Micron Technology, Inc. $MU Stake Lessened by Mountain Pacific Investment Advisers LLC

Key Points

• Mountain Pacific Investment Advisers cut its Micron stake by 16.4% in the third quarter, selling 1,874 shares and retaining 9,576 shares valued at about $10.2 million.
• Micron beat quarterly earnings and revenue estimates, reporting EPS of $33.42 and revenue of $54.23 billion; revenue rose 379.1% year over year. Analysts’ consensus rating was “Moderate Buy,” with an average price target of $1,407.88.
• Company insiders sold 83,545 shares worth approximately $78.5 million over the past three months, including sales by CEO Sanjay Mehrotra and EVP Sumit Sadana.

Mountain Pacific Investment Advisers LLC lessened its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 16.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,576 shares of the semiconductor manufacturer's stock after selling 1,874 shares during the quarter. Micron Technology accounts for about 1.7% of Mountain Pacific Investment Advisers LLC's investment portfolio, making the stock its 16th largest holding. Mountain Pacific Investment Advisers LLC's holdings in Micron Technology were worth $10,199,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MU. M.E. Allison & CO. Inc. lifted its position in Micron Technology by 0.8% during the second quarter. M.E. Allison & CO. Inc. now owns 1,324 shares of the semiconductor manufacturer's stock valued at $1,528,000 after buying an additional 11 shares in the last quarter. Purus Wealth Management LLC increased its position in shares of Micron Technology by 1.4% in the third quarter. Purus Wealth Management LLC now owns 814 shares of the semiconductor manufacturer's stock worth $867,000 after acquiring an additional 11 shares in the last quarter. Ables Iannone Moore & Associates Inc. increased its position in shares of Micron Technology by 5.3% in the third quarter. Ables Iannone Moore & Associates Inc. now owns 237 shares of the semiconductor manufacturer's stock worth $252,000 after acquiring an additional 12 shares in the last quarter. Koesten Hirschmann & Crabtree INC. increased its position in shares of Micron Technology by 5.6% in the third quarter. Koesten Hirschmann & Crabtree INC. now owns 228 shares of the semiconductor manufacturer's stock worth $243,000 after acquiring an additional 12 shares in the last quarter. Finally, Physician Wealth Advisors Inc. raised its stake in shares of Micron Technology by 1.6% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 762 shares of the semiconductor manufacturer's stock valued at $812,000 after acquiring an additional 12 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MU. Seaport Research Partners restated a "buy" rating on shares of Micron Technology in a report on Friday, August 14th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $1,500.00 price target on shares of Micron Technology in a research report on Thursday, October 1st. Wedbush reiterated an "outperform" rating and issued a $1,400.00 price target on shares of Micron Technology in a report on Monday, September 28th. Weiss Ratings downgraded Micron Technology from a "buy (b+)" rating to a "buy (b)" rating in a report on Tuesday, October 27th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $2,000.00 price objective on shares of Micron Technology in a research report on Thursday, October 1st. One equities research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $1,407.88.

Insider Activity

In other Micron Technology news, EVP Sumit Sadana sold 15,000 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president owned 191,021 shares of the company's stock, valued at $178,469,010.09. This trade represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of the firm's stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the completion of the transaction, the chief executive officer directly owned 264,503 shares in the company, valued at $256,276,956.70. This represents a 13.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 83,545 shares of company stock valued at $78,460,850. Company insiders own 0.24% of the company's stock.

Micron Technology Trading Up 2.6%

MU opened at $855.10 on Wednesday. The firm has a market capitalization of $967.48 billion, a P/E ratio of 11.52, a P/E/G ratio of 0.14 and a beta of 2.36. The firm's 50 day moving average is $974.91 and its 200-day moving average is $749.61. Micron Technology, Inc. has a 52-week low of $192.59 and a 52-week high of $1,255.00. The company has a quick ratio of 2.94, a current ratio of 3.31 and a debt-to-equity ratio of 0.03.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $31.77 by $1.65. The company had revenue of $54.23 billion for the quarter, compared to the consensus estimate of $51.33 billion. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. Micron Technology's revenue for the quarter was up 379.1% compared to the same quarter last year. During the same period in the previous year, the business earned $3.03 EPS. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Analysts expect that Micron Technology, Inc. will post 177.03 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Wednesday, October 14th. Micron Technology's dividend payout ratio (DPR) is presently 0.81%.

More Micron Technology News

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

• Positive Sentiment: Memory stocks recovered as investors rotated back into semiconductor shares, with easing oil prices also helping risk appetite. Why are Micron, SK Hynix, and SanDisk stocks rising on Tuesday?
• Positive Sentiment: AI’s growing need for memory could support Micron’s opportunity: the article highlights memory’s importance to AI performance and the company’s potential to compete on value. Micron Said “Super Intelligence” Creates the Most Compelling Opportunity in Its History
• Positive Sentiment: Micron could step up share repurchases starting in December after Chips Act restrictions expire, potentially adding support for shareholder returns and demand for the stock. Micron Expected to Launch Massive Stock Buybacks in December
• Neutral Sentiment: Some analysts see substantial upside after the pullback, though the coverage cautions that memory-stock rallies have been difficult to sustain. Micron Stock Is in a Slump but Analysts Say It Can Soar 100%
• Negative Sentiment: Investor Dan Niles warned that Chinese memory maker CXMT is targeting a 20% share by 2028, raising the prospect of increased competition for Micron. Micron’s Real Risk: China’s CXMT Targets “20% by 2028,” Warns Dan Niles
• Negative Sentiment: Recent concerns about the memory cycle remain: a cautious outlook from Kioxia weighed on Micron and other memory shares in the prior session, while one commentator argued AI-chip stocks may not have fallen enough. Micron Falls as Kioxia’s Cautious Outlook Hits Memory Stocks

Micron Technology Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.