Micron Technology, Inc. $MU Shares Sold by Woodline Partners LP

Key Points

• Woodline Partners LP has decreased its holdings in Micron Technology, selling 166,479 shares and owning 698,562 shares as of the latest SEC filing.
• Micron Technology reported quarterly earnings of $1.91 per share, exceeding analysts' expectations, with revenue of $9.30 billion, up from last year's figures.
• The company declared a quarterly dividend of $0.115 per share, reflecting an annual yield of 0.3% and a payout ratio of 8.29%.

Woodline Partners LP decreased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 19.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 698,562 shares of the semiconductor manufacturer's stock after selling 166,479 shares during the quarter. Woodline Partners LP owned about 0.06% of Micron Technology worth $60,698,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Sunbeam Capital Management LLC purchased a new stake in Micron Technology in the fourth quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology during the first quarter valued at about $33,000. Roxbury Financial LLC increased its holdings in shares of Micron Technology by 306.1% during 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 in the last quarter. AllSquare Wealth Management LLC raised its position in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology in the 1st quarter worth approximately $36,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Trading Up 0.1%

NASDAQ MU opened at $131.46 on Tuesday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $132.26. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company has a market capitalization of $147.12 billion, a PE ratio of 23.69 and a beta of 1.47. The company has a fifty day moving average of $118.01 and a 200 day moving average of $101.90.

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, 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 business had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. During the same quarter last year, the business posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued 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 0.3%. Micron Technology's payout ratio is presently 8.29%.

Insiders Place Their Bets

In related news, CFO Mark J. Murphy sold 34,000 shares of the stock in a transaction on 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 sale, the chief financial officer directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction 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 sale, the executive vice president owned 201,326 shares in the company, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 260,946 shares of company stock worth $31,927,244. Corporate insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of a number of recent analyst reports. The Goldman Sachs Group assumed coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $130.00 price target on the stock. Wall Street Zen raised shares of Micron Technology from a "buy" rating to a "strong-buy" rating in a report on Friday. Mizuho upped 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. 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. Finally, Cantor Fitzgerald boosted their price target on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Two investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and a consensus price target of $147.54.

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.

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