ICONIQ Capital LLC Grows Stock Position in Micron Technology, Inc. $MU

Key Points

• ICONIQ Capital LLC increased its stake in Micron Technology, Inc. by 143.3%, bringing its holdings to 6,735 shares worth $585,000.
• Micron Technology reported an EPS of $1.91 for the last quarter, exceeding analysts' estimates of $1.57, with a revenue of $9.30 billion.
• Several brokerages have elevated their price targets for Micron Technology, with Cantor Fitzgerald raising it from $145.00 to $155.00 and Rosenblatt Securities setting a target of $200.00.

ICONIQ Capital LLC raised its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 143.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,735 shares of the semiconductor manufacturer's stock after buying an additional 3,967 shares during the quarter. ICONIQ Capital LLC's holdings in Micron Technology were worth $585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MU. Brighton Jones LLC raised its stake 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 stake in shares of Micron Technology by 19.5% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after purchasing an additional 13,985 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Micron Technology by 5.8% in the fourth quarter. Coldstream Capital Management Inc. now owns 16,139 shares of the semiconductor manufacturer's stock worth $1,358,000 after purchasing an additional 887 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Micron Technology by 47.2% in the fourth quarter. The Manufacturers Life Insurance Company now owns 2,542,059 shares of the semiconductor manufacturer's stock worth $213,940,000 after purchasing an additional 815,304 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of Micron Technology by 13.7% in the fourth quarter. Northern Trust Corp now owns 10,712,056 shares of the semiconductor manufacturer's stock worth $901,527,000 after purchasing an additional 1,287,063 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $117.68 on Monday. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The company has a market cap of $131.70 billion, a price-to-earnings ratio of 21.20 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. The business's 50 day moving average price is $118.48 and its 200 day moving average price is $100.13.

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, topping 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 the consensus estimate of $8.83 billion. During the same quarter last year, the business posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology's payout ratio is currently 8.29%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MU. Cantor Fitzgerald lifted their price target on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price target on shares of Micron Technology in a research report on Monday, August 11th. Erste Group Bank began coverage on Micron Technology in a research report on Thursday, August 14th. They set a "buy" rating for the company. Robert W. Baird lifted their price target on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Finally, Mizuho lifted their price target on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $147.24.

Insider Buying and Selling

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction 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 sale, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $121.28, for a total transaction of $291,557.12. Following the transaction, the director directly owned 22,550 shares of the company's stock, valued at $2,734,864. The trade was a 9.63% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by company 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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