Jericho Financial LLP Sells 2,215 Shares of Micron Technology, Inc. $MU

Jericho Financial LLP lowered its stake in Micron Technology, Inc. (NASDAQ:MU) by 12.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 15,106 shares of the semiconductor manufacturer’s stock after selling 2,215 shares during the quarter. Micron Technology makes up approximately 3.2% of Jericho Financial LLP’s portfolio, making the stock its 15th largest holding. Jericho Financial LLP’s holdings in Micron Technology were worth $5,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in MU. Norges Bank acquired a new stake in Micron Technology in the 4th quarter worth approximately $6,433,456,000. AQR Capital Management LLC grew its holdings in Micron Technology by 411.9% during the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after purchasing an additional 2,918,535 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Micron Technology by 1,340.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer’s stock valued at $805,148,000 after purchasing an additional 2,625,169 shares during the period. Amundi raised its position in shares of Micron Technology by 65.0% in the fourth quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock valued at $1,424,025,000 after purchasing an additional 1,965,319 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Micron Technology by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after buying an additional 1,954,644 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America upped their price objective on shares of Micron Technology from $950.00 to $1,500.00 and gave the stock a “buy” rating in a report on Tuesday, June 23rd. Royal Bank Of Canada lifted their target price on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the stock an “outperform” rating in a report on Thursday, June 25th. KeyCorp boosted their target price on shares of Micron Technology from $600.00 to $1,600.00 and gave the stock an “overweight” rating in a research report on Thursday, June 25th. UBS Group upped their price target on shares of Micron Technology from $535.00 to $1,625.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Rosenblatt Securities raised their price target on Micron Technology from $1,200.00 to $1,500.00 and gave the company a “buy” rating in a research report on Thursday, June 25th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $1,263.76.

Micron Technology Price Performance

Shares of MU stock opened at $938.38 on Wednesday. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,255.00. The company has a market capitalization of $1.06 trillion, a P/E ratio of 21.24 and a beta of 2.14. The stock has a 50 day moving average of $895.82 and a two-hundred day moving average of $565.31. The company has a current ratio of 3.42, a quick ratio of 2.98 and a debt-to-equity ratio of 0.05.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 EPS for the quarter, beating analysts’ consensus estimates of $21.39 by $3.72. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The business had revenue of $41.46 billion during the quarter, compared to analyst estimates of $35.91 billion. During the same period in the prior year, the company posted $1.91 earnings per share. Micron Technology’s revenue was up 345.8% on a year-over-year basis. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 72.94 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Monday, July 6th. Micron Technology’s payout ratio is 1.36%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 28,506 shares of the company’s stock in a transaction that occurred on Friday, June 26th. The stock was sold at an average price of $1,149.28, for a total value of $32,761,375.68. Following the sale, the chief executive officer directly owned 355,997 shares in the company, valued at approximately $409,140,232.16. This represents a 7.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Lynn A. Dugle sold 1,300 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $1,150.43, for a total value of $1,495,559.00. Following the completion of the sale, the director owned 17,728 shares in the company, valued at $20,394,823.04. This trade represents a 6.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 187,300 shares of company stock worth $162,779,604 in the last 90 days. 0.24% of the stock is currently owned by insiders.

Micron Technology News Summary

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Micron’s long-term supply agreement with Ford supports revenue visibility and reinforces demand for its automotive memory and storage products. Reuters: Micron, Ford sign semiconductor supply agreement for vehicles
• Positive Sentiment: Several bullish articles say Micron remains a key AI-memory winner, with record results, strong margins, and customer contracts suggesting the rally could have more room to run. Motley Fool: Micron Stock Is Down 22% From Its High
• Positive Sentiment: Analyst coverage remains constructive, with price-target hikes and “buy” ratings reinforcing the view that AI-driven memory demand is still strong. Insider Monkey: Phillip Securities Raises Price Target For Micron Technology
• Neutral Sentiment: Micron is moving with the broader semiconductor and memory group, so near-term volatility is being driven as much by sector sentiment as by company-specific news. Yahoo Finance: Why Micron Technology Stock Is Falling Today
• Neutral Sentiment: Some coverage warns the memory trade may be stretched after a huge run-up, which could keep investors cautious even if fundamentals stay strong. Barron’s: Micron Locks in Big Customers But Memory-Chip Fears Drag on Stock
• Negative Sentiment: Insider selling and articles questioning whether the memory cycle is peaking are adding to concern that Micron’s valuation may be ahead of fundamentals in the short term. Seeking Alpha: Micron: Exact Opposite Valuation Setup As 2022 Buy Suggestion

Micron Technology Company Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.