Gateway Investment Advisers LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,828 shares of the semiconductor manufacturer's stock after selling 22,480 shares during the quarter. Gateway Investment Advisers LLC's holdings in Micron Technology were worth $20,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently bought and sold shares of MU. Nuveen LLC purchased a new position in shares of Micron Technology in the 1st quarter worth about $369,191,000. Vanguard Group Inc. boosted its holdings in shares of Micron Technology by 2.1% in 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 last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after buying an additional 2,038,641 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Micron Technology by 10,369.6% in the 1st quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer's stock worth $162,783,000 after buying an additional 1,855,541 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Micron Technology by 26.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after buying an additional 1,416,174 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
MU has been the topic of a number of research analyst reports. Barclays boosted their price target on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. 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. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price target on shares of Micron Technology in a report on Monday, August 11th. The Goldman Sachs Group initiated coverage on shares of Micron Technology in a report on Thursday, July 10th. They issued a "neutral" rating and a $130.00 price target on the stock. Finally, Erste Group Bank initiated coverage on shares of Micron Technology in a report on Thursday, August 14th. They set a "buy" rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $157.24.
Get Our Latest Stock Report on MU
Micron Technology Stock Up 0.7%
MU stock opened at $158.82 on Wednesday. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company's 50 day moving average is $121.38 and its 200 day moving average is $104.16. The stock has a market cap of $177.74 billion, a price-to-earnings ratio of 28.62 and a beta of 1.47. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $160.34.
Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the prior year, the business earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Investors 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 was Monday, July 7th. Micron Technology's dividend payout ratio is 8.29%.
Insider Buying and Selling
In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was 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 owned 264,036 shares of the company's stock, valued at $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders sold 268,446 shares of company stock valued at $33,055,075 in the last 90 days. 0.30% of the stock is owned by company insiders.
About Micron Technology
(
Free Report)
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.
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