Atalanta Sosnoff Capital LLC Sells 159,648 Shares of Micron Technology, Inc. $MU

Atalanta Sosnoff Capital LLC trimmed its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 29.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 380,351 shares of the semiconductor manufacturer’s stock after selling 159,648 shares during the period. Atalanta Sosnoff Capital LLC’s holdings in Micron Technology were worth $46,878,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of MU. First Command Advisory Services Inc. raised its holdings in Micron Technology by 225.0% during the second quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 153 shares during the period. AlphaQuest LLC raised its holdings in shares of Micron Technology by 13,250.0% during the 2nd quarter. AlphaQuest LLC now owns 267 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 265 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. bought a new position in Micron Technology during the first quarter valued at $36,000. Hilltop National Bank bought a new position in shares of Micron Technology in the 2nd quarter valued at about $37,000. Finally, Saudi Central Bank purchased a new position in Micron Technology in the first quarter worth about $38,000. Institutional investors own 80.84% of the company’s stock.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 22,500 shares of Micron Technology stock in a transaction on Monday, October 27th. The stock was sold at an average price of $220.72, for a total transaction of $4,966,200.00. Following the completion of the sale, the chief executive officer directly owned 446,578 shares of the company’s stock, valued at $98,568,696.16. The trade was a 4.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president directly owned 131,580 shares in the company, valued at $21,584,383.20. This trade represents a 10.23% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 409,756 shares of company stock valued at $85,308,033. 0.30% of the stock is owned by insiders.

Analysts Set New Price Targets

MU has been the topic of a number of recent research reports. Wolfe Research upped their price objective on Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Itau BBA Securities assumed coverage on Micron Technology in a report on Tuesday, October 7th. They set an “outperform” rating and a $249.00 price target on the stock. Susquehanna lifted their price objective on shares of Micron Technology from $160.00 to $200.00 and gave the stock a “positive” rating in a research note on Wednesday, September 17th. Wedbush boosted their price objective on shares of Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. Finally, The Goldman Sachs Group raised their target price on shares of Micron Technology from $145.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, October 9th. Five research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Micron Technology has a consensus rating of “Buy” and a consensus target price of $215.64.

Micron Technology Stock Up 3.0%

NASDAQ:MU opened at $207.37 on Monday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $260.58. The company has a market cap of $233.11 billion, a price-to-earnings ratio of 27.32, a price-to-earnings-growth ratio of 0.51 and a beta of 1.62. The stock has a fifty day simple moving average of $201.36 and a 200-day simple moving average of $145.13. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.17. The firm had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.18 earnings per share. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

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.