MIG Capital LLC Acquires 4,595 Shares of Micron Technology, Inc. $MU

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

MIG Capital LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 119.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,441 shares of the semiconductor manufacturer's stock after acquiring an additional 4,595 shares during the quarter. MIG Capital LLC's holdings in Micron Technology were worth $733,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology in the fourth quarter worth approximately $26,000. Opal Wealth Advisors LLC purchased a new position in shares of Micron Technology in the first quarter worth approximately $33,000. AllSquare Wealth Management LLC boosted its holdings 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 buying an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Micron Technology in the first quarter worth approximately $36,000. Finally, Roxbury Financial LLC boosted its holdings 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 buying an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In other news, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director owned 22,762 shares in the company, valued at $2,848,664.30. This trade represents a 23.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of Micron Technology stock in a transaction that occurred 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 sale, the director owned 22,550 shares in the company, valued at approximately $2,734,864. The trade was a 9.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,042 shares of company stock valued at $34,679,277. Company insiders own 0.30% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MU shares. The Goldman Sachs Group started coverage on shares of Micron Technology in a report on Thursday, July 10th. They issued a "neutral" rating and a $130.00 price objective on the stock. Morgan Stanley raised their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the stock an "equal weight" rating in a report on Thursday, June 26th. KGI Securities downgraded shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Wall Street Zen raised shares of Micron Technology from a "hold" rating to a "buy" rating in a report on Saturday, June 14th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $150.00 price target on shares of Micron Technology in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and a consensus price target of $147.24.

Micron Technology Price Performance

Shares of Micron Technology stock traded up $1.89 on Friday, hitting $117.68. 16,990,488 shares of the company traded hands, compared to its average volume of 19,126,924. The stock has a market capitalization of $131.70 billion, a P/E ratio of 21.20 and a beta of 1.37. 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, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The business has a 50-day simple moving average of $118.48 and a 200 day simple moving average of $100.04.

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 (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter last year, the business posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

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.