Southpoint Capital Advisors LP Invests $26.07 Million in Micron Technology, Inc. $MU

Southpoint Capital Advisors LP bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU) in the 1st quarter, HoldingsChannel reports. The institutional investor bought 300,000 shares of the semiconductor manufacturer’s stock, valued at approximately $26,067,000.

A number of other hedge funds have also recently bought and sold shares of MU. Duquesne Family Office LLC bought a new position in shares of Micron Technology during the 4th quarter worth about $34,412,000. Janus Henderson Group PLC grew its position in Micron Technology by 74.6% during the fourth quarter. Janus Henderson Group PLC now owns 2,646,936 shares of the semiconductor manufacturer’s stock worth $222,779,000 after buying an additional 1,130,680 shares in the last quarter. Mission Wealth Management LP increased its stake in Micron Technology by 195.2% during the first quarter. Mission Wealth Management LP now owns 15,650 shares of the semiconductor manufacturer’s stock valued at $1,360,000 after acquiring an additional 10,348 shares during the period. Centre Asset Management LLC acquired a new position in Micron Technology in the 1st quarter valued at approximately $7,720,000. Finally, ProShare Advisors LLC boosted its position in shares of Micron Technology by 16.9% during the 4th quarter. ProShare Advisors LLC now owns 1,650,957 shares of the semiconductor manufacturer’s stock valued at $138,945,000 after acquiring an additional 238,687 shares in the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Down 2.5%

NASDAQ MU opened at $119.01 on Tuesday. The stock has a fifty day moving average of $118.11 and a 200-day moving average of $101.12. The stock has a market capitalization of $133.19 billion, a P/E ratio of 21.44 and a beta of 1.47. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. 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 (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (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 analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same quarter in the prior year, the firm posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology’s dividend payout ratio (DPR) is 8.29%.

Insider Buying and Selling

In other Micron Technology news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction 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 owned 275,067 shares of the company’s stock, valued at approximately $33,877,251.72. The trade was a 22.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 20,000 shares of the company’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $110.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president owned 186,353 shares of the company’s stock, valued at $20,498,830. The trade was a 9.69% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 286,042 shares of company stock worth $34,679,277. 0.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MU has been the topic of a number of recent research reports. Citigroup lifted their price objective on Micron Technology from $130.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, June 26th. Raymond James Financial boosted their price target on Micron Technology from $120.00 to $150.00 and gave the company an “outperform” rating in a research note on Thursday, June 26th. Wedbush upped their price target on Micron Technology from $150.00 to $165.00 and gave the company an “outperform” rating in a research report on Thursday, June 26th. CLSA assumed coverage on Micron Technology in a research note on Wednesday, August 27th. They set an “outperform” rating and a $155.00 price objective for the company. Finally, Barclays boosted their target price on shares of Micron Technology from $95.00 to $140.00 and gave the company an “overweight” rating in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Micron Technology currently has an average rating of “Moderate Buy” and a consensus price target of $147.54.

Micron Technology Company 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.