Plato Investment Management Ltd Has $1.53 Million Stake in Micron Technology, Inc. $MU

Key Points

• Plato Investment Management Ltd reduced its holdings in Micron Technology, Inc. by 28.5%, selling 6,922 shares and leaving them with 17,381 shares valued at approximately $1.5 million.
• Micron reported $1.91 earnings per share for the last quarter, surpassing the consensus estimate, and generated $9.30 billion in revenue, exceeding expectations.
• The company's dividend payout ratio stands at 8.29%, with a recent quarterly dividend of $0.115 per share reflecting a yield of 0.3%.

Plato Investment Management Ltd lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 28.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,381 shares of the semiconductor manufacturer's stock after selling 6,922 shares during the quarter. Plato Investment Management Ltd's holdings in Micron Technology were worth $1,527,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. SageView Advisory Group LLC lifted its stake in shares of Micron Technology by 52.5% during the first quarter. SageView Advisory Group LLC now owns 6,572 shares of the semiconductor manufacturer's stock valued at $571,000 after acquiring an additional 2,263 shares during the period. SCS Capital Management LLC bought a new stake in Micron Technology in the first quarter valued at about $276,000. Zurich Insurance Group Ltd FI bought a new stake in Micron Technology in the first quarter valued at about $18,573,000. Empowered Funds LLC increased its holdings in Micron Technology by 8.5% in the first quarter. Empowered Funds LLC now owns 66,604 shares of the semiconductor manufacturer's stock valued at $5,787,000 after purchasing an additional 5,240 shares during the last quarter. Finally, Ascent Group LLC increased its holdings in Micron Technology by 110.9% in the first quarter. Ascent Group LLC now owns 5,805 shares of the semiconductor manufacturer's stock valued at $504,000 after purchasing an additional 3,052 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other news, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 275,946 shares of company stock valued at $33,962,819. Corporate insiders own 0.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on MU shares. Deutsche Bank Aktiengesellschaft started coverage on Micron Technology in a report on Thursday, July 10th. They issued a "buy" rating and a $150.00 price objective for the company. Cantor Fitzgerald upped their price objective on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. CLSA started coverage on Micron Technology in a report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price objective for the company. Piper Sandler upped their price objective on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Finally, Wells Fargo & Company increased their price target on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and an average target price of $151.76.

Micron Technology Stock Up 4.4%

NASDAQ MU traded up $6.66 during trading hours on Friday, hitting $157.23. 32,223,879 shares of the company traded hands, compared to its average volume of 18,134,322. The business's 50-day moving average is $119.94 and its 200-day moving average is $103.21. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $158.28. 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 stock has a market capitalization of $175.96 billion, a price-to-earnings ratio of 28.33 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. During the same period in the prior year, the firm posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current 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 given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology's dividend payout ratio is 8.29%.

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.