Micron Technology, Inc. $MU Stake Raised by Trek Financial LLC

Key Points

• Trek Financial raised its Micron stake by 22.9% in the third quarter, bringing its holdings to 29,481 shares valued at approximately $31.4 million. Institutional investors collectively own 80.84% of Micron’s stock.
• Micron reported quarterly earnings of $33.42 per share and revenue of $54.23 billion, exceeding analyst expectations, while revenue surged 379.1% year over year.
• Analysts maintain a bullish outlook, with 41 Buy ratings, one Strong Buy, and four Holds; the stock has an average price target of $1,407.88 compared with its reported price of $884.74.

Trek Financial LLC lifted its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 22.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,481 shares of the semiconductor manufacturer's stock after purchasing an additional 5,484 shares during the quarter. Micron Technology comprises approximately 1.5% of Trek Financial LLC's holdings, making the stock its 11th largest position. Trek Financial LLC's holdings in Micron Technology were worth $31,401,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Andar Capital Management HK Ltd boosted its holdings in shares of Micron Technology by 856,960.3% in the second quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer's stock worth $39,571,847,000 after buying an additional 34,278,413 shares during the last quarter. Primecap Management Co. CA bought a new position in Micron Technology in the 2nd quarter worth $22,182,263,000. Legal & General Group Plc bought a new stake in Micron Technology during the second quarter valued at about $8,402,393,000. Situational Awareness LP increased its position in Micron Technology by 1,149.0% in the second quarter. Situational Awareness LP now owns 4,828,786 shares of the semiconductor manufacturer's stock worth $5,573,819,000 after buying an additional 5,289,124 shares in the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Micron Technology during the 2nd quarter valued at approximately $3,761,237,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

NASDAQ:MU opened at $884.74 on Monday. The stock has a market capitalization of $1.00 trillion, a PE ratio of 11.92, a P/E/G ratio of 0.15 and a beta of 2.36. The company has a fifty day moving average of $978.68 and a two-hundred day moving average of $744.52. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.94 and a current ratio of 3.31. Micron Technology, Inc. has a fifty-two week low of $192.59 and a fifty-two week high of $1,255.00.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 EPS for the quarter, topping analysts' consensus estimates of $31.77 by $1.65. The firm 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%. The firm's revenue was up 379.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 177.03 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms recently commented on MU. Deutsche Bank Aktiengesellschaft reissued a "buy" rating on shares of Micron Technology in a report on Thursday, October 1st. Wedbush reiterated an "outperform" rating and set a $1,400.00 price objective on shares of Micron Technology in a research report on Monday, September 28th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Micron Technology in a report on Thursday, October 1st. KeyCorp reissued an "overweight" rating on shares of Micron Technology in a research note on Thursday, October 1st. Finally, TD Cowen reissued a "buy" rating and set a $1,600.00 target price on shares of Micron Technology in a research note on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $1,407.88.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $968.90, for a total value of $38,756,000.00. Following the sale, the chief executive officer owned 264,503 shares of the company's stock, valued at $256,276,956.70. The trade was a 13.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Scott Deboer sold 28,545 shares of Micron Technology stock in a transaction dated 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 sale, the insider owned 147,430 shares of the company's stock, valued at approximately $132,687,000. This trade represents a 16.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 83,545 shares of company stock valued at $78,460,850. Insiders own 0.24% of the company's stock.

Micron Technology Company 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.