Cresset Asset Management LLC Grows Stock Position in Micron Technology, Inc. $MU

Key Points

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Cresset Asset Management LLC raised its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 67.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,960 shares of the semiconductor manufacturer's stock after acquiring an additional 14,071 shares during the quarter. Cresset Asset Management LLC's holdings in Micron Technology were worth $3,042,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its stake 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 during the period. Northern Trust Corp grew its stake in shares of Micron Technology by 13.7% in the fourth quarter. Northern Trust Corp now owns 10,712,056 shares of the semiconductor manufacturer's stock worth $901,527,000 after acquiring an additional 1,287,063 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after acquiring an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Micron Technology by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock worth $602,917,000 after acquiring an additional 58,285 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Micron Technology by 26.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after acquiring an additional 1,416,174 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology Stock Performance

MU traded down $4.84 on Wednesday, reaching $117.21. The company had a trading volume of 25,753,237 shares, compared to its average volume of 23,004,834. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. The stock has a market capitalization of $131.17 billion, a PE ratio of 21.12 and a beta of 1.37. The stock has a 50-day moving average price of $118.43 and a 200-day moving average price of $99.56.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The company had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the company posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS 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. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director directly owned 22,762 shares in the company, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Sumit Sadana sold 92,638 shares of the company'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 completion of the sale, the executive vice president 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 disclosure for this sale can be found here. In the last three months, insiders sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Piper Sandler boosted their target price on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $150.00 target price on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $150.00 target price on shares of Micron Technology in a report on Monday, August 11th. Robert W. Baird boosted their price target on shares of Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a report on Friday, June 27th. Finally, Raymond James Financial increased their price objective on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $147.24.

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.