Micron Technology, Inc. $MU Shares Sold by Canada Pension Plan Investment Board

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 decreased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 17.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm 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.

Other hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new stake in shares of Micron Technology during the 4th quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology in the first quarter valued at $33,000. AllSquare Wealth Management LLC raised its stake in shares of Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after buying an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of Micron Technology in the 1st quarter worth about $36,000. Finally, Roxbury Financial LLC grew its stake in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the firm's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the transaction, the director directly owned 22,762 shares of the company's stock, valued at approximately $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the firm's 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 sale, the executive vice president owned 201,326 shares of the company's stock, 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. Over the last 90 days, insiders have sold 286,042 shares of company stock valued at $34,679,277. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

Shares of MU stock traded down $0.40 during trading on Wednesday, reaching $118.08. 4,363,020 shares of the company's stock were exchanged, compared to its average volume of 22,476,057. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The firm's fifty day moving average price is $117.92 and its 200-day moving average price is $101.24. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $132.14 billion, a PE ratio of 21.28 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the prior 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, sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Bank of America increased their price target on shares of Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft started coverage on Micron Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $150.00 price target for the company. KGI Securities downgraded Micron Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price objective on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Arete Research raised shares of Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Two equities research 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target 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.