Allstate Corp Boosts Stake in Micron Technology, Inc. $MU

Key Points

• Allstate Corp increased its stake in Micron Technology by 19.3% during the first quarter, owning 39,232 shares valued at $3.41 million as of latest SEC filings.
• Several institutional investors also boosted their holdings in Micron, contributing to high ownership levels of 80.84% by institutional investors and hedge funds combined.
• Analysts have upgraded Micron Technology’s ratings, with price targets reaching as high as $170, reflecting positive sentiment for the stock's future performance.

Allstate Corp grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 19.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,232 shares of the semiconductor manufacturer's stock after acquiring an additional 6,341 shares during the period. Allstate Corp's holdings in Micron Technology were worth $3,409,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MU. Vanguard Group Inc. boosted its stake in 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 acquiring an additional 2,049,163 shares during the last quarter. Northern Trust Corp raised its stake in shares of Micron Technology by 13.7% in the 4th quarter. Northern Trust Corp now owns 10,712,056 shares of the semiconductor manufacturer's stock valued at $901,527,000 after purchasing an additional 1,287,063 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Micron Technology by 23.8% in 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Micron Technology by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock worth $602,917,000 after purchasing an additional 58,285 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in 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 worth $590,807,000 after purchasing an additional 1,416,174 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MU. Arete Research upgraded Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Wells Fargo & Company boosted their price target on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. KGI Securities cut Micron Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Susquehanna lifted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. Finally, Wedbush boosted their target price on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $147.24.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $117.68 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a market capitalization of $131.70 billion, a PE ratio of 21.20 and a beta of 1.37. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The business's fifty day moving average price is $118.48 and its two-hundred day moving average price is $100.04.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results 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 business had revenue of $9.30 billion during the quarter, compared to analyst estimates 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 firm earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

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

Insider Activity at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. The trade was a 23.52% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,042 shares of company stock valued at $34,679,277. Company 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.

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