Central Pacific Bank Trust Division Decreases Stock Holdings in Micron Technology, Inc. $MU

Key Points

• Central Pacific Bank Trust Division reduced its holdings in Micron Technology, Inc. by 38.0%, now owning 5,620 shares worth approximately $693,000.
• Micron Technology's recent quarterly earnings exceeded expectations, reporting earnings per share (EPS) of $1.91 and revenues of $9.30 billion, both surpassing analyst estimates.
• The company announced a quarterly dividend of $0.115 per share, resulting in an annualized yield of 0.3% and a dividend payout ratio of 8.29%.

Central Pacific Bank Trust Division trimmed its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 38.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,620 shares of the semiconductor manufacturer's stock after selling 3,450 shares during the quarter. Central Pacific Bank Trust Division's holdings in Micron Technology were worth $693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in MU. Sunbeam Capital Management LLC purchased a new position in shares of Micron Technology in the fourth quarter worth $26,000. Opal Wealth Advisors LLC purchased a new position in Micron Technology during the 1st quarter valued at $33,000. AllSquare Wealth Management LLC increased its position in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new position in Micron Technology during the 1st quarter valued at $36,000. Finally, Roxbury Financial LLC increased its position in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $157.23 on Friday. The stock has a market cap of $175.96 billion, a price-to-earnings ratio of 28.33 and a beta of 1.47. The firm's 50-day moving average is $119.94 and its 200 day moving average is $103.25. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $158.28. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly 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 company had revenue of $9.30 billion for the quarter, compared to analysts' expectations 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 previous year, the business posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a yield of 0.3%. Micron Technology's dividend payout ratio is currently 8.29%.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of research analyst reports. Arete Research raised shares of Micron Technology to a "strong-buy" rating in a research report on Friday, July 18th. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $165.00 to $185.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. The Goldman Sachs Group initiated coverage on shares of Micron Technology in a report on Thursday, July 10th. They set a "neutral" rating and a $130.00 target price on the stock. Raymond James Financial boosted their target price on shares of Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a report on Thursday, June 26th. Finally, Citigroup upped their price target on shares of Micron Technology from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and a consensus target price of $151.76.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the transaction, the executive vice president owned 166,353 shares in the company, valued at approximately $20,812,423.83. This represents a 10.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the company's stock in a transaction dated Monday, June 30th. The shares were sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares in the company, valued at $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 275,946 shares of company stock worth $33,962,819. 0.30% of the stock is owned by company insiders.

About Micron Technology

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.