Point72 Italy S.r.l. Acquires New Holdings in Micron Technology, Inc. $MU

Key Points

• Point72 Italy S.r.l. acquired 49,800 shares of Micron Technology, Inc. in the first quarter, valued at approximately $4.3 million, making it the 10th largest position in its portfolio.
• Insider activity at Micron included CFO Mark J. Murphy selling 34,000 shares, indicating an 11.41% decrease in his ownership, while 286,042 shares have been sold by insiders in the last three months.
• Several analysts have raised their price targets for Micron Technology, with Citigroup increasing its target from $130 to $150, reflecting a positive outlook for the company amid ongoing growth expectations.

Point72 Italy S.r.l. acquired a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 49,800 shares of the semiconductor manufacturer's stock, valued at approximately $4,327,000. Micron Technology makes up about 4.3% of Point72 Italy S.r.l.'s portfolio, making the stock its 10th biggest position.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Calton & Associates Inc. bought a new position in Micron Technology during the first quarter valued at approximately $551,000. Saudi Central Bank bought a new position in Micron Technology during the first quarter valued at approximately $38,000. Grand Alliance Asset Management Ltd bought a new position in Micron Technology during the first quarter valued at approximately $13,207,000. Ardmore Road Asset Management LP bought a new position in Micron Technology during the first quarter valued at approximately $11,296,000. Finally, Junto Capital Management LP bought a new position in Micron Technology during the first quarter valued at approximately $27,260,000. Institutional investors own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the sale, the chief financial officer owned 264,036 shares in the company, valued at $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Gomo sold 7,000 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the sale, the director owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is owned by insiders.

Micron Technology Trading Down 2.5%

Shares of Micron Technology stock opened at $119.01 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 current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The company's fifty day simple moving average is $118.17 and its 200-day simple moving average is $100.94. The company has a market cap of $133.19 billion, a price-to-earnings ratio of 21.44 and a beta of 1.37.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. The firm had revenue of $9.30 billion for the quarter, compared to the consensus estimate of $8.83 billion. During the same quarter in the previous 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, sell-side analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Citigroup increased their price target on Micron Technology from $130.00 to $150.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Morgan Stanley increased their price target on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Piper Sandler increased their price target on Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Mizuho increased their price target on Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a report on Thursday, June 5th. Finally, Barclays increased their price target on Micron Technology from $95.00 to $140.00 and gave the company an "overweight" 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $147.54.

About Micron Technology

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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