Banco BTG Pactual S.A. Acquires New Stake in Micron Technology, Inc. $MU

Key Points

• Banco BTG Pactual disclosed a new fourth-quarter stake in Micron Technology, buying 3,022 shares valued at about $863,000.
• Micron reported strong quarterly results, with EPS of $12.20 and revenue of $23.86 billion, both well above analyst expectations. Revenue also surged 196% year over year.
• Wall Street remains broadly positive on Micron, with analysts lifting price targets and the stock benefiting from AI-memory demand; the consensus rating is Buy with an average price target of $737.63.

Banco BTG Pactual S.A. acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,022 shares of the semiconductor manufacturer's stock, valued at approximately $863,000.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock valued at $30,427,016,000 after buying an additional 1,954,644 shares during the period. State Street Corp boosted its stake in Micron Technology by 0.6% during the third quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer's stock valued at $8,643,613,000 after buying an additional 285,582 shares during the period. Capital International Investors boosted its stake in Micron Technology by 0.7% during the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock valued at $3,910,198,000 after buying an additional 155,860 shares during the period. Norges Bank bought a new stake in Micron Technology during the fourth quarter valued at $6,433,456,000. Finally, Invesco Ltd. boosted its stake in Micron Technology by 8.0% during the third quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer's stock valued at $1,609,981,000 after buying an additional 708,716 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Up 11.7%

MU opened at $995.87 on Friday. The company has a market cap of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16. The business's 50-day moving average price is $665.31 and its 200-day moving average price is $459.87. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,089.29.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. The firm had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company's quarterly revenue was up 196 on a year-over-year basis. During the same quarter in the previous year, the business earned $1.56 earnings per share. On average, equities analysts expect that Micron Technology, Inc. will post 59.23 EPS for the current year.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a $0.15 dividend. This is an increase from Micron Technology's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology's dividend payout ratio (DPR) is presently 2.83%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on MU shares. UBS Group lifted their price objective on Micron Technology from $535.00 to $1,625.00 and gave the company a "buy" rating in a research note on Tuesday, May 26th. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price objective on shares of Micron Technology in a research note on Monday, March 16th. Royal Bank Of Canada raised their price target on Micron Technology from $425.00 to $525.00 and gave the company an "outperform" rating in a research report on Monday, March 16th. Wedbush raised their price target on Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, March 13th. Finally, Erste Group Bank downgraded Micron Technology from a "buy" rating to a "hold" rating in a research report on Thursday, April 2nd. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $737.63.

Insider Buying and Selling

In other news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the transaction, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 146,000 shares of company stock worth $85,486,715 in the last ninety days. Corporate insiders own 0.24% of the company's stock.

Key Stories Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.