Micron Technology, Inc. $MU Shares Sold by GAMMA Investing LLC

Key Points

• GAMMA Investing LLC reduced its stake in Micron Technology by 13.5%, holding 18,651 shares worth approximately $2.3 million as of the last quarter.
• Insider transactions included CEO Sanjay Mehrotra selling 7,319 shares, and Director Steven J. Gomo selling 7,000 shares, indicating a decrease in their ownership.
• Micron Technology recently announced a quarterly dividend of $0.115 per share, with a yield of 0.3%, and a payout ratio of 8.29%.

GAMMA Investing LLC cut its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,651 shares of the semiconductor manufacturer's stock after selling 2,910 shares during the quarter. GAMMA Investing LLC's holdings in Micron Technology were worth $2,299,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of MU. Brighton Jones LLC grew its holdings in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after purchasing an additional 976 shares during the last quarter. Bank Pictet & Cie Europe AG raised its holdings in Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after buying an additional 13,985 shares during the period. Sunbelt Securities Inc. grew its position in shares of Micron Technology by 467.4% during the fourth quarter. Sunbelt Securities Inc. now owns 7,149 shares of the semiconductor manufacturer's stock worth $610,000 after buying an additional 5,889 shares in the last quarter. Formidable Asset Management LLC increased its stake in Micron Technology by 6.8% in the fourth quarter. Formidable Asset Management LLC now owns 5,107 shares of the semiconductor manufacturer's stock valued at $430,000 after purchasing an additional 325 shares during the last quarter. Finally, Castlekeep Investment Advisors LLC purchased a new position in shares of Micron Technology during the fourth quarter worth approximately $227,000. 80.84% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently commented on MU. Barclays lifted their price objective on Micron Technology from $140.00 to $175.00 and gave the stock an "overweight" rating in a research report on Friday. JPMorgan Chase & Co. upped their price objective on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. TD Cowen raised their target price on Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a research note on Friday. KeyCorp increased their price objective on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Wolfe Research lifted their price target on Micron Technology from $160.00 to $180.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and a consensus target price of $165.54.

Insider Activity

In other news, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 13,798 shares of the business's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the sale, the chief executive officer directly owned 325,148 shares in the company, valued at $52,739,005.60. This trade represents a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 290,946 shares of company stock worth $36,685,159. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

Micron Technology stock traded up $1.89 during trading on Monday, hitting $164.62. The stock had a trading volume of 25,713,979 shares, compared to its average volume of 20,882,956. 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 $170.45. The stock has a market cap of $184.23 billion, a price-to-earnings ratio of 29.66 and a beta of 1.47. The stock's 50 day moving average is $124.74 and its two-hundred day moving average is $106.27.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) 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 firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. During the same period last year, the firm earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend 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.