Grand Alliance Asset Management Ltd Purchases New Stake in Micron Technology, Inc. $MU

Key Points

• Grand Alliance Asset Management Ltd acquired a new stake in Micron Technology, purchasing 152,000 shares valued at approximately $13.2 million, making it the second largest holding in their portfolio.
• Micron Technology reported $1.91 EPS for the last quarter, exceeding the consensus estimate of $1.57, and had revenue of $9.30 billion, above expectations of $8.83 billion.
• Several analysts upgraded their price targets for Micron Technology, with estimates ranging as high as $200.00, amid strong institutional interest and recent performance improvements.

Grand Alliance Asset Management Ltd purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 152,000 shares of the semiconductor manufacturer's stock, valued at approximately $13,207,000. Micron Technology comprises 15.3% of Grand Alliance Asset Management Ltd's holdings, making the stock its 2nd biggest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings 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 valued at $8,854,644,000 after buying an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after buying an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Micron Technology by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after buying an additional 58,285 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after buying an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Micron Technology by 0.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock worth $379,417,000 after purchasing an additional 17,970 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of MU stock opened at $119.01 on Friday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The company's 50-day moving average is $118.17 and its 200 day moving average is $100.88. The company has a market capitalization of $133.19 billion, a price-to-earnings ratio of 21.44 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the prior year, the firm posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on MU shares. CLSA started coverage on shares of Micron Technology in a report on Wednesday. They issued an "outperform" rating and a $155.00 price objective for the company. TD Cowen upped their price objective on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price target on shares of Micron Technology in a research note on Monday, August 11th. Wall Street Zen upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Finally, Raymond James Financial increased their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $147.54.

Insider Activity

In other news, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction dated 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 sale, the executive vice president owned 201,326 shares of the company's stock, valued at $25,264,399.74. This trade represents a 31.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director directly owned 22,762 shares in the company, valued at approximately $2,848,664.30. The trade was a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,042 shares of company stock worth $34,679,277. 0.30% of the stock is owned by corporate insiders.

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.

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