APG Asset Management N.V. Decreases Holdings in Micron Technology, Inc. $MU

Key Points

• APG Asset Management N.V. has reduced its stake in Micron Technology by 3.6%, now owning about 0.06% of the company worth approximately $51.9 million.
• Micron Technology recently reported $1.91 earnings per share, exceeding analysts' expectations, and has set guidance for the upcoming quarter at $2.350-2.650 EPS.
• Several major firms have increased their positions in Micron, with 80.84% of the company now owned by institutional investors and hedge funds.

APG Asset Management N.V. reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 645,176 shares of the semiconductor manufacturer's stock after selling 23,866 shares during the quarter. APG Asset Management N.V. owned 0.06% of Micron Technology worth $51,897,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Duquesne Family Office LLC purchased a new stake in Micron Technology in the fourth quarter worth about $34,412,000. Janus Henderson Group PLC lifted its holdings in Micron Technology by 74.6% in the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after buying an additional 1,130,680 shares during the period. Mission Wealth Management LP lifted its holdings in Micron Technology by 195.2% in the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after buying an additional 10,348 shares during the period. Centre Asset Management LLC purchased a new stake in Micron Technology in the first quarter worth about $7,720,000. Finally, ProShare Advisors LLC lifted its holdings in Micron Technology by 16.9% in the fourth quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer's stock worth $138,945,000 after buying an additional 238,687 shares during the period. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on MU shares. KGI Securities lowered shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Cantor Fitzgerald lifted their target price on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Raymond James Financial lifted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Finally, Morgan Stanley lifted their target price on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $147.24.

Insider Activity

In related news, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction on 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 owned 201,326 shares in the company, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,042 shares of company stock worth $34,679,277. Company insiders own 0.30% of the company's stock.

Micron Technology Stock Up 0.1%

NASDAQ MU traded up $0.08 during mid-day trading on Tuesday, reaching $116.50. The stock had a trading volume of 12,545,407 shares, compared to its average volume of 22,754,754. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. The stock has a market cap of $130.38 billion, a PE ratio of 20.99 and a beta of 1.37. The company has a fifty day moving average price of $118.42 and a 200 day moving average price of $100.30. 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 (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data 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 net margin of 18.41% and a return on equity of 13.60%. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous year, the business earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders 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 dividend yield of 0.4%. 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.