Patton Albertson Miller Group LLC increased its position in shares of Micron Technology, Inc. (NASDAQ:MU – Free Report) by 19.6% during the 3rd quarter, Holdings Channel reports. The firm owned 6,228 shares of the semiconductor manufacturer’s stock after acquiring an additional 1,020 shares during the period. Patton Albertson Miller Group LLC’s holdings in Micron Technology were worth $6,634,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Bullseye Investment Management LLC purchased a new stake in shares of Micron Technology during the second quarter worth about $27,000. Aventus Investment Advisors Inc. bought a new position in Micron Technology in the 3rd quarter worth approximately $30,000. Steph & Co. purchased a new stake in Micron Technology during the 3rd quarter valued at approximately $31,000. Montgomery Financial Services LLC purchased a new position in Micron Technology during the second quarter valued at $38,000. Finally, JNBA Financial Advisors increased its holdings in Micron Technology by 77.3% in the 2nd quarter. JNBA Financial Advisors now owns 39 shares of the semiconductor manufacturer’s stock valued at $45,000 after acquiring an additional 17 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.
Micron Technology Trading Up 3.0%
MU stock opened at $903.70 on Tuesday. 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 twelve month low of $192.59 and a twelve month high of $1,255.00. The stock has a market capitalization of $1.02 trillion, a price-to-earnings ratio of 12.18, a price-to-earnings-growth ratio of 0.15 and a beta of 2.22. The firm’s fifty day simple moving average is $982.71 and its two-hundred day simple moving average is $729.85.
Micron Technology (NASDAQ:MU – Get Free Report) last announced its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $31.77 by $1.65. The business had revenue of $54.23 billion during the quarter, compared to analyst estimates of $51.33 billion. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The company’s revenue for the quarter was up 379.1% compared to the same quarter last year. During the same quarter 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, analysts anticipate that Micron Technology, Inc. will post 177.03 earnings per share for the current year.
Micron Technology Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 14th will be 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 is Wednesday, October 14th. Micron Technology’s dividend payout ratio is currently 0.81%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on the company. Royal Bank Of Canada reissued an “outperform” rating and set a $1,500.00 price target on shares of Micron Technology in a research note on Thursday, October 1st. Morgan Stanley reaffirmed an “overweight” rating and issued a $1,200.00 price objective on shares of Micron Technology in a research note on Thursday, October 1st. DA Davidson lifted their price objective on Micron Technology from $2,100.00 to $3,000.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Micron Technology in a report on Thursday, October 1st. Finally, KeyCorp reiterated an “overweight” rating on shares of Micron Technology in a research report on Thursday, October 1st. 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’s stock. According to MarketBeat, Micron Technology has a consensus rating of “Moderate Buy” and an average target price of $1,407.88.
Get Our Latest Stock Analysis on Micron Technology
Key Stories Impacting Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Bank of America became “incrementally more positive” on the memory industry after meetings with executives. The firm said customers are increasingly locking in memory supply through multiyear agreements, improving Micron’s revenue visibility and potentially reducing cyclical volatility. Micron Rises as Bank of America Gets Incrementally More Positive on Memory
- Positive Sentiment: Investors responded favorably to Micron’s defense against concerns over Chinese rival ChangXin Memory Technologies. Micron indicated that CXMT’s 4F square memory design does not currently undermine its competitive position. Micron Stock Finds Its Footing as It Pushes Back on Chinese Memory Threat
- Positive Sentiment: Recent record revenue, profit and gross margin, along with strong forward guidance, have made Micron appear inexpensive relative to its expected earnings growth. High-bandwidth memory demand from artificial-intelligence systems and persistent chip shortages are viewed as potential long-term growth drivers. Micron Just Delivered a Monster Quarter, but the Stock Is Plummeting
- Positive Sentiment: Analyst screens and investor commentary continued to highlight MU’s high profit margins, expected earnings growth and potential to become less dependent on memory-market cycles as customer contracts and AI applications expand. NVIDIA and 2 Profitable Stocks to Buy Now for Explosive Upside
- Neutral Sentiment: Reports noted that Micron’s sharp yearlong rally has been followed by significant corrections across AI-related memory and storage stocks. A potential stock split was discussed, but it would not change the company’s underlying value or fundamentals. Stock-Split Watch: Is Micron Next?
- Negative Sentiment: Bearish commentary warned that a possible 40% decline in memory prices, a peak in the current cycle and weaker hyperscaler capital spending could pressure Micron’s unusually strong earnings. Some analysts also questioned whether new supply contracts provide as much protection as expected. Micron: The New SCA Contracts Are Not As Great As You Think
Insider Transactions at Micron Technology
In other news, EVP Sumit Sadana sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction 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 approximately $178,469,010.09. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction on 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 sale, 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 ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 83,545 shares of company stock valued at $78,460,850. 0.24% of the stock is currently owned by company insiders.
Micron Technology Company 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.
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