Primecap Management Co. CA Sells 5,814,892 Shares of Micron Technology, Inc. $MU

Primecap Management Co. CA cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 15.6% in the 2nd quarter, Holdings Channel reports. The fund owned 31,465,876 shares of the semiconductor manufacturer’s stock after selling 5,814,892 shares during the period. Micron Technology accounts for about 3.1% of Primecap Management Co. CA’s investment portfolio, making the stock its 4th biggest position. Primecap Management Co. CA’s holdings in Micron Technology were worth $3,878,169,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of MU. Traub Capital Management LLC purchased a new stake in Micron Technology during the 2nd quarter worth approximately $102,000. Wealthspire Advisors LLC boosted its stake in shares of Micron Technology by 27.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 14,754 shares of the semiconductor manufacturer’s stock valued at $1,818,000 after buying an additional 3,208 shares during the last quarter. United Advisor Group LLC acquired a new stake in shares of Micron Technology during the second quarter worth approximately $211,000. Empowered Funds LLC increased its stake in shares of Micron Technology by 76.3% in the second quarter. Empowered Funds LLC now owns 117,405 shares of the semiconductor manufacturer’s stock worth $14,470,000 after buying an additional 50,801 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Micron Technology by 1.9% in the second quarter. Vanguard Group Inc. now owns 103,879,662 shares of the semiconductor manufacturer’s stock valued at $12,803,168,000 after acquiring an additional 1,973,294 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Scott J. Deboer sold 82,000 shares of Micron Technology stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the sale, the executive vice president owned 154,145 shares of the company’s stock, valued at approximately $34,345,047.45. The trade was a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 3,743 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $233.39, for a total value of $873,578.77. Following the transaction, the chief executive officer owned 396,578 shares of the company’s stock, valued at approximately $92,557,339.42. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 409,756 shares of company stock worth $85,308,033 over the last ninety days. 0.30% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of MU opened at $228.50 on Wednesday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $260.58. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. The stock has a fifty day moving average price of $197.63 and a 200 day moving average price of $142.38. The company has a market cap of $256.48 billion, a P/E ratio of 30.11, a PEG ratio of 0.51 and a beta of 1.62.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.17. The company had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.18 earnings per share. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. On average, research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd were given a $0.115 dividend. The ex-dividend date was Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.2%. Micron Technology’s dividend payout ratio is 6.06%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MU. Summit Insights upgraded Micron Technology to a “strong-buy” rating in a research note on Tuesday, September 23rd. Wolfe Research increased their target price on Micron Technology from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. The Goldman Sachs Group boosted their price target on Micron Technology from $145.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Wells Fargo & Company raised their price objective on Micron Technology from $220.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, November 7th. Finally, Erste Group Bank started coverage on shares of Micron Technology in a report on Thursday, August 14th. They issued a “buy” rating for the company. Five analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $211.18.

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.