Micron Technology, Inc. $MU Shares Bought by Kamunting Street Capital Management L.P.

Key Points

• Kamunting Street Capital Management L.P. increased its stake in Micron Technology shares by 10%, owning 55,000 shares valued at approximately $4.78 million, making it the firm's 9th largest position.
• Multiple institutional investors, including ICONIQ Capital LLC and Jump Financial LLC, also significantly boosted their holdings in Micron Technology during the first quarter, reflecting strong institutional interest in the company.
• Wells Fargo & Company raised its price target on Micron Technology shares to $170.00 with an "overweight" rating, while the stock has a consensus rating of "Moderate Buy" and a target price of $147.24.

Kamunting Street Capital Management L.P. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 55,000 shares of the semiconductor manufacturer's stock after buying an additional 5,000 shares during the period. Micron Technology comprises approximately 3.2% of Kamunting Street Capital Management L.P.'s investment portfolio, making the stock its 9th biggest position. Kamunting Street Capital Management L.P.'s holdings in Micron Technology were worth $4,779,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. ICONIQ Capital LLC increased its holdings in shares of Micron Technology by 143.3% during the first quarter. ICONIQ Capital LLC now owns 6,735 shares of the semiconductor manufacturer's stock worth $585,000 after buying an additional 3,967 shares in the last quarter. Southeast Asset Advisors LLC acquired a new position in shares of Micron Technology during the first quarter worth $347,000. Jump Financial LLC increased its holdings in shares of Micron Technology by 71.7% during the first quarter. Jump Financial LLC now owns 10,260 shares of the semiconductor manufacturer's stock worth $891,000 after buying an additional 4,285 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Micron Technology by 1.6% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,535,297 shares of the semiconductor manufacturer's stock worth $133,402,000 after buying an additional 23,570 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Micron Technology by 22.6% during the first quarter. Smartleaf Asset Management LLC now owns 16,006 shares of the semiconductor manufacturer's stock worth $1,416,000 after buying an additional 2,955 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MU shares. Wells Fargo & Company upped their price target on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Citigroup increased their price objective on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Morgan Stanley increased their price objective on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Bank of America increased their price objective on Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a report on Thursday, June 26th. Finally, Mizuho increased 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. Two research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.24.

Micron Technology Stock Performance

Shares of MU opened at $117.68 on Friday. 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 stock has a market capitalization of $131.70 billion, a P/E ratio of 21.20 and a beta of 1.37. The firm's fifty day simple moving average is $118.48 and its two-hundred day simple moving average is $100.09. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for 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 quarter in the prior year, the firm posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend 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 is 8.29%.

Insider Buying and Selling at Micron Technology

In other news, Director Steven J. Gomo sold 7,000 shares of the 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 owned 22,762 shares of the company's stock, valued at $2,848,664.30. This represents a 23.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction dated Friday, June 27th. The stock was 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 $25,264,399.74. This trade represents a 31.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is owned by corporate insiders.

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.

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