Micron Technology, Inc. $MU Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 7.2% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 47,942 shares of the semiconductor manufacturer’s stock after acquiring an additional 3,236 shares during the quarter. Park Avenue Securities LLC’s holdings in Micron Technology were worth $51,064,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Andar Capital Management HK Ltd lifted its holdings in shares of Micron Technology by 856,960.3% during the second quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer’s stock valued at $39,571,847,000 after purchasing an additional 34,278,413 shares during the last quarter. Primecap Management Co. CA acquired a new position in shares of Micron Technology in the 2nd quarter valued at $22,182,263,000. Legal & General Group Plc purchased a new position in Micron Technology in the 2nd quarter worth about $8,402,393,000. Situational Awareness LP increased its stake in Micron Technology by 1,149.0% in the 2nd quarter. Situational Awareness LP now owns 4,828,786 shares of the semiconductor manufacturer’s stock worth $5,573,819,000 after purchasing an additional 5,289,124 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new position in Micron Technology in the 2nd quarter worth about $3,761,237,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Scott J. Deboer sold 28,545 shares of the firm’s 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 sale, the insider directly owned 147,430 shares in the company, valued at approximately $132,687,000. This trade represents a 16.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $968.90, for a total transaction 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 83,545 shares of company stock worth $78,460,850 in the last 90 days. Company insiders own 0.24% of the company’s stock.

Micron Technology Trading Up 2.8%

Shares of MU stock opened at $928.76 on Wednesday. Micron Technology, Inc. has a 1-year low of $192.59 and a 1-year high of $1,255.00. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 12.52 and a beta of 2.22. The stock’s fifty day simple moving average is $979.69 and its 200-day simple moving average is $735.60.

Micron Technology (NASDAQ:MU) last posted its quarterly 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. The business had revenue of $54.23 billion for the quarter, compared to analyst estimates of $51.33 billion. The firm’s quarterly revenue was up 379.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 177.03 EPS for the current year.

Micron Technology Announces Dividend

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $1,500.00 price objective on shares of Micron Technology in a research note on Thursday, October 1st. ThinkEquity reiterated a “buy” rating on shares of Micron Technology in a report on Monday, August 3rd. DA Davidson lifted their target price on shares of Micron Technology from $2,100.00 to $3,000.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $2,000.00 target price on shares of Micron Technology in a research report on Thursday, October 1st. Finally, Weiss Ratings upgraded shares of Micron Technology from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 12th. One research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Micron Technology currently has a consensus rating of “Moderate Buy” and an average target price of $1,407.88.

More Micron Technology News

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

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.