Balefire LLC Trims Stock Holdings in Micron Technology, Inc. $MU

Key Points

• Balefire LLC reduced its stake in Micron Technology by 37.9% during the second quarter, now holding 9,407 shares worth approximately $1,159,000.
• Insider selling occurred recently, with EVP April S. Arnzen and CFO Mark J. Murphy selling a combined total of 49,000 shares, reflecting a decrease in their respective ownerships.
• Micron Technology reported earnings of $1.91 per share for the last quarter, exceeding analysts' expectations of $1.57, and announced a quarterly dividend of $0.115 per share.

Balefire LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 37.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,407 shares of the semiconductor manufacturer's stock after selling 5,747 shares during the quarter. Balefire LLC's holdings in Micron Technology were worth $1,159,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after buying an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Micron Technology by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after buying an additional 58,285 shares in the last quarter. Dimensional Fund Advisors LP grew its stake 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 buying an additional 1,416,174 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Micron Technology by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock valued at $379,417,000 after buying an additional 17,970 shares during the period. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction that occurred on 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total value of $3,716,880.00. Following the sale, the chief financial officer directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 268,446 shares of company stock worth $33,055,075. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $158.82 on Wednesday. The firm's fifty day simple moving average is $121.38 and its 200-day simple moving average is $104.16. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $160.34. The stock has a market capitalization of $177.74 billion, a price-to-earnings ratio of 28.62 and a beta of 1.47. 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 issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter in the prior year, the business earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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 dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MU shares. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 target price on shares of Micron Technology in a research report on Monday, August 11th. UBS Group upped their target price on shares of Micron Technology from $155.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday. Bank of America increased their target price on shares of Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. CLSA initiated coverage on Micron Technology in a research report on Wednesday, August 27th. They set an "outperform" rating and a $155.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Micron Technology from $150.00 to $175.00 and gave the company a "buy" rating in a report on Monday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $157.24.

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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