Cidel Asset Management Inc. Acquires 267 Shares of Micron Technology, Inc. $MU

Cidel Asset Management Inc. raised its holdings in Micron Technology, Inc. (NASDAQ:MU) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 21,832 shares of the semiconductor manufacturer’s stock after acquiring an additional 267 shares during the quarter. Cidel Asset Management Inc.’s holdings in Micron Technology were worth $2,691,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Nuveen LLC bought a new position in Micron Technology during the 1st quarter worth $369,191,000. Vanguard Group Inc. grew its position in shares of Micron Technology by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer’s stock valued at $8,854,644,000 after buying an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer’s stock valued at $922,467,000 after buying an additional 2,038,641 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Micron Technology by 26.3% during the first quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer’s stock worth $590,807,000 after acquiring an additional 1,416,174 shares during the last quarter. Finally, Keystone Investors PTE Ltd. bought a new position in shares of Micron Technology during the first quarter worth about $96,253,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 30th. The stock was sold at an average price of $164.04, for a total value of $2,460,600.00. Following the completion of the sale, the executive vice president owned 131,580 shares of the company’s stock, valued at approximately $21,584,383.20. This trade represents a 10.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of the business’s stock in a transaction that occurred on Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the sale, the director owned 96,031 shares of the company’s stock, valued at approximately $14,950,106.08. This represents a 5.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 146,956 shares of company stock worth $22,841,025 in the last three months. Insiders own 0.30% of the company’s stock.

Analysts Set New Price Targets

MU has been the topic of several analyst reports. KGI Securities upgraded Micron Technology from a “hold” rating to a “strong-buy” rating in a report on Wednesday, September 24th. Piper Sandler upped their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, September 24th. Barclays increased their price objective on shares of Micron Technology from $140.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, September 19th. Wolfe Research boosted their target price on shares of Micron Technology from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Finally, TD Cowen upped their price target on shares of Micron Technology from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Friday, September 19th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $198.32.

Micron Technology Stock Down 0.1%

Micron Technology stock opened at $202.38 on Friday. The company has a market capitalization of $227.17 billion, a PE ratio of 26.66, a PEG ratio of 0.45 and a beta of 1.56. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $206.34. The firm’s fifty day moving average is $151.20 and its 200 day moving average is $117.70. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, meeting the consensus estimate of $2.86. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The firm had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the previous year, the firm posted $1.18 earnings per share. The business’s revenue was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology’s dividend payout ratio is 6.06%.

Micron Technology Company Profile

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.