First Financial Bankshares Inc Has $80.57 Million Stock Holdings in Micron Technology, Inc. $MU

Key Points

• First Financial Bankshares Inc. reduced its Micron Technology stake by 3.1% in the fourth quarter, but still held 282,308 shares valued at about $80.57 million. Micron remains its 20th-largest holding and accounts for roughly 1.6% of the portfolio.
• Micron reported a strong quarterly beat, posting $12.20 EPS versus $9.19 expected and $23.86 billion in revenue versus $19.97 billion expected. The company also showed robust profitability, with net margin of 41.49% and return on equity of 41.16%.
• Wall Street remains bullish on MU, with several analysts raising price targets and the stock carrying a consensus Buy rating. Micron also increased its quarterly dividend to $0.15 per share, while insiders sold shares in recent months.

First Financial Bankshares Inc trimmed its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,308 shares of the semiconductor manufacturer's stock after selling 9,026 shares during the quarter. Micron Technology makes up about 1.6% of First Financial Bankshares Inc's portfolio, making the stock its 20th largest holding. First Financial Bankshares Inc's holdings in Micron Technology were worth $80,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. High Note Wealth LLC increased its position in Micron Technology by 65.4% during the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC increased its position in Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock worth $27,000 after purchasing an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its position in Micron Technology by 4,800.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. increased its position in Micron Technology by 91.2% during the 4th quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Finally, Joseph Group Capital Management acquired a new position in Micron Technology during the 4th quarter worth approximately $31,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 11.7%

NASDAQ:MU opened at $995.87 on Friday. The firm's fifty day moving average is $665.31 and its 200-day moving average is $459.87. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology, Inc. has a 52 week low of $103.38 and a 52 week high of $1,089.29. The firm has a market cap of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating analysts' consensus estimates of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same period in the prior year, the firm posted $1.56 EPS. The company's quarterly revenue was up 196 on a year-over-year basis. Equities analysts expect that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were paid a $0.15 dividend. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. This is an increase from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's payout ratio is currently 2.83%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MU shares. Barclays upped their price objective on shares of Micron Technology from $450.00 to $675.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Rosenblatt Securities restated a "buy" rating and issued a $500.00 price target on shares of Micron Technology in a research report on Monday, March 16th. UBS Group upped their price target on shares of Micron Technology from $535.00 to $1,625.00 and gave the company a "buy" rating in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Micron Technology from $500.00 to $550.00 and gave the company a "buy" rating in a research report on Thursday, March 19th. Finally, JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of "Buy" and an average target price of $737.63.

More Micron Technology News

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

Insider Activity

In other news, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the company's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the sale, the executive vice president directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 146,000 shares of company stock valued at $85,486,715. Company insiders own 0.24% of the company's stock.

Micron Technology Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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