CRA Financial Services LLC Purchases New Shares in Micron Technology, Inc. $MU

Key Points

• CRA Financial Services LLC has acquired a new stake in Micron Technology, purchasing 1,865 shares valued at approximately $230,000 in the second quarter.
• Wall Street analysts are optimistic, with Barclays and Wells Fargo upgrading their price targets for Micron Technology to between $170.00 and $185.00, reflecting a strong growth forecast.
• Insider selling was reported as EVP Manish H. Bhatia and another executive sold large quantities of shares, representing over $20 million in transactions amidst a decline in their positions.

CRA Financial Services LLC purchased a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,865 shares of the semiconductor manufacturer's stock, valued at approximately $230,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. Brighton Jones LLC increased its holdings in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after purchasing an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Micron Technology by 19.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after purchasing an additional 13,985 shares in the last quarter. Ameriflex Group Inc. acquired a new stake in Micron Technology during the 4th quarter valued at $116,000. B. Riley Wealth Advisors Inc. increased its holdings in Micron Technology by 6.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 25,054 shares of the semiconductor manufacturer's stock valued at $2,111,000 after purchasing an additional 1,532 shares in the last quarter. Finally, Heck Capital Advisors LLC bought a new position in Micron Technology in the 4th quarter valued at $215,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Barclays increased their price objective on Micron Technology from $140.00 to $175.00 and gave the company an "overweight" rating in a research report on Friday. KGI Securities lowered Micron Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company increased their price objective on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. UBS Group increased their price objective on Micron Technology from $155.00 to $185.00 and gave the company a "buy" rating in a research report on Monday, September 15th. Finally, Citigroup increased their price objective on Micron Technology from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $165.54.

Insiders Place Their Bets

In related news, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction 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 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Sumit Sadana sold 92,638 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $125.49, for a total value of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares in the company, valued at $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. Insiders sold 255,946 shares of company stock worth $32,306,159 over the last three months. Insiders own 0.30% of the company's stock.

Micron Technology Stock Up 1.2%

NASDAQ:MU opened at $164.62 on Tuesday. Micron Technology, Inc. has a 12-month low of $61.54 and a 12-month high of $170.45. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $184.23 billion, a P/E ratio of 29.66 and a beta of 1.47. The stock's fifty day simple moving average is $124.74 and its 200-day simple moving average is $106.27.

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 (EPS) for the quarter, topping the consensus estimate 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 analyst estimates of $8.83 billion. During the same period last year, the company earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

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

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.

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