Bank of Stockton Cuts Holdings in Micron Technology, Inc. $MU

Key Points

• Bank of Stockton cut its Micron Technology stake by 16.5% in the first quarter, selling 2,847 shares and leaving it with 14,390 shares valued at about $4.86 million.
• Micron continues to see significant institutional interest and analyst support, with hedge funds owning 80.84% of the stock and Wall Street maintaining a consensus “Buy” rating with an average price target of $1,263.76.
• The company recently posted strong quarterly results, beating EPS and revenue estimates, and also announced a quarterly dividend of $0.15 per share payable on July 21.

Bank of Stockton reduced its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,390 shares of the semiconductor manufacturer's stock after selling 2,847 shares during the quarter. Micron Technology comprises 1.5% of Bank of Stockton's investment portfolio, making the stock its 13th biggest holding. Bank of Stockton's holdings in Micron Technology were worth $4,862,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after acquiring an additional 976 shares during the period. Sivia Capital Partners LLC grew its holdings in Micron Technology by 21.7% in the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock valued at $435,000 after purchasing an additional 628 shares during the last quarter. United Bank purchased a new position in shares of Micron Technology in the second quarter valued at $236,000. Schnieders Capital Management LLC. increased its position in shares of Micron Technology by 67.9% in the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer's stock valued at $2,093,000 after buying an additional 6,867 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Micron Technology by 5.6% during the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock worth $49,987,000 after buying an additional 21,619 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $1,083.94, for a total transaction of $43,357,600.00. Following the transaction, the executive vice president directly owned 85,737 shares in the company, valued at $92,933,763.78. This represents a 31.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sumit Sadana sold 24,000 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the sale, the executive vice president directly owned 224,021 shares in the company, valued at $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 187,300 shares of company stock valued at $162,779,604 in the last three months. Company insiders own 0.24% of the company's stock.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Micron’s long-term supply agreement with Ford supports revenue visibility and reinforces demand for its automotive memory and storage products. Reuters: Micron, Ford sign semiconductor supply agreement for vehicles
• Positive Sentiment: Several bullish articles say Micron remains a key AI-memory winner, with record results, strong margins, and customer contracts suggesting the rally could have more room to run. Motley Fool: Micron Stock Is Down 22% From Its High
• Positive Sentiment: Analyst coverage remains constructive, with price-target hikes and “buy” ratings reinforcing the view that AI-driven memory demand is still strong. Insider Monkey: Phillip Securities Raises Price Target For Micron Technology
• Neutral Sentiment: Micron is moving with the broader semiconductor and memory group, so near-term volatility is being driven as much by sector sentiment as by company-specific news. Yahoo Finance: Why Micron Technology Stock Is Falling Today
• Neutral Sentiment: Some coverage warns the memory trade may be stretched after a huge run-up, which could keep investors cautious even if fundamentals stay strong. Barron’s: Micron Locks in Big Customers But Memory-Chip Fears Drag on Stock
• Negative Sentiment: Insider selling and articles questioning whether the memory cycle is peaking are adding to concern that Micron’s valuation may be ahead of fundamentals in the short term. Seeking Alpha: Micron: Exact Opposite Valuation Setup As 2022 Buy Suggestion

Wall Street Analyst Weigh In

A number of brokerages recently commented on MU. JPMorgan Chase & Co. increased their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Wedbush upped their price target on shares of Micron Technology from $1,300.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. DA Davidson increased their price target on shares of Micron Technology from $1,500.00 to $2,000.00 and gave the company a "buy" rating in a research report on Thursday, June 25th. The Goldman Sachs Group raised their price objective on shares of Micron Technology from $900.00 to $1,100.00 and gave the stock a "neutral" rating in a research note on Thursday, June 25th. Finally, Bank of America upped their target price on Micron Technology from $950.00 to $1,500.00 and gave the company a "buy" rating in a research note on Tuesday, June 23rd. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $1,263.76.

Micron Technology Stock Performance

Shares of MU opened at $938.38 on Wednesday. Micron Technology, Inc. has a 1 year low of $103.38 and a 1 year high of $1,255.00. The company's 50 day simple moving average is $895.82 and its 200 day simple moving average is $565.31. The company has a market capitalization of $1.06 trillion, a price-to-earnings ratio of 21.24 and a beta of 2.14. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 EPS for the quarter, topping the consensus estimate of $21.39 by $3.72. The firm had revenue of $41.46 billion during the quarter, compared to analysts' expectations of $35.91 billion. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. Micron Technology's revenue for the quarter was up 345.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, sell-side analysts predict that Micron Technology, Inc. will post 72.94 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Monday, July 6th will be given a dividend of $0.15 per share. The ex-dividend date is Monday, July 6th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology's dividend payout ratio is 1.36%.

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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