Busey Bank Sells 1,700 Shares of Micron Technology, Inc. $MU

Key Points

• Busey Bank has reduced its holdings in Micron Technology by 6.0%, selling 1,700 shares to end up with 26,818 shares valued at approximately $3.3 million.
• Multiple analysts have raised their price targets for Micron Technology, with Barclays setting a new target at $175.00 and UBS Group at $185.00, reflecting a strong positive outlook for the company.
• Micron Technology recently reported earnings of $1.91 per share, surpassing expectations, and announced a quarterly dividend of $0.115 per share for a yield of 0.3%.

Busey Bank cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 6.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,818 shares of the semiconductor manufacturer's stock after selling 1,700 shares during the period. Busey Bank's holdings in Micron Technology were worth $3,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Micron Technology by 23.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after acquiring an additional 2,038,641 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Micron Technology by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after purchasing an additional 58,285 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Micron Technology by 26.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock valued at $590,807,000 after purchasing an additional 1,416,174 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of Micron Technology by 0.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock worth $379,417,000 after buying an additional 17,970 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Activity

In other Micron Technology news, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director directly owned 20,146 shares in the company, valued at $2,330,287.82. This represents a 10.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 255,946 shares of company stock valued at $32,306,159. Corporate insiders own 0.30% of the company's stock.

Micron Technology Stock Performance

NASDAQ:MU traded up $3.66 during mid-day trading on Tuesday, reaching $168.28. 15,911,135 shares of the company's stock were exchanged, compared to its average volume of 22,783,213. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $170.45. The firm has a market capitalization of $188.33 billion, a PE ratio of 30.37 and a beta of 1.47. The business's fifty day simple moving average is $124.74 and its two-hundred day simple moving average is $106.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter in the prior year, the business posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MU. Cantor Fitzgerald upped their price target on Micron Technology from $155.00 to $185.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. TD Cowen raised their price objective on Micron Technology from $150.00 to $180.00 and gave the company a "buy" rating in a report on Friday. Wedbush increased their price target on Micron Technology from $165.00 to $200.00 and gave the company an "outperform" rating in a research report on Thursday, September 18th. UBS Group upped their price objective on Micron Technology from $155.00 to $185.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Finally, Wall Street Zen downgraded shares of Micron Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $165.54.

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.