Cherokee Insurance Co Acquires New Position in Micron Technology, Inc. $MU

Cherokee Insurance Co bought a new position in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 3,600 shares of the semiconductor manufacturer’s stock, valued at approximately $444,000.

Several other institutional investors also recently bought and sold shares of the business. Achmea Investment Management B.V. purchased a new position in Micron Technology during the second quarter worth about $3,759,000. Cornerstone Investment Partners LLC grew its holdings in Micron Technology by 1.6% in the 2nd quarter. Cornerstone Investment Partners LLC now owns 773,768 shares of the semiconductor manufacturer’s stock valued at $95,367,000 after buying an additional 12,061 shares during the period. KLP Kapitalforvaltning AS increased its stake in shares of Micron Technology by 6.2% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 403,105 shares of the semiconductor manufacturer’s stock valued at $49,683,000 after acquiring an additional 23,600 shares during the last quarter. Moors & Cabot Inc. lifted its holdings in shares of Micron Technology by 6.4% during the 2nd quarter. Moors & Cabot Inc. now owns 23,111 shares of the semiconductor manufacturer’s stock worth $2,848,000 after acquiring an additional 1,386 shares during the period. Finally, Tcfg Wealth Management LLC acquired a new stake in shares of Micron Technology in the second quarter worth approximately $208,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $244.90 on Thursday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $257.07. The company has a market capitalization of $274.89 billion, a price-to-earnings ratio of 32.27, a PEG ratio of 0.51 and a beta of 1.62. The business has a 50-day moving average of $188.99 and a 200-day moving average of $137.44.

Micron Technology (NASDAQ:MU) last announced its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 EPS for the quarter, meeting the consensus estimate of $2.86. The business had revenue of $11.32 billion for the quarter, compared to the consensus estimate of $11.05 billion. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The company’s revenue was up 46.1% on a year-over-year basis. During the same period last year, the business posted $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd were paid a $0.115 dividend. The ex-dividend date was Friday, October 3rd. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio is 6.06%.

Insider Activity

In related news, CAO Scott R. Allen sold 8,800 shares of Micron Technology stock in a transaction on Monday, October 20th. The shares were sold at an average price of $210.02, for a total transaction of $1,848,176.00. Following the sale, the chief accounting officer owned 40,237 shares of the company’s stock, valued at $8,450,574.74. The trade was a 17.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Scott J. Deboer sold 82,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the completion of the transaction, the executive vice president directly owned 154,145 shares of the company’s stock, valued at approximately $34,345,047.45. The trade was a 34.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 409,756 shares of company stock valued at $85,308,033 in the last 90 days. Company insiders own 0.30% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on MU. Morgan Stanley raised shares of Micron Technology from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $160.00 to $220.00 in a research note on Monday, October 6th. KGI Securities raised Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. lifted their target price on Micron Technology from $185.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. BNP Paribas raised Micron Technology from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, October 13th. Finally, Citigroup raised their price objective on Micron Technology from $240.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, October 27th. Five analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $205.64.

About Micron Technology

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.