Zevenbergen Capital Investments LLC Has $37.36 Million Position in Micron Technology, Inc. $MU

Key Points

• Zevenbergen Capital Investments LLC reduced its stake in Micron Technology by 2.5%, now holding approximately $37.36 million worth of shares.
• Multiple analysts have recently upgraded their target prices for Micron, with Wells Fargo raising its price target from $150.00 to $170.00, reflecting positive sentiment towards the company's performance.
• Micron Technology recently reported a beat on earnings per share, with a value of $1.91 for the last quarter, exceeding expectations of $1.57.

Zevenbergen Capital Investments LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 2.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 303,150 shares of the semiconductor manufacturer's stock after selling 7,650 shares during the period. Zevenbergen Capital Investments LLC's holdings in Micron Technology were worth $37,363,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MU. D.B. Root & Company LLC grew 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. Rise Advisors LLC lifted its position in Micron Technology by 5.3% in the 1st quarter. Rise Advisors LLC now owns 2,373 shares of the semiconductor manufacturer's stock valued at $206,000 after acquiring an additional 120 shares in the last quarter. Orca Wealth Management LLC boosted its stake in Micron Technology by 1.5% during the 1st quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer's stock valued at $737,000 after purchasing an additional 129 shares during the last quarter. Sunpointe LLC increased its holdings in 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 in the last quarter. Finally, Foundations Investment Advisors LLC increased its holdings in 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 in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction dated 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 sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. This represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sanjay Mehrotra sold 7,500 shares of the company's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $140.58, for a total transaction of $1,054,350.00. Following the sale, the chief executive officer directly owned 355,148 shares in the company, valued at approximately $49,926,705.84. This trade represents a 2.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 275,946 shares of company stock valued at $33,962,819. Insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MU. The Goldman Sachs Group began coverage on Micron Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $130.00 price objective for the company. Raymond James Financial upped their target price 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. UBS Group upped their target price on shares of Micron Technology from $120.00 to $155.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Wells Fargo & Company upped their target price on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Erste Group Bank began coverage on shares of Micron Technology in a research note on Thursday, August 14th. They issued a "buy" rating for the company. Two equities research 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. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $151.76.

Micron Technology Price Performance

MU opened at $157.23 on Friday. The firm has a market cap of $175.96 billion, a P/E ratio of 28.33 and a beta of 1.47. The firm has a 50-day moving average of $119.94 and a 200 day moving average of $103.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $158.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to the consensus estimate 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 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, research analysts expect that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were issued 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.

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