Adage Capital Partners GP L.L.C. Sells 69,900 Shares of Micron Technology, Inc. $MU

Key Points

• Adage Capital Partners GP L.L.C. reduced its holdings in Micron Technology by 5.6%, selling 69,900 shares, while retaining a total of 1,170,903 shares valued at approximately $101.74 million.
• Various institutional investors have made significant adjustments to their stakes in Micron, with Maverick Capital Ltd. increasing its holdings by an impressive 2,422.7% during Q1.
• Micron recently reported earnings per share (EPS) of $1.91, surpassing analysts' estimates, and set a positive outlook for the fiscal year with projected EPS of 2.350-2.650 for Q4 2025.

Adage Capital Partners GP L.L.C. lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,170,903 shares of the semiconductor manufacturer's stock after selling 69,900 shares during the period. Adage Capital Partners GP L.L.C. owned 0.10% of Micron Technology worth $101,740,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Southpoint Capital Advisors LP bought a new position in Micron Technology in the first quarter valued at $26,067,000. Atreides Management LP increased its stake in Micron Technology by 269.9% in the first quarter. Atreides Management LP now owns 889,842 shares of the semiconductor manufacturer's stock valued at $77,318,000 after acquiring an additional 649,253 shares during the last quarter. First Manhattan CO. LLC. increased its stake in Micron Technology by 25.2% in the first quarter. First Manhattan CO. LLC. now owns 9,554 shares of the semiconductor manufacturer's stock valued at $831,000 after acquiring an additional 1,925 shares during the last quarter. Maverick Capital Ltd. grew its stake in shares of Micron Technology by 2,422.7% during the first quarter. Maverick Capital Ltd. now owns 809,170 shares of the semiconductor manufacturer's stock valued at $70,309,000 after buying an additional 777,095 shares during the last quarter. Finally, Point72 Italy S.r.l. bought a new position in shares of Micron Technology during the first quarter valued at about $4,327,000. Institutional investors own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology 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 approximately $28,864,415.52. The trade was a 11.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the sale, the executive vice president directly owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. The trade was a 9.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 288,446 shares of company stock valued at $34,957,348. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Up 4.6%

MU traded up $5.49 on Thursday, hitting $124.21. The company had a trading volume of 18,121,660 shares, compared to its average volume of 22,510,158. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $129.85. The stock has a fifty day simple moving average of $117.75 and a 200-day simple moving average of $101.36. The firm has a market capitalization of $139.01 billion, a P/E ratio of 22.38 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $8.83 billion. During the same period last year, the business posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Analysts Set New Price Targets

MU has been the topic of a number of recent research reports. Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. The Goldman Sachs Group initiated coverage on Micron Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $130.00 price objective on the stock. Wedbush raised their price objective on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Wells Fargo & Company raised their price objective on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Bank of America raised their price objective on Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research note on Thursday, June 26th. Two research 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $147.54.

Micron Technology Company 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.