Micron Technology, Inc. $MU Shares Acquired by Harvest Portfolios Group Inc.

Key Points

• Harvest Portfolios Group Inc. has increased its stake in Micron Technology, acquiring an additional 37,123 shares, bringing its total ownership to 278,770 shares valued at $24.22 million.
• The company reported better-than-expected earnings for the last quarter, with earnings per share of $1.91 compared to the consensus estimate of $1.57, alongside a revenue of $9.30 billion.
• Micron Technology's dividend yield stands at 0.4%, with a recent quarterly dividend payment of $0.115 per share, reflecting a low dividend payout ratio of 8.29%.

Harvest Portfolios Group Inc. lifted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 15.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 278,770 shares of the semiconductor manufacturer's stock after purchasing an additional 37,123 shares during the quarter. Harvest Portfolios Group Inc.'s holdings in Micron Technology were worth $24,222,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in Micron Technology in the 1st quarter valued at about $33,000. Roxbury Financial LLC grew its stake in Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after acquiring an additional 300 shares during the last quarter. AllSquare Wealth Management LLC grew its stake in Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after acquiring an additional 200 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology in the 1st quarter valued at about $36,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In other news, EVP Manish H. Bhatia sold 80,000 shares of Micron Technology stock in a transaction that occurred on Monday, June 30th. The shares were 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 in the company, valued at $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 7,000 shares of Micron Technology stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $125.15, for a total transaction of $876,050.00. Following the sale, the director owned 22,762 shares in the company, valued at $2,848,664.30. This represents a 23.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 286,042 shares of company stock valued at $34,679,277. 0.30% of the stock is currently owned by corporate insiders.

Micron Technology Trading Down 1.1%

Shares of MU stock opened at $116.42 on Tuesday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $129.85. The firm's 50-day simple moving average is $118.42 and its 200-day simple moving average is $100.30. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The firm has a market cap of $130.29 billion, a P/E ratio of 20.98 and a beta of 1.37.

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

Micron Technology Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid 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 dividend yield of 0.4%. Micron Technology's dividend payout ratio (DPR) is currently 8.29%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Arete Research upgraded shares of Micron Technology to a "strong-buy" rating in a report on Friday, July 18th. Cantor Fitzgerald upped their target price on shares of Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. Barclays upped their target price on shares of Micron Technology from $95.00 to $140.00 and gave the company an "overweight" rating in a report on Thursday, June 26th. UBS Group upped their target price on shares of Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a report on Thursday, June 26th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $200.00 target price on shares of Micron Technology in a report on Monday, August 11th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Micron Technology has an average rating of "Moderate Buy" and an average price target of $147.24.

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.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.