GLOBALT Investments LLC GA Has $6.59 Million Stock Position in Micron Technology, Inc. $MU

Key Points

• GLOBALT Investments LLC has reduced its stake in Micron Technology by 5.8%, now holding shares valued at approximately $6.59 million after selling 3,283 shares in the second quarter.
• Insider trading activity includes Scott R. Allen selling 8,800 shares for over $1.84 million and April S. Arnzen selling 15,000 shares for roughly $2.46 million, indicating a decrease in their respective holdings.
• Micron Technology announced a quarterly dividend of $0.115 per share, contributing to an annualized dividend yield of 0.2% amid strong earnings reported at $2.86 EPS for the latest quarter.

GLOBALT Investments LLC GA cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,503 shares of the semiconductor manufacturer's stock after selling 3,283 shares during the period. GLOBALT Investments LLC GA's holdings in Micron Technology were worth $6,594,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hilltop National Bank purchased a new position in shares of Micron Technology in the 2nd quarter worth approximately $37,000. Dogwood Wealth Management LLC lifted its holdings in Micron Technology by 259.6% during the second quarter. Dogwood Wealth Management LLC now owns 356 shares of the semiconductor manufacturer's stock worth $44,000 after acquiring an additional 257 shares during the period. AllSquare Wealth Management LLC boosted its position in Micron Technology by 100.0% in the first quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in Micron Technology in the first quarter worth $36,000. Finally, Saudi Central Bank bought a new position in Micron Technology in the 1st quarter valued at $38,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In other Micron Technology news, CAO Scott R. Allen sold 8,800 shares of the firm's stock in a transaction that occurred on Monday, October 20th. The shares were sold at an average price of $210.02, for a total transaction of $1,848,176.00. Following the completion of the transaction, the chief accounting officer owned 40,237 shares of the company's stock, valued at approximately $8,450,574.74. This trade represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the transaction, the executive vice president owned 131,580 shares of the company's stock, valued at $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,256 shares of company stock worth $25,564,625 in the last three months. 0.30% of the stock is owned by corporate insiders.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $206.71 on Friday. The company has a 50 day moving average of $157.46 and a 200 day moving average of $121.07. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The stock has a market cap of $232.02 billion, a P/E ratio of 27.23, a P/E/G ratio of 0.44 and a beta of 1.56. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $214.75.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 EPS for the quarter, meeting analysts' consensus estimates of $2.86. The business had revenue of $11.32 billion for the quarter, compared to analysts' expectations of $11.05 billion. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The firm's revenue was up 46.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd were given a $0.115 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology's dividend payout ratio is currently 6.06%.

Wall Street Analyst Weigh In

MU has been the topic of a number of research reports. UBS Group lifted their price target on shares of Micron Technology from $225.00 to $245.00 and gave the stock a "buy" rating in a report on Thursday, October 16th. Citigroup upped their price target on Micron Technology from $200.00 to $240.00 and gave the company a "buy" rating in a research report on Thursday, October 16th. Raymond James Financial increased their price target on Micron Technology from $150.00 to $190.00 and gave the stock an "outperform" rating in a research note on Wednesday, September 24th. Wedbush upped their price objective on shares of Micron Technology from $200.00 to $220.00 and gave the company an "outperform" rating in a report on Wednesday, September 24th. Finally, KGI Securities upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 24th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Micron Technology presently has an average rating of "Buy" and a consensus target price of $200.64.

Micron Technology 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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