NewEdge Advisors LLC Increases Position in Micron Technology, Inc. $MU

Key Points

• NewEdge Advisors LLC increased its position in Micron Technology by 14.0%, owning 83,010 shares worth approximately $7.2 million as of their latest SEC filing.
• Several institutional investors have also raised their stakes in Micron Technology, with 80.84% of the stock now owned by such investors.
• Micron's stock has seen a 5.8% increase recently, with a reported quarterly earnings per share of $1.91, exceeding analyst expectations.

NewEdge Advisors LLC lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,010 shares of the semiconductor manufacturer's stock after purchasing an additional 10,164 shares during the period. NewEdge Advisors LLC's holdings in Micron Technology were worth $7,213,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of MU. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Micron Technology by 5.0% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,454,623 shares of the semiconductor manufacturer's stock valued at $126,520,000 after acquiring an additional 69,913 shares in the last quarter. KADENSA CAPITAL Ltd purchased a new position in Micron Technology during the first quarter valued at $25,718,000. Gotham Asset Management LLC grew its stake in Micron Technology by 12.6% during the first quarter. Gotham Asset Management LLC now owns 133,558 shares of the semiconductor manufacturer's stock valued at $11,605,000 after acquiring an additional 14,955 shares in the last quarter. Hancock Whitney Corp grew its stake in Micron Technology by 5.3% during the first quarter. Hancock Whitney Corp now owns 9,483 shares of the semiconductor manufacturer's stock valued at $824,000 after acquiring an additional 477 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its stake in Micron Technology by 8.0% during the first quarter. Edmond DE Rothschild Holding S.A. now owns 5,914 shares of the semiconductor manufacturer's stock valued at $514,000 after acquiring an additional 440 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the sale, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 260,946 shares of company stock worth $31,927,244 in the last 90 days. 0.30% of the stock is owned by insiders.

Micron Technology Stock Up 5.8%

Shares of Micron Technology stock opened at $131.37 on Monday. The firm's 50 day moving average price is $117.85 and its 200-day moving average price is $101.67. 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 52-week low of $61.54 and a 52-week high of $131.41. The company has a market cap of $147.02 billion, a P/E ratio of 23.67 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. The company had revenue of $9.30 billion for the quarter, compared to the consensus estimate 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 in the previous year, the firm earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MU shares. The Goldman Sachs Group started coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $130.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Micron Technology in a research note on Thursday, July 10th. They set a "buy" rating and a $150.00 target price for the company. Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Citigroup increased their price objective on shares of Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Finally, Bank of America raised their target price on shares of Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a report on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently 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.

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