Micron Technology, Inc. $MU Shares Bought by Trek Financial LLC

Trek Financial LLC boosted its holdings in Micron Technology, Inc. (NASDAQ:MU) by 22.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 29,481 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,484 shares during the period. Micron Technology accounts for approximately 1.5% of Trek Financial LLC’s portfolio, making the stock its 11th largest position. Trek Financial LLC’s holdings in Micron Technology were worth $31,401,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Andar Capital Management HK Ltd raised its position in 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 worth $39,571,847,000 after purchasing an additional 34,278,413 shares in the last quarter. Primecap Management Co. CA acquired a new position in shares of Micron Technology in the 2nd quarter worth approximately $22,182,263,000. Bank of America Corp DE increased its holdings in Micron Technology by 26.6% during the 2nd 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 purchasing an additional 2,136,470 shares in the last quarter. Legal & General Group Plc bought a new stake in shares of Micron Technology during the second quarter worth $8,402,393,000. Finally, Wellington Management Group LLP raised its holdings in shares of Micron Technology by 28.7% in the second quarter. Wellington Management Group LLP now owns 5,045,141 shares of the semiconductor manufacturer’s stock valued at $5,823,556,000 after buying an additional 1,125,414 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on MU shares. DA Davidson increased their price objective on shares of Micron Technology from $2,100.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Morgan Stanley reissued an “overweight” rating and issued a $1,200.00 target price on shares of Micron Technology in a research note on Thursday, October 1st. Mizuho lifted their price target on 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. William Blair set a $1,300.00 price target on Micron Technology in a research report on Thursday, October 1st. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $1,500.00 target price on shares of Micron Technology in a report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, forty-one have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $1,407.88.

Insiders Place Their Bets

In other Micron Technology news, insider Scott J. Deboer sold 28,545 shares of the stock in a transaction that occurred on Friday, October 16th. The shares were sold at an average price of $900.00, for a total transaction of $25,690,500.00. Following the transaction, the insider directly owned 147,430 shares in the company, valued at $132,687,000. This trade represents a 16.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Sumit Sadana sold 15,000 shares of the business’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 value of $14,014,350.00. Following the completion of the sale, the executive vice president owned 191,021 shares of the company’s stock, valued at $178,469,010.09. The trade was a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 83,545 shares of company stock worth $78,460,850 over the last 90 days. Corporate insiders own 0.24% of the company’s stock.

Micron Technology Stock Performance

MU opened at $884.74 on Monday. The firm has a market capitalization of $1.00 trillion, a price-to-earnings ratio of 11.92, a PEG ratio of 0.15 and a beta of 2.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.31 and a quick ratio of 2.94. Micron Technology, Inc. has a fifty-two week low of $192.59 and a fifty-two week high of $1,255.00. The company’s 50 day moving average price is $978.68 and its two-hundred day moving average price is $744.52.

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

Micron Technology Announces Dividend

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

About Micron Technology

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.