Polar Asset Management Partners Inc. Takes Position in Micron Technology, Inc. $MU

Key Points

• Polar Asset Management Partners Inc. has acquired 59,619 shares of Micron Technology, valued at approximately $5.18 million, indicating institutional interest in the semiconductor sector.
• Executives at Micron have sold a total of 264,884 shares worth about $32.36 million in the past 90 days, representing significant insider trading activity.
• Micron Technology's stock recently reported a 5.8% increase, with a current market cap of $147.02 billion and earnings per share of $1.91 for the last quarter, exceeding analysts' expectations.

Polar Asset Management Partners Inc. purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 59,619 shares of the semiconductor manufacturer's stock, valued at approximately $5,180,000.

Several other hedge funds have also added to or reduced their stakes in MU. Vanguard Group Inc. increased its position in shares of Micron Technology by 2.1% in the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after acquiring an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after acquiring an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Micron Technology by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after acquiring an additional 58,285 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Micron Technology by 26.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after acquiring an additional 1,416,174 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of Micron Technology by 0.4% in the first 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 period. 80.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president owned 201,326 shares in the company, valued at approximately $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 quarter, insiders have sold 264,884 shares of company stock valued at $32,363,889. Insiders own 0.30% of the company's stock.

Micron Technology Stock Up 5.8%

MU traded up $7.16 during midday trading on Friday, reaching $131.37. The company's stock had a trading volume of 28,358,729 shares, compared to its average volume of 16,799,084. The firm has a market capitalization of $147.02 billion, a price-to-earnings ratio of 23.67 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $131.41. The stock's 50-day moving average is $117.85 and its 200-day moving average is $101.67.

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

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio is 8.29%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on MU shares. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price objective on shares of Micron Technology in a research report on Monday, August 11th. JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a research report on Tuesday, August 12th. Morgan Stanley boosted their price target on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Wall Street Zen raised Micron Technology from a "buy" rating to a "strong-buy" rating in a research report on Friday. Finally, Raymond James Financial lifted their price objective on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Two 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 company. According to data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $147.54.

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.