Carmel Capital Partners LLC Grows Position in Micron Technology, Inc. $MU

Key Points

• Carmel Capital Partners LLC increased its stake in Micron Technology by 16.5%, owning 20,503 shares worth $2.5 million, making it the firm's 24th largest investment.
• Several analysts have upgraded their ratings and price targets for Micron Technology, with estimates ranging from $180 to $250, reflecting growing confidence in the company's performance.
• Micron Technology announced a quarterly dividend of $0.115 per share, with an ex-dividend date of October 3rd, representing an annualized yield of 0.2%.

Carmel Capital Partners LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,503 shares of the semiconductor manufacturer's stock after buying an additional 2,899 shares during the quarter. Micron Technology makes up about 0.9% of Carmel Capital Partners LLC's investment portfolio, making the stock its 24th largest position. Carmel Capital Partners LLC's holdings in Micron Technology were worth $2,527,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. AllSquare Wealth Management LLC lifted its holdings in shares of Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after buying an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Micron Technology in the first quarter worth $36,000. Hilltop National Bank purchased a new position in shares of Micron Technology in the second quarter worth $37,000. Saudi Central Bank purchased a new position in shares of Micron Technology in the first quarter worth $38,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Micron Technology by 91.0% in the first quarter. Pinnacle Bancorp Inc. now owns 512 shares of the semiconductor manufacturer's stock worth $44,000 after buying an additional 244 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Micron Technology from $200.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, September 24th. TD Cowen boosted their price target on shares of Micron Technology from $150.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, September 19th. Cantor Fitzgerald boosted their price target on shares of Micron Technology from $185.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. JPMorgan Chase & Co. boosted their price target on shares of Micron Technology from $185.00 to $220.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of Micron Technology in a research report on Tuesday. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, Micron Technology currently has an average rating of "Buy" and an average price target of $198.32.

Insider Activity

In other news, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer directly owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. The trade was a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 21,563 shares of the business's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the sale, the chief executive officer directly owned 272,648 shares of the company's stock, valued at $51,385,968.56. This represents a 7.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 146,956 shares of company stock worth $22,841,025. 0.30% of the stock is currently owned by insiders.

Micron Technology Trading Down 0.1%

MU stock opened at $202.38 on Friday. 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, Inc. has a twelve month low of $61.54 and a twelve month high of $206.34. The stock has a market capitalization of $227.16 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.56. The firm's fifty day simple moving average is $151.20 and its two-hundred day simple moving average is $117.50.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, meeting analysts' consensus estimates of $2.86. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $11.32 billion for the quarter, compared to analysts' expectations of $11.05 billion. During the same quarter in the previous year, the business 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, analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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

Micron Technology 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.

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