Crake Asset Management LLP Buys New Stake in Micron Technology, Inc. $MU

Key Points

• Crake Asset Management LLP has acquired 936,000 shares of Micron Technology, valued at approximately $81.3 million, making it the firm's fourth largest holding.
• Micron Technology reported earnings of $1.91 per share, exceeding analysts' expectations of $1.57, along with a revenue of $9.3 billion for the quarter.
• Recent insider transactions saw significant share sales by CFO Mark J. Murphy and EVP Manish H. Bhatia, indicating a decrease in their ownership of the company.

Crake Asset Management LLP purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 936,000 shares of the semiconductor manufacturer's stock, valued at approximately $81,329,000. Micron Technology accounts for 6.6% of Crake Asset Management LLP's holdings, making the stock its 4th largest position. Crake Asset Management LLP owned 0.08% of Micron Technology at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. UBS Group raised their target price on Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Citigroup lifted their price objective on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Susquehanna lifted their price objective on Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a research report on Thursday, June 26th. Erste Group Bank assumed coverage on Micron Technology in a research note on Thursday, August 14th. They set a "buy" rating on the stock. Finally, TD Cowen lifted their target price on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $147.54.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the transaction, the director owned 20,146 shares in the company, valued at approximately $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 264,884 shares of company stock valued at $32,363,889. 0.30% of the stock is owned by insiders.

Micron Technology Trading Up 5.8%

Shares of Micron Technology stock traded up $7.16 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 firm has a market cap of $147.02 billion, a price-to-earnings ratio of 23.67 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. The firm's 50-day moving average price is $117.85 and its two-hundred day moving average price is $101.68. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $131.41.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 13.60% and a net margin of 18.41%.During the same quarter in the previous year, the business earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, research analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. Micron Technology's dividend payout ratio is currently 8.29%.

About Micron Technology

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.