BI Asset Management Fondsmaeglerselskab A S Sells 340,743 Shares of Micron Technology, Inc. $MU

Key Points

• BI Asset Management Fondsmaeglerselskab A S sold 340,743 shares of Micron Technology, reducing its position by 86.3% during the 1st quarter, leaving them with 54,231 shares worth $4.7 million.
• Micron Technology's stock has seen significant analyst interest, with multiple upgrades including a "buy" rating and a target price increase from $135 to $160 by KeyCorp.
• Insider trading activity has been notable, with CFO Mark J. Murphy and EVP Manish H. Bhatia selling a combined total of 114,000 shares recently, indicating changes in ownership levels within the company.

BI Asset Management Fondsmaeglerselskab A S reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 86.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,231 shares of the semiconductor manufacturer's stock after selling 340,743 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Micron Technology were worth $4,712,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC lifted its stake in Micron Technology by 100.0% during the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new stake in Micron Technology during the first quarter worth $36,000. Finally, Roxbury Financial LLC boosted its holdings in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on MU. Erste Group Bank assumed coverage on Micron Technology in a report on Thursday, August 14th. They set a "buy" rating for the company. KeyCorp boosted their target price on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. TD Cowen lifted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Micron Technology presently has an average rating of "Moderate Buy" and an average price target of $147.24.

Insider Transactions at Micron Technology

In related news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 264,036 shares of the company's stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 286,042 shares of company stock worth $34,679,277. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Down 4.0%

NASDAQ:MU opened at $117.21 on Thursday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company has a market cap of $131.17 billion, a PE ratio of 21.12 and a beta of 1.37. The firm's 50 day simple moving average is $118.45 and its 200 day simple moving average is $99.68.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion during 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 period in the prior year, the company posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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

Micron Technology 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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