MetLife Investment Management LLC Lowers Holdings in Micron Technology, Inc. $MU

Key Points

• MetLife Investment Management LLC reduced its stake in Micron Technology by 1.4%, owning 289,176 shares worth approximately $25.1 million after selling 4,178 shares in the first quarter.
• Various hedge funds have actively modified their holdings in Micron, with Janus Henderson Group PLC increasing its stake by 74.6% to hold over 2.6 million shares valued at around $222.8 million.
• Analysts have raised their price targets for Micron, with Raymond James increasing it from $120 to $150 and the stock currently holding a consensus rating of "Moderate Buy".

MetLife Investment Management LLC decreased its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 289,176 shares of the semiconductor manufacturer's stock after selling 4,178 shares during the quarter. MetLife Investment Management LLC's holdings in Micron Technology were worth $25,127,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Duquesne Family Office LLC purchased a new stake in shares of Micron Technology in the fourth quarter worth about $34,412,000. Janus Henderson Group PLC boosted its stake in shares of Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after buying an additional 1,130,680 shares during the last quarter. Mission Wealth Management LP boosted its stake in shares of Micron Technology by 195.2% in the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after buying an additional 10,348 shares during the last quarter. Centre Asset Management LLC purchased a new position in Micron Technology during the first quarter worth approximately $7,720,000. Finally, ProShare Advisors LLC boosted its position in Micron Technology by 16.9% during the fourth quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer's stock worth $138,945,000 after purchasing an additional 238,687 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent analyst reports. Raymond James Financial increased their price target on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Barclays increased their target price on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Stifel Nicolaus increased their target price on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Mizuho increased their target price on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 target price for the company. Two 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 assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $147.24.

Insider Buying and Selling

In related news, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the transaction, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,042 shares of company stock valued at $34,679,277 in the last ninety days. Company insiders own 0.30% of the company's stock.

Micron Technology Price Performance

NASDAQ:MU 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 debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The stock has a market cap of $131.70 billion, a PE ratio of 21.20 and a beta of 1.37. The stock has a 50 day moving average price of $118.48 and a 200 day moving average price of $100.13.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly 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 return on equity of 13.60% and a net margin of 18.41%.The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same quarter last year, the firm earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Equities research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed 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 yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio is presently 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.

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