Crystal Cove Asset Management LLC Acquires New Position in Micron Technology, Inc. $MU

Crystal Cove Asset Management LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,118 shares of the semiconductor manufacturer’s stock, valued at approximately $1,191,000. Micron Technology comprises approximately 1.8% of Crystal Cove Asset Management LLC’s investment portfolio, making the stock its 6th largest position.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Andar Capital Management HK Ltd lifted its position in shares of Micron Technology by 856,960.3% during the 2nd quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer’s stock worth $39,571,847,000 after buying an additional 34,278,413 shares during the last quarter. Primecap Management Co. CA bought a new position in Micron Technology in the second quarter valued at about $22,182,263,000. Bank of America Corp DE grew its position in Micron Technology by 26.6% in the second quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer’s stock valued at $11,744,621,000 after acquiring an additional 2,136,470 shares during the last quarter. Legal & General Group Plc bought a new position in Micron Technology in the second quarter valued at about $8,402,393,000. Finally, Dimensional Fund Advisors LP raised its stake in Micron Technology by 1.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,967,065 shares of the semiconductor manufacturer’s stock worth $2,352,282,000 after acquiring an additional 86,488 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors.

Micron Technology News Roundup

Here’s some of the latest news about MU:

• Positive Sentiment: Micron’s record results and strong outlook support the growth case: coverage cited roughly $61.5 billion in quarterly revenue guidance, while its latest reported quarterly sales rose about 380% year over year. AI-related demand and tight supply of high-bandwidth memory are key potential tailwinds. Micron Is Down 20% in a Month
• Positive Sentiment: ETF buying provided a modest demand signal, with 59 funds adding Micron shares and 14 selling on Wednesday, for reported net purchases of $137.7 million. ETFs Bought $137.7 Million of Micron
• Neutral Sentiment: Analysts and market commentary say a sustained recovery will depend on memory pricing and whether AI-driven demand holds up; Micron’s shares have also been unusually volatile, leaving sentiment fragile. Micron Stocks Fall as Nvidia CEO Exit Drags Memory Shares Lower

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MU shares. Wedbush reissued an “outperform” rating and issued a $1,400.00 target price on shares of Micron Technology in a report on Monday, September 28th. Mizuho raised their price target on shares of Micron Technology from $1,300.00 to $1,400.00 and gave the company an “outperform” rating in a research note on Thursday, October 1st. CLSA reaffirmed an “outperform” rating and set a $1,700.00 price target on shares of Micron Technology in a report on Friday, October 2nd. TD Cowen reiterated a “buy” rating and set a $1,600.00 price objective on shares of Micron Technology in a research report on Thursday, October 1st. Finally, Susquehanna reissued a “positive” rating on shares of Micron Technology in a research note on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, forty have given a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,435.58.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $968.90, for a total value of $38,756,000.00. Following the completion of the transaction, the chief executive officer owned 264,503 shares of the company’s stock, valued at $256,276,956.70. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Sumit Sadana sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president owned 191,021 shares of the company’s stock, valued at approximately $178,469,010.09. This trade represents a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 83,545 shares of company stock worth $78,460,850. Insiders own 0.24% of the company’s stock.

Micron Technology Trading Down 2.5%

Shares of MU stock opened at $778.31 on Friday. The firm has a market capitalization of $880.60 billion, a P/E ratio of 10.49, a P/E/G ratio of 0.14 and a beta of 2.36. Micron Technology, Inc. has a twelve month low of $192.59 and a twelve month high of $1,255.00. The company has a quick ratio of 2.94, a current ratio of 3.31 and a debt-to-equity ratio of 0.03. The stock’s fifty day simple moving average is $943.73 and its 200 day simple moving average is $764.29.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $31.77 by $1.65. The business had revenue of $54.23 billion during the quarter, compared to analysts’ expectations of $51.33 billion. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The business’s revenue for the quarter was up 379.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.03 EPS. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 174.19 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th were issued 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 was Wednesday, October 14th. Micron Technology’s payout ratio is 0.81%.

About Micron Technology

Micron Technology is a semiconductor company that designs and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, and other memory solutions used in computing and electronic devices. Micron’s products serve a range of markets, including data centers, personal computers, smartphones, automotive systems, and industrial applications. The company sells its products and solutions to customers around the world.