Appaloosa LP Trims Stock Holdings in Micron Technology, Inc. $MU

Key Points

• Appaloosa LP significantly reduced its stake in Micron Technology, selling 800,000 shares and now holding 400,000 shares, valued at approximately $34.76 million.
• Institutional investors own approximately 80.84% of Micron Technology, with notable changes including a new position from Nuveen LLC valued at $369 million and increases in holdings by Vanguard and Goldman Sachs.
• Micron Technology's quarterly earnings surpassed expectations with $1.91 EPS, beating the estimate of $1.57, alongside a revenue of $9.30 billion against an expected $8.83 billion.

Appaloosa LP trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 66.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 400,000 shares of the semiconductor manufacturer's stock after selling 800,000 shares during the period. Micron Technology comprises 0.4% of Appaloosa LP's holdings, making the stock its 27th largest position. Appaloosa LP's holdings in Micron Technology were worth $34,756,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the 1st quarter worth about $33,000. AllSquare Wealth Management LLC increased its holdings in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased 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% in 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 during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 5.8%

Shares of NASDAQ MU traded up $7.16 during midday trading on Friday, reaching $131.37. 28,358,729 shares of the stock were exchanged, compared to its average volume of 16,799,084. The business has a 50-day simple moving average of $117.85 and a two-hundred day simple moving average of $101.67. The company has a market capitalization of $147.02 billion, a price-to-earnings ratio of 23.67 and a beta of 1.47. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $131.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping 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 net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the prior year, the business posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages recently weighed in on MU. Erste Group Bank assumed coverage on Micron Technology in a report on Thursday, August 14th. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Micron Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $150.00 target price on the stock. KeyCorp boosted their price objective on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. TD Cowen boosted their price objective on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, KGI Securities lowered Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $147.54.

Insiders Place Their Bets

In related news, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the sale, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 264,884 shares of company stock valued at $32,363,889. 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.