Atreides Management LP Has $77.32 Million Holdings in Micron Technology, Inc. $MU

Key Points

• Atreides Management LP significantly increased its stake in Micron Technology by 269.9%, acquiring an additional 649,253 shares, bringing its total holdings to 889,842 shares.
• Insider transactions included sales by the Director and CFO, with the Director selling 7,000 shares and the CFO selling 34,000 shares, resulting in decreases to their respective stock positions.
• Micron Technology reported earnings of $1.91 per share for the most recent quarter, surpassing analysts’ expectations and setting a positive outlook for the upcoming fiscal year.

Atreides Management LP lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 269.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 889,842 shares of the semiconductor manufacturer's stock after buying an additional 649,253 shares during the period. Micron Technology comprises 2.3% of Atreides Management LP's holdings, making the stock its 14th largest position. Atreides Management LP owned 0.08% of Micron Technology worth $77,318,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. D.B. Root & Company LLC increased its position in shares of Micron Technology by 3.7% in the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after acquiring an additional 108 shares during the last quarter. Orca Wealth Management LLC boosted its holdings in shares of Micron Technology by 1.5% during the first quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer's stock worth $737,000 after acquiring an additional 129 shares during the period. Sunpointe LLC raised its position in shares of Micron Technology by 4.0% in the first quarter. Sunpointe LLC now owns 3,443 shares of the semiconductor manufacturer's stock valued at $300,000 after buying an additional 131 shares in the last quarter. Foundations Investment Advisors LLC raised its position in shares of Micron Technology by 2.1% in the first quarter. Foundations Investment Advisors LLC now owns 6,561 shares of the semiconductor manufacturer's stock valued at $570,000 after buying an additional 138 shares in the last quarter. Finally, Allen Capital Group LLC raised its position in shares of Micron Technology by 3.2% in the first quarter. Allen Capital Group LLC now owns 4,460 shares of the semiconductor manufacturer's stock valued at $388,000 after buying an additional 139 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Up 0.2%

Shares of MU stock traded up $0.24 on Wednesday, reaching $118.72. 11,621,037 shares of the company were exchanged, compared to its average volume of 16,995,496. The company has a market cap of $132.86 billion, a price-to-earnings ratio of 21.39 and a beta of 1.47. The company has a 50-day moving average of $117.75 and a 200-day moving average of $101.36. 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, Inc. has a one year low of $61.54 and a one year high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data 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 company had revenue of $9.30 billion for the quarter, compared to analysts' expectations 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 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

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

Insider Activity at Micron Technology

In related news, CFO Mark J. Murphy sold 34,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the sale, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. This represents a 9.19% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 286,042 shares of company stock worth $34,679,277. 0.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have commented on MU. Rosenblatt Securities restated a "buy" rating and set a $200.00 price objective on shares of Micron Technology in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 price target for the company. Mizuho upped their price target on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. Erste Group Bank initiated coverage on shares of Micron Technology in a report on Thursday, August 14th. They set a "buy" rating for the company. Finally, The Goldman Sachs Group assumed coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $130.00 price target for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and a consensus target price of $147.54.

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.