Atalanta Sosnoff Capital LLC Purchases 248,716 Shares of Micron Technology, Inc. $MU

Key Points

• Atalanta Sosnoff Capital LLC increased its holdings in Micron Technology by 85.4%, owning 539,999 shares worth approximately $46.9 million after buying 248,716 shares in the first quarter.
• Several institutional investors have also increased their stakes in Micron Technology, with a reported 80.84% of the stock currently owned by hedge funds and other institutional investors.
• Wall Street analysts maintain a generally positive outlook for Micron Technology, with an average target price of $147.54 and multiple "buy" ratings from prominent firms such as UBS and JPMorgan Chase.

Atalanta Sosnoff Capital LLC boosted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 85.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 539,999 shares of the semiconductor manufacturer's stock after buying an additional 248,716 shares during the period. Atalanta Sosnoff Capital LLC's holdings in Micron Technology were worth $46,921,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its stake in shares of Micron Technology by 18.3% during the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after purchasing an additional 13,985 shares in the last quarter. Aptus Capital Advisors LLC raised its stake in shares of Micron Technology by 36.0% during the fourth quarter. Aptus Capital Advisors LLC now owns 11,596 shares of the semiconductor manufacturer's stock valued at $976,000 after purchasing an additional 3,072 shares in the last quarter. Baird Financial Group Inc. raised its stake in shares of Micron Technology by 6.3% during the fourth quarter. Baird Financial Group Inc. now owns 175,886 shares of the semiconductor manufacturer's stock valued at $14,803,000 after purchasing an additional 10,453 shares in the last quarter. Finally, Castlekeep Investment Advisors LLC acquired a new position in Micron Technology during the fourth quarter worth about $227,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction dated 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 owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 264,884 shares of company stock worth $32,363,889 over the last quarter. Insiders own 0.30% of the company's stock.

Micron Technology Stock Up 5.8%

NASDAQ MU traded up $7.16 during trading on Friday, reaching $131.37. 28,358,729 shares of the company's stock were exchanged, compared to its average volume of 16,826,394. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $131.41. The firm has a market capitalization of $147.02 billion, a PE ratio of 23.67 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company's fifty day simple moving average is $117.85 and its 200-day simple moving average is $101.70.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the company posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts predict 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. Stockholders of record on Monday, July 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's payout ratio is currently 8.29%.

Analyst Ratings Changes

A number of research firms recently issued reports on MU. Cantor Fitzgerald lifted their target price on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Erste Group Bank began coverage on Micron Technology in a report on Thursday, August 14th. They set a "buy" rating on the stock. JPMorgan Chase & Co. lifted their target price on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Susquehanna lifted their target price on Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Micron Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $150.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $147.54.

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.