Brandes Investment Partners 13F: Cuts MU Stake by $230M

Brandes Investment Partners Cuts Micron Position

Brandes Investment Partners reduced its stake in memory-chip manufacturer Micron Technology, Inc. (NASDAQ: MU) by 33.7% during the latest reporting period, according to its Form 13F filing with the Securities and Exchange Commission. The firm sold 199,531 shares during the quarter, leaving it with 391,792 shares.

Because 13F filings are backward-looking documents, this transaction reflects the fund's holdings as of May 15, 2026. It may not reflect the investment manager's current portfolio today.

Details on the Trimming

Before this adjustment, Brandes Investment Partners held 591,323 shares of the Boise, Idaho-based semiconductor company. After selling off more than a third of its position, the fund's remaining stake was valued at $452.24 million at the end of the reporting period. The fund established its holdings with an average cost basis of $71.63 per share, meaning the position still represents a highly profitable investment despite the partial exit.

Micron Stock Trends upward

On Saturday, Micron shares closed at $1,154.29, showing massive appreciation from the fund's initial cost basis. The stock has traded in a wide 52-week range of $192.40 to $1,255.00. Investors watching the technical health of the semiconductor giant will note that the current price rests well above its 50-day moving average of $983.17 and its 200-day moving average of $714.91. The business carries a price-to-earnings ratio of 12.5 and a forward P/E of 4.6, indicating that analysts expect earnings to rise in the coming quarters.

Recent Earnings and Financial Health

Micron generated $133.19 billion in revenue over the last twelve months, achieving a net margin of 63.8% and a return on equity of 88.3%. The company possesses a current ratio of 3.3, showing robust short-term liquidity, and carries a debt-to-equity ratio of 3.7. Micron's next major financial update is scheduled for December 23, 2026, when it will release its next quarterly earnings report.

Micron Dividend Details

In addition to capital appreciation, Micron provides a modest return to its shareholders through cash dividends. The company currently pays a dividend yield of 0.06%. Micron maintains a conservative dividend payout ratio of 0.7%, indicating that leadership prefers to reinvest almost all of its massive net earnings back into research, development, and scaling fabrication facilities.

Insider Buying and Selling at Micron Technology, Inc.

Executive trading activity at the company shows a minor automated transaction. On October 14, 2026, Senior Vice President and Chief Legal Officer Ray Michael Charles sold 40 shares at an average price of $947.29, totaling $37,891.60. This sale was conducted under a pre-arranged Rule 10b5-1 trading plan, which allows corporate insiders to sell a predetermined number of shares at set times to avoid conflicts of interest.

Analysts Set New Price Targets

Wall Street research firms remain highly optimistic about the semiconductor pioneer. On October 13, 2026, Rosenblatt maintained its buy rating with a price target of $1,900.00. On October 7, 2026, DA Davidson maintained its buy rating and raised its price target from $2,100.00 to a bullish $3,000.00. Other firms reiterated positive views earlier in October, including Mizuho with a $1,400.00 target, TD Cowen with a $1,600.00 target, and RBC Capital with a $1,500.00 target. Out of 46 analyst opinions, the consensus recommendation is a strong buy, with an average target price of $1,560.57.

About Micron Technology

Micron Technology is one of the world's largest manufacturers of computer memory and data storage chips. The company produces dynamic random-access memory (DRAM) and flash memory (NAND) used in everything from mobile phones and personal computers to advanced cloud data centers and automotive systems. As artificial intelligence applications demand faster, more efficient memory systems, Micron's high-bandwidth products have placed it at the center of the hardware supply chain.

Next Steps for Investors

Market observers will want to watch Micron's upcoming earnings release on December 23, 2026, to see if the company can sustain its high margins. Additionally, upcoming 13F filings from the next reporting cycle will reveal whether Brandes Investment Partners continued to trim its stake or if other institutional managers stepped in to buy the shares.