Mirae Asset Securities USA Inc. Invests $16.98 Million in Micron Technology, Inc. $MU

Key Points

• Mirae Asset Securities USA opened a new position in Micron Technology in Q1, buying 50,276 shares valued at about $16.98 million. The stake represents 0.6% of its portfolio and makes Micron its 12th-largest holding.
• Institutional ownership remains very high, with 80.84% of Micron shares held by hedge funds and other institutions. Several other investors also increased their positions during the quarter.
• Micron has seen notable insider selling, including EVP April S. Arnzen’s sale of 40,000 shares, while analysts remain broadly bullish. Wall Street’s average rating is Buy, with an average price target of $1,263.76.

Mirae Asset Securities USA Inc. acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 50,276 shares of the semiconductor manufacturer's stock, valued at approximately $16,985,000. Micron Technology accounts for 0.6% of Mirae Asset Securities USA Inc.'s portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds have also bought and sold shares of MU. Horst & Graben Wealth Management LLC boosted its stake in Micron Technology by 31.9% during the first quarter. Horst & Graben Wealth Management LLC now owns 1,327 shares of the semiconductor manufacturer's stock valued at $448,000 after buying an additional 321 shares during the period. Hoey Investments Inc. raised its holdings in shares of Micron Technology by 35.1% in the 1st quarter. Hoey Investments Inc. now owns 2,600 shares of the semiconductor manufacturer's stock valued at $878,000 after acquiring an additional 675 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Micron Technology by 32.5% during the 1st quarter. Resonant Capital Advisors LLC now owns 4,331 shares of the semiconductor manufacturer's stock valued at $1,464,000 after acquiring an additional 1,062 shares during the last quarter. Signet Private Wealth LLC grew its holdings in shares of Micron Technology by 26.4% during the first quarter. Signet Private Wealth LLC now owns 1,226 shares of the semiconductor manufacturer's stock worth $414,000 after purchasing an additional 256 shares in the last quarter. Finally, Halter Ferguson Financial Inc. grew its holdings in shares of Micron Technology by 56.3% during the first quarter. Halter Ferguson Financial Inc. now owns 64,685 shares of the semiconductor manufacturer's stock worth $21,853,000 after purchasing an additional 23,295 shares in the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the sale, the executive vice president owned 85,737 shares in the company, valued at $92,933,763.78. The trade was a 31.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 187,300 shares of company stock worth $162,779,604. Corporate insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have commented on MU shares. Melius Research assumed coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a "buy" rating and a $700.00 price target for the company. Rosenblatt Securities lifted their price objective on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Royal Bank Of Canada upped their target price on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Thursday, June 25th. Morgan Stanley increased their target price on Micron Technology from $1,050.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Thursday, June 25th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Micron Technology in a research note on Tuesday, May 12th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $1,263.76.

Micron Technology News Summary

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Micron’s long-term supply agreement with Ford supports revenue visibility and reinforces demand for its automotive memory and storage products. Reuters: Micron, Ford sign semiconductor supply agreement for vehicles
• Positive Sentiment: Several bullish articles say Micron remains a key AI-memory winner, with record results, strong margins, and customer contracts suggesting the rally could have more room to run. Motley Fool: Micron Stock Is Down 22% From Its High
• Positive Sentiment: Analyst coverage remains constructive, with price-target hikes and “buy” ratings reinforcing the view that AI-driven memory demand is still strong. Insider Monkey: Phillip Securities Raises Price Target For Micron Technology
• Neutral Sentiment: Micron is moving with the broader semiconductor and memory group, so near-term volatility is being driven as much by sector sentiment as by company-specific news. Yahoo Finance: Why Micron Technology Stock Is Falling Today
• Neutral Sentiment: Some coverage warns the memory trade may be stretched after a huge run-up, which could keep investors cautious even if fundamentals stay strong. Barron’s: Micron Locks in Big Customers But Memory-Chip Fears Drag on Stock
• Negative Sentiment: Insider selling and articles questioning whether the memory cycle is peaking are adding to concern that Micron’s valuation may be ahead of fundamentals in the short term. Seeking Alpha: Micron: Exact Opposite Valuation Setup As 2022 Buy Suggestion

Micron Technology Stock Down 4.7%

Shares of NASDAQ MU opened at $938.38 on Wednesday. The firm's fifty day moving average is $895.82 and its 200 day moving average is $565.31. Micron Technology, Inc. has a 52 week low of $103.38 and a 52 week high of $1,255.00. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.06 trillion, a price-to-earnings ratio of 21.24 and a beta of 2.14.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $21.39 by $3.72. The business had revenue of $41.46 billion for the quarter, compared to analyst estimates of $35.91 billion. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The company's revenue was up 345.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 72.94 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Shareholders of record on Monday, July 6th will be issued a $0.15 dividend. The ex-dividend date is Monday, July 6th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology's dividend payout ratio (DPR) is 1.36%.

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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