Challenger Wealth Management Invests $226,000 in Micron Technology, Inc. $MU

Key Points

• Challenger Wealth Management acquired 2,600 shares of Micron Technology, valued at approximately $226,000, during the first quarter, indicating growing institutional interest in the semiconductor manufacturer.
• Micron Technology reported an earnings per share (EPS) of $1.91 for the last quarter, beating analysts' estimates and reflecting strong revenue of $9.30 billion.
• The company recently announced a quarterly dividend of $0.115 per share, which signifies a dividend yield of 0.4%.

Challenger Wealth Management purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,600 shares of the semiconductor manufacturer's stock, valued at approximately $226,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MU. Nuveen LLC bought a new stake in shares of Micron Technology during the 1st quarter worth approximately $369,191,000. Vanguard Group Inc. raised its stake in shares of 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. raised its stake in shares of Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Micron Technology by 10,369.6% during the 1st quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer's stock worth $162,783,000 after purchasing an additional 1,855,541 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after purchasing an additional 1,416,174 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Performance

MU traded up $0.09 during trading hours on Monday, reaching $131.46. The company's stock had a trading volume of 19,464,477 shares, compared to its average volume of 16,799,084. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $132.26. The company's 50-day moving average is $118.01 and its 200-day moving average is $101.90. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.89 and a current ratio of 2.75. The firm has a market cap of $147.12 billion, a PE ratio of 23.69 and a beta of 1.47.

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

Micron Technology Announces Dividend

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

Insider Transactions at Micron Technology

In other Micron Technology news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total value of $2,502,200.00. Following the transaction, the executive vice president directly owned 166,353 shares of the company's stock, valued at $20,812,423.83. This represents a 10.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.12, for a total value of $1,876,800.00. Following the completion of the transaction, the executive vice president directly owned 148,167 shares in the company, valued at approximately $18,538,655.04. This represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 260,946 shares of company stock worth $31,927,244. 0.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MU shares. Stifel Nicolaus upped their price objective on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. The Goldman Sachs Group started coverage on Micron Technology in a research note on Thursday, July 10th. They set a "neutral" rating and a $130.00 price objective on the stock. Barclays upped their price objective on Micron Technology from $95.00 to $140.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Robert W. Baird upped their price objective on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. Finally, TD Cowen increased their price target on Micron Technology from $125.00 to $150.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $147.54.

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.