Nearwater Capital Markets Ltd Decreases Stock Position in Micron Technology, Inc. $MU

Key Points

• Nearwater Capital Markets Ltd has reduced its stake in Micron Technology by 22.5%, selling 99,000 shares, bringing their total holdings to 341,000 shares valued at approximately $29.6 million.
• Micron Technology reported $1.91 earnings per share for the latest quarter, exceeding analysts' expectations of $1.57, with revenues of $9.3 billion.
• The company recently declared a quarterly dividend of $0.115 per share, resulting in an annualized dividend yield of 0.4%.

Nearwater Capital Markets Ltd lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 341,000 shares of the semiconductor manufacturer's stock after selling 99,000 shares during the quarter. Micron Technology makes up about 0.8% of Nearwater Capital Markets Ltd's holdings, making the stock its 28th biggest holding. Nearwater Capital Markets Ltd's holdings in Micron Technology were worth $29,629,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its stake in Micron Technology by 14.0% in the first quarter. NewEdge Advisors LLC now owns 83,010 shares of the semiconductor manufacturer's stock worth $7,213,000 after acquiring an additional 10,164 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Micron Technology by 5.0% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,454,623 shares of the semiconductor manufacturer's stock worth $126,520,000 after acquiring an additional 69,913 shares during the last quarter. KADENSA CAPITAL Ltd purchased a new position in Micron Technology in the first quarter worth approximately $25,718,000. Gotham Asset Management LLC lifted its stake in Micron Technology by 12.6% in the first quarter. Gotham Asset Management LLC now owns 133,558 shares of the semiconductor manufacturer's stock worth $11,605,000 after acquiring an additional 14,955 shares during the last quarter. Finally, Hancock Whitney Corp lifted its stake in Micron Technology by 5.3% in the first quarter. Hancock Whitney Corp now owns 9,483 shares of the semiconductor manufacturer's stock worth $824,000 after acquiring an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity at Micron Technology

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director directly owned 20,146 shares in the company, valued at approximately $2,330,287.82. The trade was a 10.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. The trade was a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 264,884 shares of company stock worth $32,363,889. 0.30% of the stock is currently owned by insiders.

Micron Technology Stock Performance

MU traded up $7.16 during trading on Friday, hitting $131.37. The stock had a trading volume of 28,358,729 shares, compared to its average volume of 16,826,394. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The firm has a market capitalization of $147.02 billion, a P/E ratio of 23.67 and a beta of 1.47. The company's 50-day moving average price is $117.85 and its 200 day moving average price is $101.68. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $131.41.

Micron Technology (NASDAQ:MU - Get Free Report) last announced 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 company 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 period in the previous year, the company posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on MU shares. Arete Research raised shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. The Goldman Sachs Group started coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $130.00 price objective on the stock. Stifel Nicolaus raised their price objective on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price objective on shares of Micron Technology in a report on Monday, August 11th. Finally, Wedbush raised their price objective on shares of Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $147.54.

Micron Technology 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.