Micron Technology, Inc. $MU Position Lifted by TOWER TRUST & INVESTMENT Co

TOWER TRUST & INVESTMENT Co boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 1,743.2% in the third quarter, Holdings Channel.com reports. The firm owned 1,493 shares of the semiconductor manufacturer’s stock after buying an additional 1,412 shares during the quarter. Micron Technology comprises approximately 0.9% of TOWER TRUST & INVESTMENT Co’s investment portfolio, making the stock its 21st largest position. TOWER TRUST & INVESTMENT Co’s holdings in Micron Technology were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Childress Capital Advisors LLC boosted its holdings in shares of Micron Technology by 4.1% during the 3rd quarter. Childress Capital Advisors LLC now owns 4,203 shares of the semiconductor manufacturer’s stock valued at $4,477,000 after buying an additional 166 shares in the last quarter. D.A. Davidson & CO. grew its stake in shares of Micron Technology by 12.4% in the 3rd quarter. D.A. Davidson & CO. now owns 63,312 shares of the semiconductor manufacturer’s stock worth $67,435,000 after buying an additional 6,972 shares during the last quarter. Garrison Bradford & Associates Inc. bought a new position in Micron Technology during the 3rd quarter valued at approximately $1,183,000. BOKF NA raised its stake in Micron Technology by 2.9% during the third quarter. BOKF NA now owns 46,353 shares of the semiconductor manufacturer’s stock valued at $49,371,000 after buying an additional 1,296 shares during the last quarter. Finally, Motley Fool Asset Management LLC purchased a new position in Micron Technology during the third quarter valued at $83,540,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology News Summary

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

• Positive Sentiment: Micron’s long-term outlook remains favorable. The company has reportedly secured most of next year’s shipments through customer agreements, while multi-year take-or-pay contracts cover more than 35% of revenue through 2030 and include approximately $32 billion in customer commitments. Micron Is Trading for Less Than 6 Times Forward Earnings. Here’s Why That’s a Sign to Buy.
• Positive Sentiment: Analysts and financial commentators continue to view MU as attractively valued at fewer than six times forward earnings, with expectations for sustained growth as data-center, AI, and high-bandwidth-memory demand outpaces supply. Micron: Priced For A Peak That Keeps Moving Higher
• Positive Sentiment: Strong results from SK Hynix indicated that DRAM and HBM demand could remain ahead of supply through 2029 or 2030, supporting the industry’s pricing environment and Micron’s earnings potential. Micron Stock Rises as SK Hynix Says DRAM and HBM Are Sold Out

Insider Transactions at Micron Technology

In other news, EVP Sumit Sadana sold 15,000 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $178,469,010.09. This trade represents a 7.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the completion of the sale, the chief executive officer directly owned 264,503 shares in the company, valued at $256,276,956.70. This trade represents a 13.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 83,545 shares of company stock worth $78,460,850. 0.24% of the stock is currently owned by insiders.

Micron Technology Stock Down 5.0%

NASDAQ MU opened at $934.27 on Friday. The company has a quick ratio of 2.94, a current ratio of 3.31 and a debt-to-equity ratio of 0.03. Micron Technology, Inc. has a 52 week low of $192.59 and a 52 week high of $1,255.00. The stock’s 50-day moving average price is $980.48 and its 200-day moving average price is $741.83. The company has a market capitalization of $1.06 trillion, a P/E ratio of 12.59, a price-to-earnings-growth ratio of 0.17 and a beta of 2.22.

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

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. ThinkEquity reissued a “buy” rating on shares of Micron Technology in a report on Monday, August 3rd. DA Davidson raised their price target on Micron Technology from $2,100.00 to $3,000.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. UBS Group reaffirmed a “buy” rating and issued a $1,625.00 price target (up from $535.00) on shares of Micron Technology in a research report on Wednesday, September 23rd. Rosenblatt Securities reiterated a “buy” rating and issued a $1,900.00 price target on shares of Micron Technology in a research note on Thursday, October 22nd. Finally, Arete Research upped their price objective on Micron Technology from $852.00 to $1,500.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $1,407.88.

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.