Micron Technology, Inc. $MU Shares Bought by Kayne Anderson Rudnick Investment Management LLC

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly increased its stake in Micron Technology by 1,561% in Q1, owning 4,817 shares worth $419,000, while other institutional investors like Vanguard and Goldman Sachs also boosted their positions.
• Micron Technology reported earnings per share of $1.91 in its latest quarterly results, exceeding estimates and showing a substantial increase from $0.62 the previous year, with revenue reaching $9.30 billion.
• The company's stock has a market capitalization of $130.38 billion and is currently trading around $116.50, with analysts maintaining a consensus rating of "Moderate Buy" and an average target price of $147.24.

Kayne Anderson Rudnick Investment Management LLC lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1,561.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,817 shares of the semiconductor manufacturer's stock after acquiring an additional 4,527 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC's holdings in Micron Technology were worth $419,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC bought a new position in shares of Micron Technology during the 4th quarter valued at approximately $26,000. Opal Wealth Advisors LLC purchased a new stake in shares of Micron Technology during the 1st quarter worth approximately $33,000. AllSquare Wealth Management LLC raised its holdings in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology during the 1st quarter valued at $36,000. Finally, Roxbury Financial LLC increased its stake in 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 purchasing an additional 300 shares during the period. 80.84% of the stock is currently owned by institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock traded up $4.25 on Thursday, reaching $122.00. 17,265,427 shares of the stock were exchanged, compared to its average volume of 18,692,428. 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, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The firm has a market capitalization of $136.53 billion, a price-to-earnings ratio of 21.98 and a beta of 1.37. The business has a 50 day moving average price of $118.26 and a two-hundred day moving average price of $100.71.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analysts' expectations 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 business earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders 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 dividend yield of 0.4%. Micron Technology's payout ratio is 8.29%.

Analyst Ratings Changes

A number of analysts have weighed in on MU shares. TD Cowen increased their target price on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. UBS Group raised their price target on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Deutsche Bank Aktiengesellschaft assumed coverage on Micron Technology in a research report on Thursday, July 10th. They set a "buy" rating and a $150.00 price objective on the stock. Erste Group Bank started coverage on Micron Technology in a research report on Thursday, August 14th. They set a "buy" rating on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $150.00 price target on shares of Micron Technology in a report on Monday, August 11th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $147.54.

Insiders Place Their Bets

In other news, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the sale, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. The trade was a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction that occurred on 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 owned 201,326 shares of the company's stock, valued at $25,264,399.74. This trade represents a 31.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is owned by insiders.

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.