58 to reach $95.63. A total of 20,217,060 shares changed hands, compared to the average daily volume of 22,092,633 shares. The company’s stock has traded within a 52-week range of $83.54 to $157.54. Micron Technology’s 50-day moving average is $96.12, and its 200-day moving average is $98.07.
The company’s debt-to-equity ratio stands at 0.28, with a quick ratio of 1.75 and a current ratio of 2.72. The company has a market capitalization of $106.55 billion, a price-to-earnings ratio of 27.56, and a beta of 1.23.
Micron Technology reported its quarterly earnings on December 18th. The company’s earnings per share (EPS) for the quarter were reported at $1.79, surpassing analysts’ estimates of $1.60 by $0.19. Micron Technology’s return on equity was 8.32%, with a net margin of 13.34%. Revenue for the quarter was $8.71 billion, meeting analyst estimates. The EPS for the same period in the prior year was a loss of $0.95. Year-over-year, the business’s revenue increased by 84.3%. Analysts currently project earnings per share (EPS) of $6.08 for the current fiscal year.
Dividend and Insider Activity
Micron Technology declared a quarterly dividend, distributed on January 15th, with investors of record on December 30th receiving $0.115 per share. The ex-dividend date was December 30th. This represents an annualized dividend of $0.46 and a yield of 0.48%. The payout ratio is currently 13.26%.
In related news, recent insider activity has been reported. Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock on March 3rd at an average price of $92.93, resulting in a transaction value of $223,403.72. After the transaction, the director’s holdings total 27,358 shares, valued at $2,542,378.94. EVP April S. Arnzen sold 4,890 shares of the company’s stock on December 20th. The shares were sold at an average price of $85.21, for a total transaction of $416,676.90. Following the completion of the sale, the executive vice president holds 181,223 shares valued at $15,442,011.83.
About Micron Technology
Micron Technology, Inc. designs, develops, manufactures, and sells memory and storage products globally. The company operates through four segments which include: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. Micron supplies memory and storage technologies including dynamic random access memory semiconductor devices, non-volatile and re-writable semiconductor storage devices, and non-volatile re-writable semiconductor memory devices under the Micron and Crucial brands, and through private labels.
