Allspring Global Investments Holdings LLC Reduces Holdings in Micron Technology, Inc. $MU

Key Points

• Allspring Global Investments Holdings LLC reduced its holdings in Micron Technology by 5.3%, owning approximately 709,727 shares valued at $85.8 million after selling 39,525 shares in the 2nd quarter.
• Micron Technology reported $2.86 earnings per share (EPS), meeting analysts' expectations, and its revenue increased by 46.1% compared to the same quarter last year.
• The company announced a quarterly dividend of $0.115 per share, which will be paid on October 21st, with an annualized yield of 0.2%.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 709,727 shares of the semiconductor manufacturer's stock after selling 39,525 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.06% of Micron Technology worth $85,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the business. SPC Financial Inc. increased its holdings in Micron Technology by 4.2% during the 2nd quarter. SPC Financial Inc. now owns 4,967 shares of the semiconductor manufacturer's stock valued at $612,000 after acquiring an additional 200 shares in the last quarter. CWM LLC increased its holdings in Micron Technology by 233.5% during the 2nd quarter. CWM LLC now owns 111,233 shares of the semiconductor manufacturer's stock valued at $13,709,000 after acquiring an additional 77,881 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its holdings in Micron Technology by 13.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 130,204 shares of the semiconductor manufacturer's stock valued at $16,048,000 after acquiring an additional 14,948 shares in the last quarter. Sovereign Financial Group Inc. increased its holdings in Micron Technology by 19.5% during the 2nd quarter. Sovereign Financial Group Inc. now owns 9,031 shares of the semiconductor manufacturer's stock valued at $1,113,000 after acquiring an additional 1,476 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its holdings in Micron Technology by 39.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 17,968 shares of the semiconductor manufacturer's stock valued at $2,215,000 after acquiring an additional 5,077 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Micron Technology stock opened at $192.77 on Tuesday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $201.00. The firm has a 50 day moving average price of $144.50 and a 200 day moving average price of $114.89. The company has a market cap of $216.38 billion, a price-to-earnings ratio of 25.40, a PEG ratio of 0.40 and a beta of 1.56. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.86. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The firm had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the previous year, the firm earned $1.18 earnings per share. Micron Technology's revenue was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be issued a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Friday, October 3rd. Micron Technology's payout ratio is presently 6.06%.

Insider Activity at Micron Technology

In related news, CEO Sanjay Mehrotra sold 21,563 shares of the business's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $188.47, for a total value of $4,063,978.61. Following the completion of the sale, the chief executive officer directly owned 272,648 shares in the company, valued at approximately $51,385,968.56. The trade was a 7.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the business's stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the completion of the sale, the director owned 96,031 shares of the company's stock, valued at approximately $14,950,106.08. The trade was a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,956 shares of company stock worth $22,841,025. 0.30% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. KeyCorp raised their target price on shares of Micron Technology from $160.00 to $215.00 and gave the company an "overweight" rating in a report on Wednesday, September 24th. The Goldman Sachs Group lifted their price target on shares of Micron Technology from $145.00 to $180.00 and gave the stock a "neutral" rating in a report on Thursday, October 9th. Itau BBA Securities started coverage on shares of Micron Technology in a report on Tuesday, October 7th. They set an "outperform" rating and a $249.00 price target for the company. Cantor Fitzgerald lifted their price target on shares of Micron Technology from $185.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, September 24th. Finally, Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Four investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Micron Technology presently has an average rating of "Buy" and an average price target of $194.57.

Micron Technology Company Profile

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.

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