Micron Technology, Inc. $MU Shares Bought by Busey Bank

Key Points

• Busey Bank increased its Micron stake by 35.6% in the third quarter, acquiring 14,868 additional shares to hold 56,613 shares valued at approximately $60.3 million.
• Institutional ownership remains high at 80.84%, with several major investors—including Bank of America and Dimensional Fund Advisors—also increasing their positions.
• Analysts maintain a broadly bullish outlook, with Micron receiving a “Moderate Buy” consensus rating and a $1,407.88 average price target. The company also exceeded quarterly earnings and revenue estimates, helped by strong AI-related memory demand.

Busey Bank boosted its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 35.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,613 shares of the semiconductor manufacturer's stock after buying an additional 14,868 shares during the period. Micron Technology makes up about 1.4% of Busey Bank's investment portfolio, making the stock its 19th largest holding. Busey Bank's holdings in Micron Technology were worth $60,299,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Andar Capital Management HK Ltd increased its holdings in shares of Micron Technology by 856,960.3% during the second quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer's stock valued at $39,571,847,000 after acquiring an additional 34,278,413 shares in the last quarter. Primecap Management Co. CA bought a new position in Micron Technology in the 2nd quarter worth about $22,182,263,000. Bank of America Corp DE boosted its stake in Micron Technology by 26.6% in the 2nd quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer's stock worth $11,744,621,000 after purchasing an additional 2,136,470 shares in the last quarter. Legal & General Group Plc bought a new position in Micron Technology in the 2nd quarter worth about $8,402,393,000. Finally, Dimensional Fund Advisors LP grew its position in Micron Technology by 1.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,967,065 shares of the semiconductor manufacturer's stock valued at $2,352,282,000 after purchasing an additional 86,488 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

MU has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price objective on shares of Micron Technology from $1,525.00 to $1,400.00 and set an "overweight" rating for the company in a research note on Wednesday, September 23rd. Weiss Ratings raised shares of Micron Technology from a "buy (b)" rating to a "buy (b+)" rating in a report on Monday, October 12th. Itau BBA Securities upped their target price on shares of Micron Technology from $1,243.78 to $1,697.09 and gave the stock an "outperform" rating in a research note on Wednesday, July 22nd. KeyCorp reiterated an "overweight" rating on shares of Micron Technology in a report on Thursday, October 1st. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Micron Technology in a research report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $1,407.88.

Micron Technology Stock Performance

NASDAQ MU opened at $928.76 on Wednesday. Micron Technology, Inc. has a one year low of $192.59 and a one year high of $1,255.00. The stock has a 50-day moving average of $979.69 and a 200 day moving average of $735.60. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 12.52 and a beta of 2.22.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, topping analysts' consensus estimates of $31.77 by $1.65. The business had revenue of $54.23 billion during the quarter, compared to analysts' expectations of $51.33 billion. Micron Technology's quarterly revenue was up 379.1% compared to the same quarter last year. During the same period last year, the firm posted $3.03 EPS. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, equities analysts predict that Micron Technology, Inc. will post 177.03 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th will be paid a $0.15 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology's payout ratio is currently 0.81%.

More Micron Technology News

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

• Positive Sentiment: Elon Musk predicted that humanoid robots could require enormous amounts of memory, prompting analysts to frame robotics as a potentially significant long-term volume opportunity for Micron and SK hynix. Separate forecasts suggest humanoid robots could use substantially more memory by 2030. Elon Musk Says Robots Will Need More Memory
• Positive Sentiment: Bank of America reiterated its buy rating and became more constructive on memory following meetings with industry executives. The firm believes customers are increasingly securing supply through long-term agreements, supporting pricing and visibility for Micron. Bank of America Reiterates Buy on Micron
• Positive Sentiment: Micron’s recent earnings beat and record results continue to support the bullish case. Strong AI-related high-bandwidth-memory demand, tight supply, and favorable earnings expectations have led some analysts to argue that the stock remains inexpensive relative to its growth potential. Can Micron Survive a 40% Drop in Memory Prices?
• Positive Sentiment: Micron’s new employee bonus plan may help align compensation with company performance and support retention as the business expands its AI-memory capacity. Micron Unveils a New Bonus Plan

Insider Activity

In related news, EVP Sumit Sadana sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total value of $14,014,350.00. Following the sale, the executive vice president owned 191,021 shares in the company, valued at approximately $178,469,010.09. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Scott J. Deboer sold 28,545 shares of the firm's stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $900.00, for a total transaction of $25,690,500.00. Following the completion of the sale, the insider owned 147,430 shares in the company, valued at $132,687,000. This represents a 16.22% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 83,545 shares of company stock valued at $78,460,850 over the last three months. Insiders own 0.24% of the company's stock.

About Micron Technology

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.

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