Meiji Yasuda Life Insurance Co Lowers Position in Micron Technology, Inc. $MU

Key Points

• Meiji Yasuda Life Insurance Co reduced its holdings in Micron Technology by 30.5%, now owning 92,837 shares valued at approximately $8.07 million.
• Micron Technology reported $1.91 EPS for the quarter, exceeding estimates of $1.57, with a revenue of $9.30 billion compared to expectations of $8.83 billion.
• The company announced a quarterly dividend of $0.115 per share, representing an annualized yield of 0.4% with a payout ratio of 8.29%.

Meiji Yasuda Life Insurance Co cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 30.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,837 shares of the semiconductor manufacturer's stock after selling 40,726 shares during the quarter. Meiji Yasuda Life Insurance Co's holdings in Micron Technology were worth $8,067,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter worth about $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology in the first quarter worth about $33,000. AllSquare Wealth Management LLC lifted its stake in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology in the first quarter worth about $36,000. Finally, Roxbury Financial LLC lifted its stake in Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after acquiring an additional 300 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Up 5.8%

MU stock opened at $131.37 on Monday. The firm has a 50 day moving average of $117.85 and a 200 day moving average of $101.67. The stock has a market capitalization of $147.02 billion, a PE ratio of 23.67 and a beta of 1.47. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $131.41.

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, topping analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period last year, the business earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced 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 of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Insider Transactions at Micron Technology

In related news, EVP Manish H. Bhatia sold 80,000 shares of the company'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 transaction, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. This represents a 22.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total value of $2,502,200.00. Following the completion of the transaction, the executive vice president directly owned 166,353 shares in the company, valued at approximately $20,812,423.83. The trade was a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 260,946 shares of company stock worth $31,927,244 over the last 90 days. Insiders own 0.30% of the company's stock.

Analyst Ratings Changes

MU has been the topic of a number of recent research reports. Mizuho raised their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. KGI Securities downgraded Micron Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Citigroup raised their price objective on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Erste Group Bank initiated coverage on Micron Technology in a research report on Thursday, August 14th. They set a "buy" rating on the stock. Finally, KeyCorp raised their price objective on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Two 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.54.

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.

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