Absolute Gestao de Investimentos Ltda. Makes New $450,000 Investment in Micron Technology, Inc. $MU

Key Points

• Absolute Gestao de Investimentos Ltda. purchased a new stake in Micron Technology, acquiring 5,183 shares valued at approximately $450,000 during the first quarter.
• Institutional investors, including Vanguard Group and Goldman Sachs, have increased their holdings in Micron Technology, indicating strong interest from major financial players.
• Micron Technology recently reported $1.91 EPS for the quarter, exceeding expectations and showcasing a positive financial outlook with revenue of $9.30 billion.

Absolute Gestao de Investimentos Ltda. purchased 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 filing with the SEC. The fund purchased 5,183 shares of the semiconductor manufacturer's stock, valued at approximately $450,000.

A number of other hedge funds have also modified their holdings of MU. Brighton Jones LLC increased its holdings in shares of Micron Technology by 18.3% in the fourth 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. Bank Pictet & Cie Europe AG increased its holdings in shares of Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after purchasing an additional 13,985 shares during the period. Jump Financial LLC increased its holdings in shares of Micron Technology by 43.3% in the fourth quarter. Jump Financial LLC now owns 5,975 shares of the semiconductor manufacturer's stock valued at $503,000 after purchasing an additional 1,804 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Micron Technology by 15.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,383,878 shares of the semiconductor manufacturer's stock worth $453,215,000 after buying an additional 737,882 shares during the last quarter. Finally, Norinchukin Bank The boosted its stake in shares of Micron Technology by 6.4% in the fourth quarter. Norinchukin Bank The now owns 57,300 shares of the semiconductor manufacturer's stock worth $4,822,000 after buying an additional 3,444 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on MU. Arete Research upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Raymond James Financial upped their target price on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. upped their target price on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Piper Sandler upped their target price on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Citigroup upped their price target on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.24.

Micron Technology Price Performance

NASDAQ:MU traded down $1.50 during trading hours on Tuesday, hitting $122.05. 11,435,941 shares of the stock were exchanged, compared to its average volume of 19,904,896. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $129.85. The firm's fifty day moving average price is $118.43 and its 200 day moving average price is $99.56. 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 has a market cap of $136.59 billion, a P/E ratio of 21.99 and a beta of 1.37.

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

Micron Technology Announces Dividend

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. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's payout ratio is presently 8.29%.

Insider Activity

In related news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president owned 201,326 shares in the company, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the completion of the sale, the director owned 22,550 shares of the company's stock, valued at $2,734,864. This trade represents a 9.63% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 286,042 shares of company stock worth $34,679,277. 0.30% of the stock is owned by company insiders.

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.