Orbis Allan Gray Ltd Cuts Holdings in Micron Technology, Inc. $MU

Orbis Allan Gray Ltd decreased its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 17.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,301,640 shares of the semiconductor manufacturer's stock after selling 484,707 shares during the period. Orbis Allan Gray Ltd owned approximately 0.21% of Micron Technology worth $199,990,000 at the end of the most recent reporting period.

• Micron Stock Still Cheap Despite 25% Rally, Analysts Say

A number of other institutional investors have also recently made changes to their positions in MU. Nuveen LLC purchased a new position in shares of Micron Technology during the first quarter valued at about $369,191,000. Vanguard Group Inc. grew its position in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock valued at $8,854,644,000 after purchasing an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. grew its position in shares of Micron Technology by 23.8% during the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after purchasing an additional 2,038,641 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Micron Technology by 10,369.6% during the first quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer's stock valued at $162,783,000 after purchasing an additional 1,855,541 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after purchasing an additional 1,416,174 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Down 2.5%

Shares of NASDAQ MU opened at $119.01 on Friday. 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 company has a market cap of $133.19 billion, a P/E ratio of 21.44 and a beta of 1.37. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $129.85. The firm has a 50-day simple moving average of $118.17 and a two-hundred day simple moving average of $100.88.

• Deeply Undervalued, Micron Technologies Stock Isn’t Pricing in AI

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion during 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 quarter last year, the firm earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders 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 annualized dividend and a yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Insiders Place Their Bets

• 3 Companies That Will Profit From Trump's Semiconductor Tariffs

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $121.28, for a total value of $291,557.12. Following the completion of the sale, the director owned 22,550 shares of the company's stock, valued at $2,734,864. This trade represents a 9.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the completion of the sale, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,042 shares of company stock valued at $34,679,277 over the last quarter. Corporate insiders own 0.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MU. Stifel Nicolaus raised their price objective on Micron Technology from $130.00 to $145.00 and gave the company a "buy" rating in a research report on Thursday, June 26th. Wedbush lifted their price target on Micron Technology from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Thursday, June 26th. Mizuho lifted their price target on Micron Technology from $124.00 to $130.00 and gave the stock an "outperform" rating in a research report on Thursday, June 5th. Piper Sandler lifted their price target on Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a research report on Thursday, June 26th. Finally, Erste Group Bank assumed coverage on Micron Technology in a research report 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, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $147.54.

Read Our Latest Stock Report on Micron Technology

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.

Further Reading

• Five stocks we like better than Micron Technology
• 3 Fintech Stocks With Good 2021 Prospects
• Improving Fundamentals Drive New Buybacks for 3 Strong Performers
• Asset Allocation Strategies in Volatile Markets
• 3 Reasons Gartner Could Be the Best Buy of Q3
• Uptrend Stocks Explained: Learn How to Trade Using Uptrends
• Free Cash Flow Boom Keeps Microsoft Ahead of the Pack

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

Should You Invest $1,000 in Micron Technology Right Now?

Before you consider Micron Technology, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Micron Technology wasn't on the list.

While Micron Technology currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here