KADENSA CAPITAL Ltd Purchases Shares of 295,979 Micron Technology, Inc. $MU

Key Points

• KADENSA CAPITAL Ltd has invested approximately $25.72 million in Micron Technology by acquiring 295,979 shares, making it the firm's fourth largest position at around 3.2% of its portfolio.
• Insider activity at Micron Technology includes CFO Mark J. Murphy and EVP Sumit Sadana selling significant shares, indicating a decrease in their positions of 11.41% and 31.51%, respectively.
• Micron Technology's stock has received multiple upgrades from analysts recently, with UBS Group and TD Cowen boosting their target prices, reinforcing a consensus rating of "Moderate Buy" for the stock.

KADENSA CAPITAL Ltd acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 295,979 shares of the semiconductor manufacturer's stock, valued at approximately $25,718,000. Micron Technology accounts for about 3.2% of KADENSA CAPITAL Ltd's investment portfolio, making the stock its 4th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in MU. Brighton Jones LLC increased its holdings in Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Micron Technology by 19.5% during the 4th 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 in the last quarter. Cary Street Partners Financial LLC purchased a new position in shares of Micron Technology during the 4th quarter worth approximately $1,128,000. Captrust Financial Advisors increased its stake in shares of Micron Technology by 18.8% during the 4th quarter. Captrust Financial Advisors now owns 39,810 shares of the semiconductor manufacturer's stock worth $3,350,000 after purchasing an additional 6,306 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Micron Technology by 1.2% in the fourth quarter. Cetera Investment Advisers now owns 232,234 shares of the semiconductor manufacturer's stock valued at $19,545,000 after purchasing an additional 2,641 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Insiders Place Their Bets

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. This represents a 23.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the transaction, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,884 shares of company stock worth $32,363,889 in the last quarter. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on MU shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $150.00 price objective for the company. Susquehanna boosted their price objective on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a report on Thursday, June 26th. Zacks Research upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. KGI Securities lowered shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 23rd. Finally, Raymond James Financial upped their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company 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 assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $147.54.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $7.16 during trading on Friday, reaching $131.37. The company had a trading volume of 28,358,729 shares, compared to its average volume of 16,826,394. The firm's fifty day moving average is $117.85 and its 200 day moving average is $101.68. The firm has a market capitalization of $147.02 billion, a PE ratio of 23.67 and a beta of 1.47. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $131.41. 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 released its earnings results 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 business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. 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. On average, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared 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 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio is 8.29%.

Micron Technology Company 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.