352,124 Shares in Micron Technology, Inc. $MU Bought by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC acquired a new position in Micron Technology, purchasing 352,124 shares valued at approximately $30.6 million.
• Micron Technology reported earnings of $1.91 per share, exceeding the consensus estimate, with quarterly revenue at $9.30 billion.
• The company has a new quarterly dividend of $0.115 per share, representing an annualized yield of 0.4%, reflecting its solid financial position.

Fred Alger Management LLC bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 352,124 shares of the semiconductor manufacturer's stock, valued at approximately $30,636,000.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after purchasing an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Micron Technology by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after purchasing an additional 58,285 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after purchasing an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in Micron Technology by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock valued at $379,417,000 after acquiring an additional 17,970 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 0.1%

Shares of MU traded up $0.09 during midday trading on Monday, reaching $131.46. 19,464,477 shares of the stock were exchanged, compared to its average volume of 16,799,084. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $132.26. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company's 50 day moving average is $118.01 and its two-hundred day moving average is $101.90. The company has a market capitalization of $147.12 billion, a P/E ratio of 23.69 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the prior year, the company earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. Micron Technology's dividend payout ratio is presently 8.29%.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Stifel Nicolaus upped their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. JPMorgan Chase & Co. upped their price objective on Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Piper Sandler upped their price objective on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Micron Technology in a research report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $147.54.

Insider Buying and Selling at Micron Technology

In other news, EVP April S. Arnzen sold 15,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 260,946 shares of company stock worth $31,927,244. Insiders own 0.30% of the company's stock.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.