Micron Technology, Inc. $MU Shares Bought by Sovereign Financial Group Inc.

Key Points

• Sovereign Financial Group Inc. increased its stake in Micron Technology by 19.5%, owning 9,031 shares valued at approximately $1.1 million by the end of Q2.
• Insider selling is notable, with Director Richard M. Beyer selling 5,552 shares and CEO Sanjay Mehrotra selling 21,563 shares, indicating a 5.47% and 7.33% decrease in their respective holdings.
• Analysts have raised price targets for Micron Technology, with Wolfe Research upgrading it to $180, and UBS increasing their target to $225, reflecting positive sentiment around the stock.

Sovereign Financial Group Inc. grew its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,031 shares of the semiconductor manufacturer's stock after acquiring an additional 1,476 shares during the period. Sovereign Financial Group Inc.'s holdings in Micron Technology were worth $1,113,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MU. Opal Wealth Advisors LLC acquired a new position in Micron Technology during the 1st quarter worth $33,000. AllSquare Wealth Management LLC grew its holdings in Micron Technology by 100.0% during the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after acquiring an additional 200 shares in the last quarter. MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology during the 1st quarter worth $36,000. Hilltop National Bank acquired a new position in Micron Technology during the 2nd quarter worth $37,000. Finally, Saudi Central Bank acquired a new position in Micron Technology during the 1st quarter worth $38,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Micron Technology news, Director Richard M. Beyer sold 5,552 shares of the business's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director directly owned 96,031 shares in the company, valued at approximately $14,950,106.08. The trade was a 5.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 21,563 shares of the business's stock in a transaction dated Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the sale, the chief executive officer owned 272,648 shares in the company, valued at $51,385,968.56. This trade represents a 7.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 146,956 shares of company stock worth $22,841,025. 0.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on MU shares. Wolfe Research raised their price objective on shares of Micron Technology from $160.00 to $180.00 and gave the stock an "outperform" rating in a report on Wednesday, September 17th. UBS Group lifted their price target on shares of Micron Technology from $195.00 to $225.00 and gave the company a "buy" rating in a report on Wednesday. Rosenblatt Securities lifted their price target on shares of Micron Technology from $200.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Wall Street Zen raised shares of Micron Technology from a "buy" rating to a "strong-buy" rating in a report on Sunday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Micron Technology from $175.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Four analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $191.78.

Micron Technology Trading Down 5.6%

Micron Technology stock opened at $181.60 on Friday. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The firm has a 50-day moving average price of $142.80 and a two-hundred day moving average price of $114.00. The firm has a market capitalization of $203.84 billion, a price-to-earnings ratio of 23.93, a PEG ratio of 0.40 and a beta of 1.56. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $201.00.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $2.86. The firm had revenue of $11.32 billion during the quarter, compared to analyst estimates of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. Micron Technology's revenue was up 46.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Sell-side 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 will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology's payout ratio is 6.06%.

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.

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