Canada Pension Plan Investment Board Sells 109,277 Shares of Micron Technology, Inc. $MU

Key Points

• Canada Pension Plan Investment Board reduced its holdings in Micron Technology by 17.1% in Q1, now owning 531,471 shares valued at approximately $46.18 million.
• Multiple analysts have upgraded their price targets for Micron Technology, with recommendations ranging from a "Strong Buy" to a "Hold," and a consensus target price of $147.54.
• Insider sales have occurred, including EVP Sumit Sadana selling 92,638 shares at an average price of $125.49, reflecting a significant decrease in their ownership.

Canada Pension Plan Investment Board trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 17.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 531,471 shares of the semiconductor manufacturer's stock after selling 109,277 shares during the period. Canada Pension Plan Investment Board's holdings in Micron Technology were worth $46,180,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in shares of Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after purchasing an additional 2,049,163 shares during the period. Goldman Sachs Group Inc. increased its holdings in Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after purchasing an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Micron Technology by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after buying an additional 58,285 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after buying an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of Micron Technology by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock worth $379,417,000 after buying an additional 17,970 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Down 2.5%

Shares of NASDAQ:MU traded down $2.99 during trading on Friday, reaching $119.01. The stock had a trading volume of 16,756,869 shares, compared to its average volume of 17,734,524. 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's fifty day moving average is $118.17 and its 200 day moving average is $100.98. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The stock has a market cap of $133.19 billion, a price-to-earnings ratio of 21.44 and a beta of 1.47.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate 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. As a group, equities analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. Micron Technology's payout ratio is currently 8.29%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on MU shares. Deutsche Bank Aktiengesellschaft started coverage on shares of Micron Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $150.00 price target on the stock. Raymond James Financial increased their target price on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price target on shares of Micron Technology in a research report on Monday, August 11th. Piper Sandler boosted their price target on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Wall Street Zen raised Micron Technology from a "hold" rating to a "buy" rating in a research note on Saturday, June 14th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Micron Technology currently has an average rating of "Moderate Buy" and an average price target of $147.54.

Insider Buying and Selling at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction dated 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 of the company's stock, valued at $28,864,415.52. This represents a 11.41% 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 company's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, the executive vice president directly owned 201,326 shares in the company, valued at approximately $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 286,042 shares of company stock valued at $34,679,277 over the last 90 days. Insiders own 0.30% of the company's stock.

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.