Wellington Management Group LLP Has $233.72 Million Holdings in Micron Technology, Inc. $MU

Key Points

• Wellington Management Group LLP has decreased its stake in Micron Technology by 9.8%, selling 293,185 shares, and now holds 2,689,843 shares valued at about $233.7 million.
• Micron Technology reported a quarterly EPS of $1.91, exceeding estimates, and had revenue of $9.30 billion, significantly beating analyst projections of $8.83 billion.
• The company announced a quarterly dividend of $0.115 per share, representing a 0.4% yield, with a payout ratio of 8.29%.

Wellington Management Group LLP trimmed its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 9.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,689,843 shares of the semiconductor manufacturer's stock after selling 293,185 shares during the quarter. Wellington Management Group LLP owned 0.24% of Micron Technology worth $233,720,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Duquesne Family Office LLC acquired a new stake in shares of Micron Technology during the 4th quarter worth $34,412,000. Janus Henderson Group PLC grew its holdings in shares of Micron Technology by 74.6% during the 4th quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer's stock worth $222,779,000 after purchasing an additional 1,130,680 shares in the last quarter. Mission Wealth Management LP grew its holdings in shares of Micron Technology by 195.2% during the 1st quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer's stock worth $1,360,000 after purchasing an additional 10,348 shares in the last quarter. Centre Asset Management LLC acquired a new stake in shares of Micron Technology during the 1st quarter worth $7,720,000. Finally, ProShare Advisors LLC grew its holdings in shares of Micron Technology by 16.9% during the 4th quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer's stock worth $138,945,000 after purchasing an additional 238,687 shares in the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the transaction, the executive vice president directly owned 275,067 shares in the company, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 92,638 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.49, for a total value of $11,625,142.62. Following the completion of the sale, the executive vice president directly owned 201,326 shares of the company's stock, 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 ninety days, insiders sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MU has been the topic of several analyst reports. Wedbush increased their target price on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft started coverage on Micron Technology in a report on Thursday, July 10th. They set a "buy" rating and a $150.00 target price on the stock. Cantor Fitzgerald upped their price objective on Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Raymond James Financial upped their price objective on Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Finally, Citigroup upped their price objective on Micron Technology from $130.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $147.24.

Micron Technology Trading Down 1.2%

Micron Technology stock traded down $1.42 during trading hours on Thursday, hitting $115.79. The stock had a trading volume of 13,150,205 shares, compared to its average volume of 19,482,828. 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 cap of $129.58 billion, a price-to-earnings ratio of 20.86 and a beta of 1.37. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $129.85. The business's 50 day simple moving average is $118.44 and its 200-day simple moving average is $99.86.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its 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 firm had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same period last year, the company earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company 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 annualized dividend and a yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

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.