Choreo LLC raised its holdings in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,176 shares of the semiconductor manufacturer’s stock after purchasing an additional 1,350 shares during the quarter. Choreo LLC’s holdings in Micron Technology were worth $35,336,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Andar Capital Management HK Ltd raised its position in shares of Micron Technology by 856,960.3% in the second quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer’s stock valued at $39,571,847,000 after purchasing an additional 34,278,413 shares during the period. Primecap Management Co. CA acquired a new stake in shares of Micron Technology during the 2nd quarter worth about $22,182,263,000. Legal & General Group Plc bought a new stake in shares of Micron Technology during the 2nd quarter worth about $8,402,393,000. Situational Awareness LP boosted its holdings in shares of Micron Technology by 1,149.0% during the 2nd quarter. Situational Awareness LP now owns 4,828,786 shares of the semiconductor manufacturer’s stock worth $5,573,819,000 after buying an additional 5,289,124 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new position in Micron Technology in the 2nd quarter valued at about $3,761,237,000. 80.84% of the stock is owned by institutional investors.
Trending Headlines about Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron’s long-term outlook remains favorable. The company has reportedly secured most of next year’s shipments through customer agreements, while multi-year take-or-pay contracts cover more than 35% of revenue through 2030 and include approximately $32 billion in customer commitments. Micron Is Trading for Less Than 6 Times Forward Earnings. Here’s Why That’s a Sign to Buy.
- Positive Sentiment: Analysts and financial commentators continue to view MU as attractively valued at fewer than six times forward earnings, with expectations for sustained growth as data-center, AI, and high-bandwidth-memory demand outpaces supply. Micron: Priced For A Peak That Keeps Moving Higher
- Positive Sentiment: Strong results from SK Hynix indicated that DRAM and HBM demand could remain ahead of supply through 2029 or 2030, supporting the industry’s pricing environment and Micron’s earnings potential. Micron Stock Rises as SK Hynix Says DRAM and HBM Are Sold Out
Analysts Set New Price Targets
Several research firms have weighed in on MU. KeyCorp reissued an “overweight” rating on shares of Micron Technology in a report on Thursday, October 1st. Seaport Research Partners restated a “buy” rating on shares of Micron Technology in a report on Friday, August 14th. Wells Fargo & Company decreased their target price on Micron Technology from $1,525.00 to $1,400.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 23rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Micron Technology in a research report on Thursday, October 1st. Finally, CLSA reiterated an “outperform” rating and set a $1,700.00 target price on shares of Micron Technology in a research note on Friday, October 2nd. One analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $1,407.88.
Check Out Our Latest Report on MU
Micron Technology Trading Down 5.0%
MU stock opened at $934.27 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.94 and a current ratio of 3.31. The company’s 50-day simple moving average is $980.48 and its 200 day simple moving average is $741.83. Micron Technology, Inc. has a 52 week low of $192.59 and a 52 week high of $1,255.00. The company has a market capitalization of $1.06 trillion, a PE ratio of 12.59, a price-to-earnings-growth ratio of 0.17 and a beta of 2.22.
Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, topping the consensus estimate of $31.77 by $1.65. Micron Technology had a net margin of 63.80% and a return on equity of 92.62%. The business had revenue of $54.23 billion during the quarter, compared to analysts’ expectations of $51.33 billion. During the same quarter in the previous year, the company earned $3.03 EPS. The business’s revenue was up 379.1% on a year-over-year basis. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 177.03 earnings per share for the current year.
Micron Technology Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th were issued a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is currently 0.81%.
Insider Transactions at Micron Technology
In related news, EVP Sumit Sadana sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total value of $14,014,350.00. Following the completion of the sale, the executive vice president directly owned 191,021 shares in the company, valued at approximately $178,469,010.09. The trade was a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $968.90, for a total value of $38,756,000.00. Following the sale, the chief executive officer directly owned 264,503 shares in the company, valued at $256,276,956.70. This represents a 13.14% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 83,545 shares of company stock valued at $78,460,850. 0.24% of the stock is currently owned by company insiders.
Micron Technology Profile
Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.
The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.
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