Choreo LLC raised its position in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 4.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 33,176 shares of the semiconductor manufacturer’s stock after buying an additional 1,350 shares during the quarter. Choreo LLC’s holdings in Micron Technology were worth $35,336,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. Gibbs Wealth Management increased its stake in shares of Micron Technology by 52.7% in the 3rd quarter. Gibbs Wealth Management now owns 6,041 shares of the semiconductor manufacturer’s stock valued at $6,435,000 after purchasing an additional 2,085 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Micron Technology during the 2nd quarter worth $7,364,000. Castleark Management LLC acquired a new position in shares of Micron Technology during the 1st quarter worth $3,709,000. Oppenheimer & Co. Inc. lifted its position in shares of Micron Technology by 16.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 48,520 shares of the semiconductor manufacturer’s stock worth $56,006,000 after buying an additional 6,702 shares during the last quarter. Finally, Legacy Wealth Management LLC MS lifted its position in shares of 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 worth $4,091,000 after buying an additional 1,499 shares during the last quarter. 80.84% of the stock is owned by institutional investors.
Trending Headlines about Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron’s long-term outlook remains favorable. The company has reportedly secured most of next year’s shipments through customer agreements, while multi-year take-or-pay contracts cover more than 35% of revenue through 2030 and include approximately $32 billion in customer commitments. Micron Is Trading for Less Than 6 Times Forward Earnings. Here’s Why That’s a Sign to Buy.
- Positive Sentiment: Analysts and financial commentators continue to view MU as attractively valued at fewer than six times forward earnings, with expectations for sustained growth as data-center, AI, and high-bandwidth-memory demand outpaces supply. Micron: Priced For A Peak That Keeps Moving Higher
- Positive Sentiment: Strong results from SK Hynix indicated that DRAM and HBM demand could remain ahead of supply through 2029 or 2030, supporting the industry’s pricing environment and Micron’s earnings potential. Micron Stock Rises as SK Hynix Says DRAM and HBM Are Sold Out
Analyst Ratings Changes
Several analysts recently weighed in on MU shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Micron Technology in a research note on Thursday, October 1st. ThinkEquity reissued a “buy” rating on shares of Micron Technology in a research note on Monday, August 3rd. Weiss Ratings cut shares of Micron Technology from a “buy (b+)” rating to a “buy (b)” rating in a report on Tuesday. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Micron Technology in a research note on Thursday, October 1st. Finally, Seaport Research Partners reaffirmed a “buy” rating on shares of Micron Technology in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of “Moderate Buy” and a consensus target price of $1,407.88.
View Our Latest Stock Analysis on MU
Insider Transactions at Micron Technology
In other news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $968.90, for a total value of $38,756,000.00. Following the completion of the transaction, the chief executive officer 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 filing with the SEC, which is available through this hyperlink. Also, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president directly owned 191,021 shares of the company’s stock, valued at $178,469,010.09. This represents a 7.28% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 83,545 shares of company stock worth $78,460,850. Insiders own 0.24% of the company’s stock.
Micron Technology Trading Down 5.0%
NASDAQ MU opened at $934.27 on Friday. 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 company has a market cap of $1.06 trillion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 0.17 and a beta of 2.22. The business’s fifty day moving average is $980.48 and its 200 day moving average is $741.83.
Micron Technology (NASDAQ:MU – Get Free Report) last issued its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, topping 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 business had revenue of $54.23 billion for the quarter, compared to analyst estimates of $51.33 billion. During the same quarter in the previous year, the company posted $3.03 EPS. Micron Technology’s quarterly 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. As a group, sell-side analysts expect that Micron Technology, Inc. will post 177.03 EPS for the current fiscal year.
Micron Technology Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 14th. Micron Technology’s dividend payout ratio (DPR) is presently 0.81%.
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.
Recommended Stories
- Five stocks we like better than Micron Technology
- Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
- NXP Semiconductors Falls After Strong Earnings—Is the Sell-Off Overdone?
- GE Vernova’s Reservations Are Turning Into Real Orders—But the Market Still Wants More.
- Where’s the Beef? Trian-Led Buyout Proposal Values Wendy’s at $1.4B, But Is It Enough?
Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU – Free Report).
Receive News & Ratings for Micron Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Micron Technology and related companies with MarketBeat.com's FREE daily email newsletter.
