Ieq Capital LLC Has $2.16 Million Holdings in Micron Technology, Inc. $MU

Key Points

• Ieq Capital LLC has reduced its stake in Micron Technology by 61.5%, now holding 24,830 shares valued at approximately $2,158,000.
• Several hedge funds, including Sunbeam Capital Management and Opal Wealth Advisors, have recently acquired new stakes in Micron Technology, contributing to institutional investors owning 80.84% of the company’s stock.
• Micron Technology reported $1.91 earnings per share, surpassing expectations with a revenue of $9.30 billion during the last quarter.

Ieq Capital LLC lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 61.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,830 shares of the semiconductor manufacturer's stock after selling 39,739 shares during the quarter. Ieq Capital LLC's holdings in Micron Technology were worth $2,158,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC bought a new position in shares of Micron Technology in the first quarter worth about $33,000. AllSquare Wealth Management LLC raised its stake in shares of Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of Micron Technology in the first quarter worth about $36,000. Finally, Roxbury Financial LLC raised its stake in shares of Micron Technology by 306.1% in the first quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $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 Transactions at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of Micron Technology stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Piper Sandler boosted their target price on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Susquehanna boosted their target price on shares of Micron Technology from $150.00 to $160.00 and gave the stock a "positive" rating in a research note on Thursday, June 26th. TD Cowen lifted their price target on shares of Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price target on shares of Micron Technology in a research report on Monday, August 11th. Finally, Erste Group Bank started coverage on shares of Micron Technology in a research report on Thursday, August 14th. They set a "buy" rating for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average price target of $147.54.

Micron Technology Trading Down 0.4%

Micron Technology stock traded down $0.53 during midday trading on Tuesday, hitting $118.48. 12,421,123 shares of the stock were exchanged, compared to its average volume of 22,579,229. The company has a fifty day simple moving average of $118.11 and a two-hundred day simple moving average of $101.12. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The stock has a market capitalization of $132.59 billion, a PE ratio of 21.35 and a beta of 1.47. 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 released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share 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 for the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the firm earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal 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. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a 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.