Advisors Asset Management Inc. Boosts Holdings in Micron Technology, Inc. $MU

Key Points

• Advisors Asset Management Inc. increased its stake in Micron Technology by 151.7% during the 1st quarter, acquiring a total of 31,599 shares worth approximately $2.75 million.
• Micron Technology reported a profit of $1.91 per share for the last quarter, surpassing estimates, and had revenue of $9.30 billion.
• Several analysts have raised their price targets for Micron shares, with targets now ranging from $140 to $165, reflecting a generally positive outlook on the stock.

Advisors Asset Management Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 151.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,599 shares of the semiconductor manufacturer's stock after acquiring an additional 19,045 shares during the quarter. Advisors Asset Management Inc.'s holdings in Micron Technology were worth $2,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atalanta Sosnoff Capital LLC lifted its stake in Micron Technology by 85.4% during the 1st quarter. Atalanta Sosnoff Capital LLC now owns 539,999 shares of the semiconductor manufacturer's stock valued at $46,921,000 after acquiring an additional 248,716 shares during the period. AlTi Global Inc. acquired a new position in Micron Technology in the first quarter valued at approximately $259,000. Alight Capital Management LP acquired a new position in shares of Micron Technology in the 1st quarter valued at $5,213,000. Alyeska Investment Group L.P. acquired a new position in shares of Micron Technology in the first quarter worth about $11,217,000. Finally, Southpoint Capital Advisors LP acquired a new stake in shares of Micron Technology during the 1st quarter valued at about $26,067,000. 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 Mary Pat Mccarthy sold 2,404 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total value of $278,070.68. Following the completion of the transaction, the director directly owned 20,146 shares in the company, valued at approximately $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction dated Friday, June 27th. The shares were 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 of the company's stock, valued at approximately $2,848,664.30. This represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 264,884 shares of company stock valued at $32,363,889. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. Mizuho raised their price objective on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. UBS Group increased their price objective on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Raymond James Financial raised their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. CLSA initiated coverage on Micron Technology in a research note on Wednesday, August 27th. They set an "outperform" rating and a $155.00 target price for the company. Finally, Barclays boosted their target price on Micron Technology from $95.00 to $140.00 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 issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and an average price target of $147.54.

Micron Technology Stock Performance

NASDAQ MU traded up $7.16 during trading on Friday, reaching $131.37. The company's stock had a trading volume of 28,358,729 shares, compared to its average volume of 16,826,394. The business's fifty day moving average price is $117.85 and its 200-day moving average price is $101.68. 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 firm has a market cap of $147.02 billion, a price-to-earnings 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.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The firm 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 in the prior year, the company posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal 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 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 0.4%. Micron Technology's dividend payout ratio (DPR) is 8.29%.

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.