Micron Technology, Inc. $MU Stock: Fifth Third Bancorp Raises Position

Fifth Third Bancorp boosted its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 21.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 362,102 shares of the semiconductor manufacturer’s stock after buying an additional 63,465 shares during the period. Fifth Third Bancorp’s holdings in Micron Technology were worth $385,679,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Three Bridge Wealth Advisors LLC acquired a new position in shares of Micron Technology in the third quarter worth $49,000. Artemis Wealth Advisors LLC grew its stake in shares of Micron Technology by 3.6% in the 3rd quarter. Artemis Wealth Advisors LLC now owns 5,700 shares of the semiconductor manufacturer’s stock valued at $6,071,000 after buying an additional 200 shares in the last quarter. Endeavor Private Wealth Inc. raised its position in Micron Technology by 131.9% during the third quarter. Endeavor Private Wealth Inc. now owns 480 shares of the semiconductor manufacturer’s stock valued at $511,000 after acquiring an additional 273 shares in the last quarter. King Luther Capital Management Corp lifted its stake in shares of Micron Technology by 7.8% in the 3rd quarter. King Luther Capital Management Corp now owns 18,050 shares of the semiconductor manufacturer’s stock valued at $19,225,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Spectrum Planning & Advisory Services Inc. acquired a new position in Micron Technology during the third quarter worth $481,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Performance

NASDAQ MU opened at $811.30 on Thursday. 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 has a market cap of $917.92 billion, a P/E ratio of 10.93, a PEG ratio of 0.13 and a beta of 2.36. The company’s 50-day simple moving average is $950.48 and its 200 day simple moving average is $760.41.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, beating analysts’ consensus estimates of $31.77 by $1.65. The company had revenue of $54.23 billion for the quarter, compared to the consensus estimate of $51.33 billion. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The company’s quarterly revenue was up 379.1% on a year-over-year basis. During the same period in the previous year, the business earned $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 175.22 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $1,500.00 price target on shares of Micron Technology in a research note on Thursday, October 1st. BMO Capital Markets reissued an “outperform” rating on shares of Micron Technology in a research report on Thursday, October 1st. Weiss Ratings lowered shares of Micron Technology from a “buy (b+)” rating to a “buy (b)” rating in a research note on Tuesday, October 27th. Seaport Research Partners reiterated a “buy” rating on shares of Micron Technology in a research note on Friday, August 14th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $1,400.00 target price on shares of Micron Technology in a report on Monday, September 28th. One equities research analyst has rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,407.88.

More Micron Technology News

Investors following MU have been watching these news items:

• Positive Sentiment: AI-related business ties drew attention. Micron is among suppliers participating in Anthropic’s private placement, a development that may deepen its relationship with a major AI customer. Article: Micron Stocks Jump as Memory Rebound Meets Anthropic Placement
• Neutral Sentiment: Analyst opinions are mixed. While Goldman is bullish on Micron’s valuation, it reportedly sees better value in some memory rivals. Bank of America also removed MU from its top-picks list, though it kept a Buy rating. Article: Micron Is Rebounding. Goldman Prefers These Memory Stocks
• Negative Sentiment: Cyclical and spending concerns remain. MU’s steep recent sell-off reflects investor worry that AI data-center investment could cool and that memory pricing and profits may eventually turn down. Those risks could limit the rebound if demand expectations weaken. Article: Is the Micron Sell-Off a Buying Opportunity or a Falling Knife?

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $968.90, for a total value of $38,756,000.00. Following the transaction, the chief executive officer directly owned 264,503 shares in the company, valued at $256,276,956.70. The trade was a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott J. Deboer sold 28,545 shares of Micron Technology 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 completion of the transaction, the insider owned 147,430 shares of the company’s stock, valued at $132,687,000. This trade represents a 16.22% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 83,545 shares of company stock worth $78,460,850. Corporate insiders own 0.24% of the company’s stock.

Micron Technology Company Profile

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.