Avalon Global Asset Management LLC Sells 4,000 Shares of Micron Technology, Inc. $MU

Key Points

• Avalon Global Asset Management LLC reduced its stake in Micron Technology by 3.5% during the first quarter, now holding 110,560 shares valued at approximately $9.6 million.
• Wall Street analysts have positive forecasts for Micron, with multiple firms raising their price targets to between $140.00 and $200.00, reflecting a consensus average target price of $147.24.
• Insider selling occurred recently, with two executives selling a combined total of over 172,000 shares, leading to a significant decrease in their ownership percentages.

Avalon Global Asset Management LLC reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 110,560 shares of the semiconductor manufacturer's stock after selling 4,000 shares during the period. Micron Technology makes up 1.3% of Avalon Global Asset Management LLC's investment portfolio, making the stock its 18th largest holding. Avalon Global Asset Management LLC's holdings in Micron Technology were worth $9,607,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Brighton Jones LLC lifted its stake in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG raised its holdings in shares of Micron Technology by 19.5% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after acquiring an additional 13,985 shares during the last quarter. Coldstream Capital Management Inc. lifted its position in Micron Technology by 5.8% in the 4th quarter. Coldstream Capital Management Inc. now owns 16,139 shares of the semiconductor manufacturer's stock valued at $1,358,000 after acquiring an additional 887 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Micron Technology by 47.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,542,059 shares of the semiconductor manufacturer's stock valued at $213,940,000 after acquiring an additional 815,304 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Micron Technology by 13.7% during the 4th quarter. Northern Trust Corp now owns 10,712,056 shares of the semiconductor manufacturer's stock valued at $901,527,000 after purchasing an additional 1,287,063 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MU shares. Deutsche Bank Aktiengesellschaft started coverage on Micron Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $150.00 target price on the stock. Barclays raised their price objective on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Zacks Research upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 19th. KeyCorp increased their target price 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. Finally, Wells Fargo & Company boosted 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. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Micron Technology has a consensus rating of "Moderate Buy" and an average price target of $147.54.

Micron Technology Stock Performance

Micron Technology stock traded up $4.25 during trading on Thursday, hitting $122.00. The stock had a trading volume of 17,265,427 shares, compared to its average volume of 18,692,428. The stock's 50 day moving average is $118.26 and its two-hundred day moving average is $100.53. 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 $136.53 billion, a price-to-earnings ratio of 20.48 and a beta of 1.37. 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 issued 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 return on equity of 13.60% and a net margin of 18.41%.The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. During the same period in the previous 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 predict that Micron Technology, Inc. will post 6.08 EPS for the current 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 paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio is presently 8.29%.

Insider Buying and Selling

In other news, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $110.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president directly owned 186,353 shares of the company's stock, valued at $20,498,830. This trade represents a 9.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president owned 148,167 shares of the company's stock, valued at approximately $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock worth $34,679,277 in the last 90 days. 0.30% of the stock is currently owned by company 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.