Micron Technology, Inc. $MU Shares Sold by Gallacher Capital Management LLC

Gallacher Capital Management LLC lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 71.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 317 shares of the semiconductor manufacturer’s stock after selling 803 shares during the quarter. Gallacher Capital Management LLC’s holdings in Micron Technology were worth $338,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Andar Capital Management HK Ltd grew its holdings in shares of Micron Technology by 856,960.3% in the second quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer’s stock valued at $39,571,847,000 after purchasing an additional 34,278,413 shares in the last quarter. Primecap Management Co. CA bought a new stake in Micron Technology in the second quarter worth $22,182,263,000. Legal & General Group Plc bought a new stake in Micron Technology in the second quarter worth $8,402,393,000. Situational Awareness LP raised its stake in Micron Technology by 1,149.0% during the second quarter. Situational Awareness LP now owns 4,828,786 shares of the semiconductor manufacturer’s stock valued at $5,573,819,000 after purchasing an additional 5,289,124 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in Micron Technology during the second quarter valued at $3,761,237,000. Institutional investors own 80.84% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on MU shares. Royal Bank Of Canada reiterated an “outperform” rating and set a $1,500.00 price objective on shares of Micron Technology in a research report on Thursday, October 1st. Daiwa Securities Group boosted their target price on shares of Micron Technology from $1,600.00 to $1,700.00 and gave the stock a “buy” rating in a report on Friday, July 17th. BMO Capital Markets restated an “outperform” rating on shares of Micron Technology in a research report on Thursday, October 1st. President Capital upped their target price on shares of Micron Technology to $1,500.00 and gave the company a “buy” rating in a research report on Friday, July 17th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $1,600.00 price target on shares of Micron Technology in a report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,407.88.

Key Micron Technology News

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

• Positive Sentiment: Memory stocks recovered as investors rotated back into semiconductor shares, with easing oil prices also helping risk appetite. Why are Micron, SK Hynix, and SanDisk stocks rising on Tuesday?
• Positive Sentiment: AI’s growing need for memory could support Micron’s opportunity: the article highlights memory’s importance to AI performance and the company’s potential to compete on value. Micron Said “Super Intelligence” Creates the Most Compelling Opportunity in Its History
• Positive Sentiment: Micron could step up share repurchases starting in December after Chips Act restrictions expire, potentially adding support for shareholder returns and demand for the stock. Micron Expected to Launch Massive Stock Buybacks in December
• Neutral Sentiment: Some analysts see substantial upside after the pullback, though the coverage cautions that memory-stock rallies have been difficult to sustain. Micron Stock Is in a Slump but Analysts Say It Can Soar 100%
• Negative Sentiment: Investor Dan Niles warned that Chinese memory maker CXMT is targeting a 20% share by 2028, raising the prospect of increased competition for Micron. Micron’s Real Risk: China’s CXMT Targets “20% by 2028,” Warns Dan Niles
• Negative Sentiment: Recent concerns about the memory cycle remain: a cautious outlook from Kioxia weighed on Micron and other memory shares in the prior session, while one commentator argued AI-chip stocks may not have fallen enough. Micron Falls as Kioxia’s Cautious Outlook Hits Memory Stocks

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the completion of the transaction, the chief executive officer directly owned 264,503 shares of the company’s stock, valued at approximately $256,276,956.70. The trade was a 13.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the transaction, the executive vice president owned 191,021 shares in the company, valued at $178,469,010.09. The trade was a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 83,545 shares of company stock worth $78,460,850. 0.24% of the stock is currently owned by insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $855.10 on Wednesday. The stock’s fifty day moving average is $974.91 and its 200 day moving average is $749.61. Micron Technology, Inc. has a fifty-two week low of $192.59 and a fifty-two week high of $1,255.00. The firm has a market capitalization of $967.48 billion, a PE ratio of 11.52, a PEG ratio of 0.14 and a beta of 2.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.94 and a current ratio of 3.31.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 EPS for the quarter, topping the consensus estimate of $31.77 by $1.65. The company had revenue of $54.23 billion during the quarter, compared to analyst estimates of $51.33 billion. Micron Technology had a net margin of 63.80% and a return on equity of 92.62%. Micron Technology’s quarterly revenue was up 379.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, sell-side analysts anticipate that Micron Technology, Inc. will post 177.03 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, October 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio is currently 0.81%.

Micron Technology Company Profile

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.