Brandes Investment Partners LP Has $168.77 Million Stock Holdings in Micron Technology, Inc. $MU

Key Points

• Brandes Investment Partners LP cut its Micron stake by 30.5% in the fourth quarter, but still held 591,323 shares worth about $168.77 million at the end of the period.
• Micron reported a strong quarter, with EPS of $12.20 and revenue of $23.86 billion, both well above analyst expectations and sharply higher than a year earlier.
• Wall Street remains bullish on the stock: several analysts raised price targets, and the consensus rating on Micron is still Buy with an average target of $690.97.

Brandes Investment Partners LP trimmed its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 591,323 shares of the semiconductor manufacturer's stock after selling 259,096 shares during the quarter. Micron Technology accounts for 1.3% of Brandes Investment Partners LP's holdings, making the stock its 24th biggest holding. Brandes Investment Partners LP owned 0.05% of Micron Technology worth $168,773,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MU. REAP Financial Group LLC acquired a new position in Micron Technology in the 3rd quarter valued at $25,000. High Note Wealth LLC grew its holdings in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 34 shares in the last quarter. Elevation Wealth Partners LLC grew its holdings in Micron Technology by 295.8% in the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after buying an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. grew its holdings in Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 96 shares in the last quarter. Finally, GHP Investment Advisors Inc. grew its holdings in Micron Technology by 91.2% in the 4th quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock valued at $31,000 after buying an additional 52 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of MU stock opened at $935.89 on Wednesday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,089.29. The company has a market cap of $1.06 trillion, a P/E ratio of 44.19 and a beta of 2.16. The business has a fifty day simple moving average of $640.73 and a 200 day simple moving average of $449.45.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. During the same period in the prior year, the company earned $1.56 EPS. Micron Technology's revenue for the quarter was up 196 on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 58.79 EPS for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's dividend payout ratio is currently 2.83%.

Insiders Place Their Bets

In related news, Director Steven J. Gomo sold 2,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 146,000 shares of company stock valued at $85,486,715 in the last quarter. Corporate insiders own 0.24% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Micron Technology in a report on Tuesday, May 12th. DA Davidson began coverage on Micron Technology in a report on Monday, May 11th. They issued a "buy" rating and a $1,000.00 price objective on the stock. Mizuho upped their target price on Micron Technology to $800.00 and gave the company an "outperform" rating in a research report on Tuesday, May 19th. Susquehanna upped their target price on Micron Technology from $600.00 to $1,750.00 and gave the company a "positive" rating in a research report on Friday, May 29th. Finally, TD Cowen upped their target price on Micron Technology from $550.00 to $660.00 and gave the company a "buy" rating in a research report on Tuesday, April 28th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $690.97.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Wells Fargo raised its price target on Micron to $1,220 from $550 and maintained an overweight rating, while Cantor Fitzgerald lifted its target to $1,500, reinforcing Wall Street optimism on the company’s AI-memory growth outlook.
• Positive Sentiment: Analysts and market commentary continue to highlight a memory-chip supercycle, with long-term supply agreements and sustained AI infrastructure demand supporting Micron’s revenue and earnings potential.
• Positive Sentiment: Micron appointed Dr. Alexis Black Björlin to its board of directors, adding leadership experience in AI infrastructure, cloud platforms, and semiconductors that could strengthen strategic execution. Article Title
• Neutral Sentiment: Micron’s recent rally and extreme volatility have made the stock sensitive to any sign of weakness, and several articles noted that earnings on June 24 could either validate the AI-memory thesis or trigger a pullback if expectations are not met.
• Negative Sentiment: Short-term sentiment was also hit by a broader chip-sector correction, with memory and storage stocks falling together as investors reassessed the pace of the AI-driven advance.
• Negative Sentiment: Some commentary warned Micron’s valuation and recent gains may have moved too far too fast, making the stock vulnerable to profit-taking or disappointment if growth assumptions cool.

Micron Technology Company Profile

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.

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