Micron Technology, Inc. $MU Shares Bought by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 29,016.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,241 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,223 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in Micron Technology were worth $5,582,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Andar Capital Management HK Ltd raised its holdings in shares of Micron Technology by 856,960.3% during the 2nd 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 buying an additional 34,278,413 shares during the period. Primecap Management Co. CA acquired a new position in Micron Technology during the 2nd quarter worth approximately $22,182,263,000. Legal & General Group Plc purchased a new position in Micron Technology in the 2nd quarter worth approximately $8,402,393,000. Situational Awareness LP boosted its holdings 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 acquiring an additional 5,289,124 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Micron Technology in the 2nd quarter worth approximately $3,761,237,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $855.10 on Wednesday. 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 fifty-two week low of $192.59 and a fifty-two week high of $1,255.00. The business has a 50 day moving average price of $974.91 and a two-hundred day moving average price of $749.61. The firm has a market cap of $967.48 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 0.14 and a beta of 2.36.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $31.77 by $1.65. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The company had revenue of $54.23 billion for the quarter, compared to analyst estimates of $51.33 billion. During the same period in the prior year, the company posted $3.03 EPS. 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. Sell-side analysts expect that Micron Technology, Inc. will post 177.03 earnings per share for the current fiscal 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 paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 14th. Micron Technology’s payout ratio is 0.81%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MU shares. Weiss Ratings downgraded shares of Micron Technology from a “buy (b+)” rating to a “buy (b)” rating in a research report on Tuesday, October 27th. TD Cowen reissued a “buy” rating and set a $1,600.00 target price on shares of Micron Technology in a research report on Thursday, October 1st. Raymond James Financial restated an “outperform” rating on shares of Micron Technology in a research note on Thursday, October 1st. Robert W. Baird raised their price target on shares of Micron Technology from $1,280.00 to $1,520.00 and gave the company an “outperform” rating in a report on Monday, September 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $2,000.00 price target on shares of Micron Technology in a research note on Thursday, October 1st. One 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 stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Moderate Buy” and an average target price of $1,407.88.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s 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 $256,276,956.70. This represents a 13.14% 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, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction 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 directly owned 191,021 shares in the company, valued at $178,469,010.09. This represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 83,545 shares of company stock worth $78,460,850. Insiders own 0.24% of the company’s stock.

Micron Technology News Roundup

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

• Positive Sentiment: Memory stocks recovered as investors rotated back into semiconductor shares, with easing oil prices also helping risk appetite. Why are Micron, SK Hynix, and SanDisk stocks rising on Tuesday?
• Positive Sentiment: AI’s growing need for memory could support Micron’s opportunity: the article highlights memory’s importance to AI performance and the company’s potential to compete on value. Micron Said “Super Intelligence” Creates the Most Compelling Opportunity in Its History
• Positive Sentiment: Micron could step up share repurchases starting in December after Chips Act restrictions expire, potentially adding support for shareholder returns and demand for the stock. Micron Expected to Launch Massive Stock Buybacks in December
• Neutral Sentiment: Some analysts see substantial upside after the pullback, though the coverage cautions that memory-stock rallies have been difficult to sustain. Micron Stock Is in a Slump but Analysts Say It Can Soar 100%
• Negative Sentiment: Investor Dan Niles warned that Chinese memory maker CXMT is targeting a 20% share by 2028, raising the prospect of increased competition for Micron. Micron’s Real Risk: China’s CXMT Targets “20% by 2028,” Warns Dan Niles
• Negative Sentiment: Recent concerns about the memory cycle remain: a cautious outlook from Kioxia weighed on Micron and other memory shares in the prior session, while one commentator argued AI-chip stocks may not have fallen enough. Micron Falls as Kioxia’s Cautious Outlook Hits Memory Stocks

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.