Hosking Partners LLP Cuts Stock Position in Micron Technology, Inc. $MU

Key Points

• Hosking Partners LLP cut its Micron Technology stake by 38.7% in the fourth quarter, selling 240,382 shares and leaving it with 381,561 shares worth about $108.9 million. Micron still remains the fund’s third-largest holding at about 3.7% of the portfolio.
• Several other institutional investors adjusted their positions as well, while overall institutional ownership remains high at 80.84%. Meanwhile, Micron executives have been selling shares, including CEO Sanjay Mehrotra and EVP Sumit Sadana.
• Despite the selling, Micron’s stock is being supported by bullish AI-memory demand, a fresh 52-week high, and multiple analyst upgrades with an average “Buy” rating. The company also recently raised its quarterly dividend to $0.15 per share.

Hosking Partners LLP decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 38.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 381,561 shares of the semiconductor manufacturer's stock after selling 240,382 shares during the period. Micron Technology comprises approximately 3.7% of Hosking Partners LLP's portfolio, making the stock its 3rd biggest holding. Hosking Partners LLP's holdings in Micron Technology were worth $108,901,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in 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. Sivia Capital Partners LLC boosted its holdings in shares of Micron Technology by 21.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock valued at $435,000 after buying an additional 628 shares in the last quarter. United Bank bought a new stake in shares of Micron Technology during the 2nd quarter valued at $236,000. Schnieders Capital Management LLC. boosted its holdings in shares of Micron Technology by 67.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer's stock valued at $2,093,000 after buying an additional 6,867 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Micron Technology by 5.6% during the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock valued at $49,987,000 after buying an additional 21,619 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of the company's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 104,000 shares of company stock worth $45,458,400. 0.24% of the stock is owned by corporate insiders.

Key Stories Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
• Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
• Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What's Driving Micron and Sandisk Higher.
• Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness

Micron Technology Price Performance

Shares of MU stock opened at $746.33 on Monday. Micron Technology, Inc. has a twelve month low of $84.68 and a twelve month high of $747.21. The stock has a fifty day simple moving average of $435.84 and a two-hundred day simple moving average of $348.07. The stock has a market capitalization of $841.66 billion, a price-to-earnings ratio of 35.24 and a beta of 1.91. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were issued a $0.15 dividend. This is a boost from Micron Technology's previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology's dividend payout ratio is presently 2.83%.

Analyst Ratings Changes

MU has been the subject of several recent analyst reports. William Blair assumed coverage on Micron Technology in a research report on Thursday, January 22nd. They issued an "outperform" rating for the company. Wedbush increased their price objective on shares of Micron Technology from $320.00 to $500.00 and gave the stock an "outperform" rating in a research note on Friday, March 13th. The Goldman Sachs Group increased their price objective on shares of Micron Technology from $360.00 to $400.00 and gave the stock a "neutral" rating in a research note on Thursday, March 19th. Phillip Securities raised shares of Micron Technology to a "strong-buy" rating in a report on Monday, February 2nd. Finally, Cantor Fitzgerald increased their price objective on shares of Micron Technology from $450.00 to $700.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $478.24.

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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