Micron Technology, Inc. $MU Position Trimmed by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 11.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 192,994 shares of the semiconductor manufacturer’s stock after selling 24,576 shares during the quarter. Micron Technology accounts for 2.3% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 5th biggest position. Pinnacle Associates Ltd.’s holdings in Micron Technology were worth $205,559,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Denali Advisors LLC acquired a new position in shares of Micron Technology during the second quarter worth $7,364,000. Castleark Management LLC purchased a new position in shares of Micron Technology in the first quarter valued at $3,709,000. Oppenheimer & Co. Inc. grew its holdings in Micron Technology by 16.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 48,520 shares of the semiconductor manufacturer’s stock valued at $56,006,000 after purchasing an additional 6,702 shares in the last quarter. Legacy Wealth Management LLC MS grew its holdings in Micron Technology by 73.3% during the 2nd quarter. Legacy Wealth Management LLC MS now owns 3,544 shares of the semiconductor manufacturer’s stock valued at $4,091,000 after purchasing an additional 1,499 shares in the last quarter. Finally, Franklin Street Advisors Inc. NC increased its stake in Micron Technology by 2,461.4% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 37,141 shares of the semiconductor manufacturer’s stock worth $42,871,000 after buying an additional 35,691 shares during the period. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Up 2.0%

Shares of NASDAQ:MU opened at $913.67 on Thursday. The company has a current ratio of 3.31, a quick ratio of 2.94 and a debt-to-equity ratio of 0.03. The company has a fifty day simple moving average of $987.36 and a 200 day simple moving average of $876.61. The firm has a market cap of $1.03 trillion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 0.16 and a beta of 2.22. Micron Technology, Inc. has a 12-month low of $192.40 and a 12-month high of $1,255.00.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 EPS for the quarter, beating analysts’ consensus estimates of $31.77 by $1.65. Micron Technology had a net margin of 63.80% and a return on equity of 92.62%. The firm had revenue of $54.23 billion for the quarter, compared to the consensus estimate of $51.33 billion. During the same period in the prior year, the firm posted $3.03 EPS. The firm’s revenue was up 379.1% compared to the same quarter last year. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, equities research analysts anticipate that Micron Technology, Inc. will post 177.03 EPS for the current fiscal year.

Micron Technology Announces Dividend

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

Key Stories Impacting Micron Technology

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

• Positive Sentiment: At its technology presentation, Micron highlighted progress in DRAM, high-bandwidth memory (HBM), NAND and next-generation 3D DRAM. New products planned for 2027 and growing AI-related demand reinforce the company’s position as a key supplier to data-center and high-performance-computing customers. Micron AI-era technology presentation
• Positive Sentiment: ASML said semiconductor and memory demand could exceed supply through at least 2028. That outlook supports the bullish case for continued pricing power, elevated margins and strong demand for Micron’s memory products. ASML demand outlook
• Positive Sentiment: Recent results remain a major catalyst: Micron reported $33.42 in quarterly EPS versus a $31.77 estimate, while revenue rose 379.1% year over year. Management’s next-quarter guidance and analysts’ expectations for continued supply tightness are supporting confidence in further earnings growth.
• Positive Sentiment: Micron reached a labor-management agreement with one Taiwan union, reducing some immediate disruption risk. The company also invested in U.S. indium and critical-materials processing to strengthen supplies for advanced memory manufacturing. Micron Taiwan union agreement
• Neutral Sentiment: Institutional buying and approximately $326.9 million in reported ETF inflows point to continued investor demand, although Micron’s more than 200% year-to-date rally has increased profit-taking risk. Micron ETF buying
• Negative Sentiment: A separate Taiwan union has threatened a strike over bonuses, creating a risk of higher labor costs or production delays. In addition, an insider sold 28,545 shares for about $25.7 million, while investors remain concerned that new capacity, Chinese competitor CXMT and stretched AI valuations could eventually pressure pricing and margins. Micron insider sale

Insider Activity

In other news, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total value of $14,014,350.00. Following the sale, the executive vice president owned 191,021 shares in the company, valued at approximately $178,469,010.09. This represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction dated Friday, August 21st. The stock was 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 123,545 shares of company stock worth $115,750,966. 0.24% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MU shares. Rosenblatt Securities reiterated a “buy” rating and issued a $1,900.00 price objective on shares of Micron Technology in a report on Tuesday, October 13th. Cantor Fitzgerald restated an “overweight” rating and set a $2,000.00 target price on shares of Micron Technology in a research note on Thursday, October 1st. Wolfe Research set a $1,500.00 target price on Micron Technology in a research note on Thursday, June 25th. Argus dropped their target price on Micron Technology from $1,500.00 to $540.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Erste Group Bank upgraded Micron Technology from a “hold” rating to a “buy” rating in a research note on Thursday, June 25th. One 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 company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $1,407.88.

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.