Northern Trust Corp Sells 76,509 Shares of Micron Technology, Inc. $MU

Key Points

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Northern Trust Corp cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,635,547 shares of the semiconductor manufacturer's stock after selling 76,509 shares during the period. Northern Trust Corp owned 0.95% of Micron Technology worth $924,123,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in MU. Sunbeam Capital Management LLC acquired a new position in Micron Technology in the fourth quarter valued at approximately $26,000. Opal Wealth Advisors LLC acquired a new position in Micron Technology in the first quarter valued at approximately $33,000. AllSquare Wealth Management LLC lifted its holdings in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology in the first quarter valued at approximately $36,000. Finally, Roxbury Financial LLC lifted its holdings in Micron Technology by 306.1% in the first 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. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of MU stock traded down $4.84 during midday trading on Wednesday, reaching $117.21. 25,756,203 shares of the company were exchanged, compared to its average volume of 23,005,068. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $129.85. The company has a market cap of $131.17 billion, a P/E ratio of 21.12 and a beta of 1.37. The company's 50 day moving average price is $118.43 and its two-hundred day moving average price is $99.56. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

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, 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 for the quarter, compared to the consensus estimate of $8.83 billion. During the same period in the previous year, the firm earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, sell-side analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

A number of research firms recently commented on MU. KeyCorp upped their price objective on Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Bank of America boosted their target price on Micron Technology from $84.00 to $140.00 and gave the company a "neutral" rating in a research report on Thursday, June 26th. Raymond James Financial boosted their target price on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday, June 26th. Mizuho boosted their target price on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research report on Thursday, June 5th. Finally, Barclays boosted their price target on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $147.24.

Insider Buying and Selling

In other news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total transaction of $291,557.12. Following the transaction, the director owned 22,550 shares in the company, valued at $2,734,864. This represents a 9.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on Tuesday, July 22nd. The stock was 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 quarter, insiders have sold 286,042 shares of company stock worth $34,679,277. 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.