Micron Technology, Inc. $MU Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its stake in Micron Technology by 16.7%, selling 423,536 shares, and now owns about 0.19% of the company, valued at $184 million as of its latest SEC filing.
• Several hedge funds, including Sunbeam Capital and Opal Wealth Advisors, have recently modified their positions in Micron Technology, highlighting an active interest in the company's stock among institutional investors.
• Micron Technology reported strong earnings for the last quarter, exceeding expectations with $1.91 EPS and $9.30 billion in revenue, prompting analysts to maintain a largely positive outlook on the stock with a consensus price target of $147.54.

The Manufacturers Life Insurance Company reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,118,523 shares of the semiconductor manufacturer's stock after selling 423,536 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.19% of Micron Technology worth $184,078,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. D.B. Root & Company LLC grew its stake in shares of Micron Technology by 3.7% during the 1st quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock worth $262,000 after purchasing an additional 108 shares during the period. Orca Wealth Management LLC grew its stake in shares of Micron Technology by 1.5% during the 1st 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 during the period. Sunpointe LLC grew its stake in shares of Micron Technology by 4.0% during the 1st quarter. Sunpointe LLC now owns 3,443 shares of the semiconductor manufacturer's stock worth $300,000 after purchasing an additional 131 shares during the period. Foundations Investment Advisors LLC grew its stake in shares of Micron Technology by 2.1% during the 1st 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 during the period. Finally, Allen Capital Group LLC grew its stake in shares of Micron Technology by 3.2% during the 1st 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 during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Micron Technology news, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total value of $876,050.00. Following the completion of the sale, the director owned 22,762 shares of the company's stock, valued at $2,848,664.30. This trade represents a 23.52% 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 Manish H. Bhatia sold 80,000 shares of the stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the completion of the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,042 shares of company stock worth $34,679,277. Insiders own 0.30% of the company's stock.

Micron Technology Trading Down 2.5%

NASDAQ:MU traded down $2.99 on Friday, reaching $119.01. The stock had a trading volume of 16,756,869 shares, compared to its average volume of 17,734,524. The company has a market cap of $133.19 billion, a price-to-earnings ratio of 21.44 and a beta of 1.47. 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 firm's fifty day moving average is $118.17 and its two-hundred day moving average is $100.98. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $129.85.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion for 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 period in the prior year, the firm earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Equities analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced 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. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio is 8.29%.

Analyst Upgrades and Downgrades

MU has been the topic of a number of recent analyst reports. Raymond James Financial upped their price target on shares of Micron Technology from $120.00 to $150.00 and gave the stock an "outperform" rating in a research note on Thursday, June 26th. CLSA started coverage on shares of Micron Technology in a research note on Wednesday. They set an "outperform" rating and a $155.00 price target on the stock. KeyCorp increased their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Monday, August 11th. Finally, Mizuho increased their price objective on shares of Micron Technology from $124.00 to $130.00 and gave the company an "outperform" rating in a research note on Thursday, June 5th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.