Ally Financial Inc. Cuts Stock Position in Micron Technology, Inc. $MU

Key Points

• Ally Financial Inc. reduced its stake in Micron Technology by 45%, holding 11,000 shares worth $956,000 after selling 9,000 shares in the 1st quarter.
• Several institutional investors, including Nuveen LLC and Goldman Sachs, increased their holdings in Micron, with hedge funds and other institutional investors owning 80.84% of the stock.
• Analysts have recently raised their price targets for Micron Technology shares, with KeyCorp setting a new target of $160.00 and Wells Fargo raising theirs to $170.00, reflecting strong market interest.

Ally Financial Inc. trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 45.0% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,000 shares of the semiconductor manufacturer's stock after selling 9,000 shares during the quarter. Ally Financial Inc.'s holdings in Micron Technology were worth $956,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of MU. Nuveen LLC bought a new stake in shares of Micron Technology during the first quarter worth $369,191,000. Vanguard Group Inc. lifted its position in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings 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 in the last quarter. GAMMA Investing LLC raised its holdings in shares of Micron Technology by 10,369.6% in the first quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer's stock valued at $162,783,000 after acquiring an additional 1,855,541 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings 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 in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares of the company's stock, valued at $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,042 shares of company stock valued at $34,679,277 in the last three months. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on MU shares. KeyCorp boosted their target price on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. TD Cowen boosted their price target on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Wells Fargo & Company boosted their price target on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Robert W. Baird boosted their price target on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Finally, Piper Sandler boosted their price target on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.24.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $117.68 on Friday. The business's 50 day moving average price is $118.48 and its 200 day moving average price is $100.09. The firm has a market cap of $131.70 billion, a P/E ratio of 21.20 and a beta of 1.37. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion for 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 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, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

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

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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