Guggenheim Capital LLC Sells 28,822 Shares of Micron Technology, Inc. $MU

Key Points

• Guggenheim Capital LLC reduced its stake in Micron Technology, Inc. by 6.5%, now owning 412,111 shares, valued at approximately $35.8 million.
• Several hedge funds, including Ceredex Value Advisors LLC, increased their holdings significantly, with Ceredex raising its stake by 57.9% during the same period.
• Micron Technology reported $1.91 EPS for the last quarter, exceeding estimates, and has analysts predicting a Moderate Buy consensus rating with an average target price of $147.24.

Guggenheim Capital LLC lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.5% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 412,111 shares of the semiconductor manufacturer's stock after selling 28,822 shares during the quarter. Guggenheim Capital LLC's holdings in Micron Technology were worth $35,808,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the 1st quarter valued at about $33,000. AllSquare Wealth Management LLC increased its position in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology during the 1st quarter valued at about $36,000. Finally, Roxbury Financial LLC increased its position in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MU shares. CLSA started coverage on shares of Micron Technology in a research report on Wednesday. They set an "outperform" rating and a $155.00 price target for the company. Arete Research raised shares of Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Mizuho increased their target price on shares of Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a report on Thursday, June 5th. JPMorgan Chase & Co. increased their target price on shares of Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Finally, KeyCorp increased their target price on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $147.54.

Insider Activity

In related news, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction 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 in the company, valued at $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the sale, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 286,042 shares of company stock worth $34,679,277. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

MU traded up $4.25 during trading on Thursday, reaching $122.00. 17,265,427 shares of the company traded hands, compared to its average volume of 18,692,428. 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 12-month low of $61.54 and a 12-month high of $129.85. The firm has a fifty day simple moving average of $118.26 and a 200 day simple moving average of $100.71. The company has a market cap of $136.53 billion, a P/E ratio of 21.98 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same period in the prior year, the company earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given 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 was Monday, July 7th. Micron Technology's dividend payout ratio is currently 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.