Clark Capital Management Group Inc. Raises Position in Micron Technology, Inc. $MU

Key Points

• Clark Capital Management Group Inc. increased its stake in Micron Technology by 23.1%, owning 44,189 shares after acquiring an additional 8,304 shares, which were valued at approximately $3.84 million.
• Micron's stock has seen price target upgrades from multiple analysts, with Bank of America setting a new target of $140 and Wedbush raising it to $165.
• Insider selling occurred recently, with EVP Manish H. Bhatia offloading 80,000 shares valued at nearly $9.85 million, indicating a 22.53% decrease in their ownership.

Clark Capital Management Group Inc. lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 23.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 44,189 shares of the semiconductor manufacturer's stock after buying an additional 8,304 shares during the period. Clark Capital Management Group Inc.'s holdings in Micron Technology were worth $3,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. D.B. Root & Company LLC increased its stake in Micron Technology by 3.7% during the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock worth $262,000 after acquiring an additional 108 shares during the last quarter. Orca Wealth Management LLC grew its stake in shares of Micron Technology by 1.5% during the first quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer's stock valued at $737,000 after buying an additional 129 shares during the last quarter. Sunpointe LLC grew its stake in shares of Micron Technology by 4.0% during the first quarter. Sunpointe LLC now owns 3,443 shares of the semiconductor manufacturer's stock valued at $300,000 after buying an additional 131 shares during the last quarter. Foundations Investment Advisors LLC grew its stake in shares of Micron Technology by 2.1% during the first quarter. Foundations Investment Advisors LLC now owns 6,561 shares of the semiconductor manufacturer's stock valued at $570,000 after buying an additional 138 shares during the last quarter. Finally, Allen Capital Group LLC grew its stake in shares of Micron Technology by 3.2% during the first quarter. Allen Capital Group LLC now owns 4,460 shares of the semiconductor manufacturer's stock valued at $388,000 after buying an additional 139 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other news, Director Steven J. Gomo sold 7,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.15, for a total transaction of $876,050.00. Following the completion of the sale, the director owned 22,762 shares in the company, valued at approximately $2,848,664.30. This represents a 23.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $123.16, for a total value of $9,852,800.00. Following the sale, the executive vice president owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 264,884 shares of company stock valued at $32,363,889 over the last 90 days. Insiders own 0.30% of the company's stock.

Micron Technology Stock Up 5.8%

Micron Technology stock traded up $7.16 during mid-day trading on Friday, reaching $131.37. 28,358,729 shares of the company were exchanged, compared to its average volume of 16,799,084. The business has a fifty day moving average of $117.85 and a 200 day moving average of $101.68. 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 $147.02 billion, a P/E ratio of 23.67 and a beta of 1.47. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $131.41.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The company had revenue of $9.30 billion during the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same quarter in the prior year, the business earned $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share 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 issued a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.4%. Micron Technology's dividend payout ratio is currently 8.29%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on MU shares. Wedbush upped their target price on Micron Technology from $150.00 to $165.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Wall Street Zen raised Micron Technology from a "buy" rating to a "strong-buy" rating in a research note on Friday. Morgan Stanley upped their target price on Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Arete Research raised Micron Technology to a "strong-buy" rating in a research note on Friday, July 18th. Finally, Raymond James Financial upped their target price on Micron Technology from $120.00 to $150.00 and gave the company an "outperform" rating in a research note on Thursday, June 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently 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.