Southpoint Capital Advisors LP Makes New $26.07 Million Investment in Micron Technology, Inc. $MU

Key Points

• Southpoint Capital Advisors LP acquired 300,000 shares of Micron Technology, valued at approximately $26 million, as reported in the 1st quarter filing with the SEC.
• Multiple institutional investors, including Duquesne Family Office and Janus Henderson Group, have increased their stakes in Micron Technology, contributing to its 80.84% institutional ownership.
• In recent analyst reports, price targets for Micron Technology have been raised by several firms, with a consensus rating of "Moderate Buy" and an average target price of $147.54.

Southpoint Capital Advisors LP purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 300,000 shares of the semiconductor manufacturer's stock, valued at approximately $26,067,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. D.B. Root & Company LLC raised its holdings in shares of Micron Technology by 3.7% during the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after buying an additional 108 shares during the last quarter. Orca Wealth Management LLC raised its holdings in Micron Technology by 1.5% during the first quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer's stock worth $737,000 after purchasing an additional 129 shares in the last quarter. Sunpointe LLC raised its holdings in Micron Technology by 4.0% during the first quarter. Sunpointe LLC now owns 3,443 shares of the semiconductor manufacturer's stock worth $300,000 after purchasing an additional 131 shares in the last quarter. Foundations Investment Advisors LLC raised its holdings in Micron Technology by 2.1% during the first quarter. Foundations Investment Advisors LLC now owns 6,561 shares of the semiconductor manufacturer's stock worth $570,000 after purchasing an additional 138 shares in the last quarter. Finally, Allen Capital Group LLC raised its holdings in Micron Technology by 3.2% during the first quarter. Allen Capital Group LLC now owns 4,460 shares of the semiconductor manufacturer's stock worth $388,000 after purchasing an additional 139 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Micron Technology news, EVP Sumit Sadana sold 92,638 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. This represents a 31.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Steven J. Gomo sold 7,000 shares of the company's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director directly owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 286,042 shares of company stock valued at $34,679,277 over the last 90 days. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

MU has been the topic of several recent research reports. Stifel Nicolaus lifted their price target on shares of Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research report on Thursday, June 26th. Barclays lifted their price target on shares of Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Needham & Company LLC restated a "buy" rating and issued a $150.00 price target on shares of Micron Technology in a research report on Monday, August 11th. Rosenblatt Securities restated a "buy" rating and issued a $200.00 price target on shares of Micron Technology in a research report on Monday, August 11th. Finally, Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. Two equities research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.54.

Micron Technology Stock Performance

Micron Technology stock traded up $0.24 on Wednesday, reaching $118.72. 11,621,037 shares of the stock were exchanged, compared to its average volume of 16,995,496. The stock has a market cap of $132.86 billion, a PE ratio of 21.39 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $129.85. The firm has a fifty day moving average price of $117.75 and a two-hundred day moving average price of $101.36.

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 analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analyst estimates 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 business earned $0.62 EPS. 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 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a $0.115 dividend. The ex-dividend date of this dividend 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 presently 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.