Clearline Capital LP Raises Holdings in Micron Technology, Inc. $MU

Key Points

• Clearline Capital LP increased its position in Micron Technology, Inc. by 8.1% in the first quarter, making it the firm's 6th largest holding.
• Micron Technology recently reported an EPS of $1.91 for the last quarter, exceeding analyst expectations and indicating strong revenue growth.
• Insider trading activity shows that several executives, including CFO Mark J. Murphy, recently sold shares, with a total of 260,946 shares sold in the last quarter.

Clearline Capital LP grew its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 8.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 338,915 shares of the semiconductor manufacturer's stock after acquiring an additional 25,362 shares during the quarter. Micron Technology accounts for approximately 1.8% of Clearline Capital LP's portfolio, making the stock its 6th largest holding. Clearline Capital LP's holdings in Micron Technology were worth $29,448,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter valued at $26,000. Opal Wealth Advisors LLC purchased a new stake in Micron Technology during the first quarter worth about $33,000. Roxbury Financial LLC increased its holdings in Micron Technology by 306.1% during the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the last quarter. AllSquare Wealth Management LLC raised its position 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. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in Micron Technology in the first quarter valued at about $36,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In related news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the transaction, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. This trade represents a 23.52% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the business'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 value of $3,716,880.00. Following the completion of the sale, the chief financial officer owned 264,036 shares of the company's stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 268,446 shares of company stock valued at $32,908,469. 0.30% of the stock is currently owned by insiders.

Micron Technology Price Performance

Shares of MU traded up $4.76 during midday trading on Wednesday, reaching $140.00. The stock had a trading volume of 25,669,345 shares, compared to its average volume of 22,536,215. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $156.68 billion, a price-to-earnings ratio of 25.23 and a beta of 1.47. The company's 50-day moving average is $118.30 and its 200 day moving average is $102.13. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $142.24.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share 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 company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous year, the company posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a $0.115 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology's payout ratio is currently 8.29%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of research reports. TD Cowen lifted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Erste Group Bank assumed coverage on Micron Technology in a research note on Thursday, August 14th. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on Micron Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $150.00 price target for the company. Wall Street Zen upgraded Micron Technology from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. Finally, CLSA began coverage on shares of Micron Technology in a report on Wednesday, August 27th. They set an "outperform" rating and a $155.00 price objective on the stock. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $147.54.

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.