Belmont Capital LLC Makes New $565,000 Investment in Micron Technology, Inc. $MU

Key Points

• Belmont Capital LLC has made a $565,000 investment in Micron Technology, acquiring 6,500 shares during the first quarter.
• Micron Technology reported $1.91 EPS for its latest quarter, exceeding estimates and announcing $9.30 billion in revenue.
• Several analysts have upgraded Micron Technology's target price, with notable increases from Wedbush and Robert W. Baird, indicating a consensus rating of "Moderate Buy" among analysts.

Belmont Capital LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,500 shares of the semiconductor manufacturer's stock, valued at approximately $565,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after buying an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in Micron Technology by 23.8% during the 1st 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 in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Micron Technology by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock worth $602,917,000 after buying an additional 58,285 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after buying an additional 1,416,174 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Micron Technology by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock worth $379,417,000 after buying an additional 17,970 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Up 5.8%

Shares of NASDAQ MU traded up $7.16 during mid-day trading on Friday, reaching $131.37. The company had a trading volume of 28,358,729 shares, compared to its average volume of 16,826,394. 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 firm has a 50 day simple moving average of $117.85 and a two-hundred day simple moving average of $101.70. The stock has a market cap of $147.02 billion, a P/E ratio of 23.67 and a beta of 1.47. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $131.41.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the firm 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 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm 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 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Insider Activity at Micron Technology

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the transaction, the executive vice president directly owned 166,353 shares in the company, valued at $20,812,423.83. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 264,884 shares of company stock worth $32,363,889 in the last three months. Company insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

MU has been the topic of a number of analyst reports. Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Morgan Stanley raised their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Wells Fargo & Company raised their price objective on shares of Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Citigroup raised their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Wedbush raised their price objective on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average 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.