Ameriprise Financial Inc. Has $123.88 Million Position in Micron Technology, Inc. $MU

Key Points

• Ameriprise Financial Inc. reduced its stake in Micron Technology by 48.6%, holding 1,425,216 shares worth $123.88 million.
• Several institutional investors have recently adjusted their positions in Micron Technology, with 80.84% of the stock now owned by institutional investors and hedge funds.
• Micron Technology reported Q2 earnings of $1.91 per share, significantly beating estimates, and announced a quarterly dividend of $0.115 per share.

Ameriprise Financial Inc. decreased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 48.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,425,216 shares of the semiconductor manufacturer's stock after selling 1,349,463 shares during the period. Ameriprise Financial Inc. owned 0.13% of Micron Technology worth $123,880,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology during the 1st quarter worth about $33,000. AllSquare Wealth Management LLC raised its position in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of Micron Technology in the 1st quarter valued at about $36,000. Finally, Roxbury Financial LLC boosted its position in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director owned 22,762 shares in the company, valued at $2,848,664.30. The trade was a 23.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares of the company's stock, valued at $25,264,399.74. The trade was a 31.51% 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 worth $34,679,277 in the last ninety days. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Erste Group Bank initiated coverage on Micron Technology in a report on Thursday, August 14th. They issued a "buy" rating for the company. Stifel Nicolaus raised their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Citigroup lifted their price target on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Barclays upped their price objective on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Mizuho raised their target price on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $147.24.

Micron Technology Trading Up 1.6%

Shares of Micron Technology stock opened at $117.68 on Monday. The company has a market capitalization of $131.70 billion, a P/E ratio of 21.20 and a beta of 1.37. The stock has a fifty day simple moving average of $118.48 and a 200 day simple moving average of $100.13. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85. 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 (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 13.60% and a net margin of 18.41%.During the same period last year, the business earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Micron Technology 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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