Humankind Investments Acquires $294,000 Stake in Micron Technology

Humankind Investments LLC has made a significant investment in Micron Technology, Inc. (NASDAQ: MU), acquiring 2,383 shares of the semiconductor manufacturer during the second quarter of 2023. This purchase is valued at approximately $294,000, as reported in the company’s recent Form 13F filing with the U.S. Securities and Exchange Commission.

The investment landscape for Micron Technology has seen considerable activity recently, with several large institutional investors adjusting their positions. For instance, Vanguard Group Inc. increased its stake by 1.9%, now holding 103,879,662 shares, worth about $12.8 billion. Similarly, State Street Corp. raised its holdings by 2.7% to 51,373,591 shares, valued at approximately $6.3 billion. Geode Capital Management LLC also increased its position by 1.2%, owning 25,690,491 shares now worth $3.15 billion.

Norges Bank has entered the fray with a newly acquired stake estimated at $1.98 billion. Invesco Ltd. also augmented its shareholding by 3.2%, now owning 8,913,450 shares valued at about $1.1 billion. Collectively, institutional investors and hedge funds now control 80.84% of Micron’s stock.

Insider Trading Activity

Recent insider trading activity has also attracted attention. CEO Sanjay Mehrotra sold 3,743 shares on November 7, 2023, at an average price of $233.39, amounting to $873,578.77. Following this transaction, Mehrotra retains 396,578 shares valued at approximately $92.56 million. This sale represents a 0.93% decrease in his holdings.

Additionally, Executive Vice President Scott J. Deboer sold 82,000 shares on October 27, 2023, for a total of $18.27 million at an average price of $222.81. Deboer now owns 154,145 shares, reflecting a significant 34.72% reduction in his ownership. Over the past three months, insiders have sold 392,352 shares worth $82.99 million, with insider ownership now at 0.24%.

Recent Financial Performance

Micron Technology’s stock has experienced a decline of 6.7% following its latest quarterly earnings report issued on September 23, 2023. The company reported earnings of $3.03 per share, exceeding analysts’ expectations of $2.86 by $0.17. Revenues for the quarter reached $11.32 billion, surpassing projections of $11.05 billion. Year-over-year, Micron saw a revenue increase of 46.1% compared to the same quarter in the previous year, which had posted earnings of $1.18 per share.

Looking ahead, Micron has provided guidance for the first quarter of 2026, projecting earnings per share between $3.600 and $3.900. Analysts currently forecast an annual earnings per share of $6.08 for the company.

Dividend Announcement and Analyst Ratings

In addition to its financial reports, Micron Technology recently declared a quarterly dividend of $0.115 per share, which was paid on October 21, 2023. Shareholders of record as of October 3, 2023, received this dividend, reflecting an annualized dividend of $0.46 and a yield of 0.2%. The company’s current payout ratio stands at 6.06%.

Wall Street analysts have mixed views on Micron Technology. HSBC initiated coverage with a “buy” rating and a target price of $330.00. New Street Research maintained a “neutral” rating, while Deutsche Bank raised its target from $200.00 to $280.00, also issuing a “buy” rating. Needham & Company LLC and KeyCorp have set target prices of $200.00 and $215.00, respectively.

Overall, the investment community displays a positive outlook on Micron, with five analysts giving a “Strong Buy” rating, twenty-nine a “Buy” rating, and three a “Hold” rating. The consensus target price for the stock currently sits at $236.59, based on data from MarketBeat.

Micron Technology, Inc. continues to design, develop, and manufacture memory and storage products globally, operating through four segments: Compute and Networking, Mobile, Embedded, and Storage Business Units. The company provides a range of products, including dynamic random-access memory and non-volatile storage devices, under the Micron and Crucial brands.