Micron Technology, Inc. $MU is M & L Capital Management Ltd's 9th Largest Position

Key Points

• M & L Capital Management Ltd reduced its stake in Micron Technology by 41.7%, holding 88,500 shares now valued at approximately $10.9 million, making it the fund's 9th largest position.
• Analysts have raised their price targets for Micron, with KeyCorp and JPMorgan Chase & Co. setting targets of $160.00 and $185.00 respectively, while the stock has an average rating of "Moderate Buy".
• Micron Technology reported an EPS of $1.91 for its last quarter, exceeding estimates, and also declared a quarterly dividend of $0.115 per share, resulting in a yield of 0.3%.

M & L Capital Management Ltd lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 41.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,500 shares of the semiconductor manufacturer's stock after selling 63,300 shares during the period. Micron Technology makes up 2.5% of M & L Capital Management Ltd's holdings, making the stock its 9th biggest position. M & L Capital Management Ltd's holdings in Micron Technology were worth $10,908,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MU. Nuveen LLC purchased a new position in shares of Micron Technology during the first quarter worth $369,191,000. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Micron Technology by 10,369.6% during the first quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer's stock worth $162,783,000 after purchasing an additional 1,855,541 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after purchasing an additional 1,416,174 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on MU. KeyCorp lifted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $200.00 price objective on shares of Micron Technology in a report on Monday, August 11th. Wedbush lifted their price objective on shares of Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Wall Street Zen cut shares of Micron Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $151.76.

Insider Activity

In related news, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the transaction, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the transaction, the executive vice president owned 148,167 shares in the company, valued at $18,538,655.04. The trade was a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,946 shares of company stock valued at $33,962,819 in the last ninety days. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Stock Up 4.4%

Shares of NASDAQ MU opened at $157.23 on Friday. The company's 50-day simple moving average is $119.94 and its 200-day simple moving average is $103.25. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $158.28. The firm has a market cap of $175.96 billion, a price-to-earnings ratio of 28.33 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 (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (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 for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the business earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. Micron Technology's 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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