Parnassus Investments LLC reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 7.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 978,092 shares of the semiconductor manufacturer's stock after selling 79,554 shares during the quarter. Parnassus Investments LLC owned 0.09% of Micron Technology worth $84,986,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of the business. WPG Advisers LLC bought a new stake in shares of Micron Technology during the 1st quarter worth $50,000. Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Micron Technology by 8.9% during the 1st quarter. Lansforsakringar Fondforvaltning AB publ now owns 7,026 shares of the semiconductor manufacturer's stock worth $610,000 after buying an additional 575 shares during the last quarter. Northstar Financial Companies Inc. bought a new stake in shares of Micron Technology during the 1st quarter worth $434,000. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Micron Technology by 65.9% during the 1st quarter. B. Metzler seel. Sohn & Co. AG now owns 64,984 shares of the semiconductor manufacturer's stock worth $5,646,000 after buying an additional 25,810 shares during the last quarter. Finally, CreativeOne Wealth LLC lifted its position in shares of Micron Technology by 3.0% during the 1st quarter. CreativeOne Wealth LLC now owns 15,842 shares of the semiconductor manufacturer's stock worth $1,377,000 after buying an additional 459 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
MU has been the subject of several recent analyst reports. Rosenblatt Securities restated a "buy" rating and set a $200.00 price objective on shares of Micron Technology in a research report on Monday, August 11th. Barclays increased their target price on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. The Goldman Sachs Group assumed coverage on Micron Technology in a research report on Thursday, July 10th. They issued a "neutral" rating and a $130.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $150.00 target price on shares of Micron Technology in a research report on Monday, August 11th. Finally, Morgan Stanley increased their target price on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $147.54.
Check Out Our Latest Stock Analysis on MU
Micron Technology Price Performance
Shares of MU opened at $122.00 on Friday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The company 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 of $118.26 and a 200-day moving average of $100.71.
Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The company had revenue of $9.30 billion during the quarter, compared to the consensus estimate of $8.83 billion. During the same period last year, the company earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, equities research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.
Micron Technology Dividend Announcement
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. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 8.29%.
Insider Activity at Micron Technology
In other news, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares in the company, valued at $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the transaction, 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. Insiders sold 286,042 shares of company stock valued at $34,679,277 over the last ninety days. Insiders own 0.30% of the company's stock.
About Micron Technology
(
Free Report)
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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