Micron Technology, Inc. $MU Position Increased by Busey Bank

Busey Bank raised its position in Micron Technology, Inc. (NASDAQ:MU) by 35.6% during the third quarter, Holdings Channel reports. The fund owned 56,613 shares of the semiconductor manufacturer’s stock after acquiring an additional 14,868 shares during the period. Micron Technology comprises approximately 1.4% of Busey Bank’s investment portfolio, making the stock its 19th biggest position. Busey Bank’s holdings in Micron Technology were worth $60,299,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MU. M & L Capital Management Ltd increased its holdings in Micron Technology by 30.1% during the third quarter. M & L Capital Management Ltd now owns 54,313 shares of the semiconductor manufacturer’s stock valued at $57,849,000 after buying an additional 12,550 shares during the last quarter. Generali Asset Management SPA SGR raised its position in Micron Technology by 3.3% in the third quarter. Generali Asset Management SPA SGR now owns 60,420 shares of the semiconductor manufacturer’s stock worth $64,354,000 after acquiring an additional 1,936 shares during the period. Jacobsen Capital Management boosted its stake in shares of Micron Technology by 0.7% during the 3rd quarter. Jacobsen Capital Management now owns 2,492 shares of the semiconductor manufacturer’s stock worth $2,654,000 after acquiring an additional 17 shares during the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Micron Technology by 0.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 534,799 shares of the semiconductor manufacturer’s stock worth $569,620,000 after acquiring an additional 4,645 shares during the last quarter. Finally, Investment Advisory Services Inc. TX ADV boosted its stake in shares of Micron Technology by 4.2% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 443 shares of the semiconductor manufacturer’s stock worth $472,000 after acquiring an additional 18 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology News Roundup

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Elon Musk predicted that humanoid robots could require enormous amounts of memory, prompting analysts to frame robotics as a potentially significant long-term volume opportunity for Micron and SK hynix. Separate forecasts suggest humanoid robots could use substantially more memory by 2030. Elon Musk Says Robots Will Need More Memory
• Positive Sentiment: Bank of America reiterated its buy rating and became more constructive on memory following meetings with industry executives. The firm believes customers are increasingly securing supply through long-term agreements, supporting pricing and visibility for Micron. Bank of America Reiterates Buy on Micron
• Positive Sentiment: Micron’s recent earnings beat and record results continue to support the bullish case. Strong AI-related high-bandwidth-memory demand, tight supply, and favorable earnings expectations have led some analysts to argue that the stock remains inexpensive relative to its growth potential. Can Micron Survive a 40% Drop in Memory Prices?
• Positive Sentiment: Micron’s new employee bonus plan may help align compensation with company performance and support retention as the business expands its AI-memory capacity. Micron Unveils a New Bonus Plan

Micron Technology Price Performance

MU opened at $928.76 on Wednesday. The firm has a market cap of $1.05 trillion, a P/E ratio of 12.52 and a beta of 2.22. Micron Technology, Inc. has a 1-year low of $192.59 and a 1-year high of $1,255.00. The company has a 50 day simple moving average of $979.69 and a two-hundred day simple moving average of $735.60.

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, topping analysts’ consensus estimates of $31.77 by $1.65. The firm had revenue of $54.23 billion during the quarter, compared to analysts’ expectations of $51.33 billion. The business’s revenue for the quarter was up 379.1% on a year-over-year basis. During the same period last year, the company earned $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Equities analysts anticipate that Micron Technology, Inc. will post 177.03 earnings per share for the current year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Wednesday, October 14th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, October 14th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology’s dividend payout ratio is currently 0.81%.

Insiders Place Their Bets

In other news, insider Scott Deboer sold 28,545 shares of the business’s stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $900.00, for a total value of $25,690,500.00. Following the transaction, the insider directly owned 147,430 shares in the company, valued at $132,687,000. The trade was 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, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction dated 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 directly owned 264,503 shares of the company’s stock, valued at approximately $256,276,956.70. This trade represents a 13.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 83,545 shares of company stock worth $78,460,850. Corporate insiders own 0.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. New Street Research raised shares of Micron Technology from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $470.00 to $1,250.00 in a research report on Friday, August 14th. TD Cowen reiterated a “buy” rating and set a $1,600.00 target price on shares of Micron Technology in a research report on Thursday, October 1st. UBS Group reiterated a “buy” rating and set a $1,625.00 target price (up from $535.00) on shares of Micron Technology in a research report on Wednesday, September 23rd. William Blair set a $1,300.00 price target on Micron Technology in a report on Thursday, October 1st. Finally, Weiss Ratings upgraded Micron Technology from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, October 12th. One analyst has rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,407.88.

Micron Technology Profile

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.