Erste Asset Management GmbH Trims Stock Holdings in Micron Technology, Inc. $MU

Key Points

• Erste Asset Management GmbH significantly reduced its holdings in Micron Technology by selling 112,479 shares, leading to a 91% decrease in their position.
• Insider selling has recently occurred, with EVP April S. Arnzen and EVP Sumit Sadana selling a combined total of over 107,000 shares of Micron Technology stock.
• Analysts have raised target prices for Micron Technology, with new estimates up to $170.00, reflecting a positive outlook amid current market conditions.

Erste Asset Management GmbH cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 91.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,097 shares of the semiconductor manufacturer's stock after selling 112,479 shares during the period. Erste Asset Management GmbH's holdings in Micron Technology were worth $981,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after buying an additional 2,049,163 shares during the period. Northern Trust Corp grew its stake in 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 purchasing an additional 1,287,063 shares during the period. Goldman Sachs Group Inc. grew its stake in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Micron Technology by 0.8% in 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 purchasing an additional 58,285 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in 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 worth $590,807,000 after purchasing an additional 1,416,174 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president directly owned 186,353 shares in the company, valued at approximately $20,498,830. This represents a 9.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock valued at $34,679,277 in the last 90 days. Insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $1.89 during midday trading on Friday, reaching $117.68. 16,990,488 shares of the company's stock traded hands, compared to its average volume of 19,126,924. The company has a market cap of $131.70 billion, a price-to-earnings ratio of 21.20 and a beta of 1.37. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The stock has a 50 day moving average of $118.48 and a 200 day moving average of $100.09.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $8.83 billion. During the same quarter in the prior year, the company earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders 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 yield of 0.4%. Micron Technology's dividend payout ratio is currently 8.29%.

Analyst Upgrades and Downgrades

MU has been the topic of several recent research reports. KeyCorp upped their price target on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. The Goldman Sachs Group initiated coverage on Micron Technology in a research note on Thursday, July 10th. They issued a "neutral" rating and a $130.00 price target on the stock. Stifel Nicolaus upped their price target on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Arete Research raised Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price target on shares of Micron Technology in a research note on Monday, August 11th. Two analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus 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.