Micron Technology, Inc. $MU Stake Raised by Westbourne Investments Inc.

Key Points

• Westbourne Investments Inc. has increased its stake in Micron Technology by 38.1% during the second quarter, now holding 24,287 shares valued at approximately $2.99 million.
• Micron reported a quarterly earnings per share of $1.91, surpassing analyst expectations, with revenues for the quarter amounting to $9.30 billion.
• Dividends were announced at $0.115 per share, representing a low annualized dividend yield of 0.3%, with a payout ratio of 8.29%.

Westbourne Investments Inc. increased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 38.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,287 shares of the semiconductor manufacturer's stock after acquiring an additional 6,697 shares during the period. Micron Technology comprises about 1.6% of Westbourne Investments Inc.'s holdings, making the stock its 17th largest holding. Westbourne Investments Inc.'s holdings in Micron Technology were worth $2,993,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Nuveen LLC purchased a new stake in shares of Micron Technology during the 1st quarter worth about $369,191,000. Vanguard Group Inc. raised its stake in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Micron Technology by 10,369.6% during the 1st quarter. GAMMA Investing LLC now owns 1,873,435 shares of the semiconductor manufacturer's stock worth $162,783,000 after purchasing an additional 1,855,541 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after purchasing an additional 1,416,174 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $158.82 on Wednesday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $160.34. The firm has a market capitalization of $177.74 billion, a PE ratio of 28.62 and a beta of 1.47. The business's 50 day moving average is $121.38 and its 200-day moving average is $104.16. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.The company 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 earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. TD Cowen raised their price target on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Wall Street Zen downgraded Micron Technology from a "strong-buy" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC reissued a "buy" rating and issued a $150.00 price objective on shares of Micron Technology in a research note on Monday, August 11th. Wells Fargo & Company raised their price objective on Micron Technology from $150.00 to $170.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Finally, Mizuho raised their price objective on Micron Technology from $155.00 to $182.00 and gave the company an "outperform" rating in a research note on Tuesday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $157.24.

Insider Buying and Selling at Micron Technology

In related news, EVP Scott J. Deboer sold 20,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total transaction of $2,502,200.00. Following the completion of the transaction, the executive vice president owned 166,353 shares in the company, valued at $20,812,423.83. This trade represents a 10.73% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the transaction, the executive vice president owned 275,067 shares of the company's stock, valued at $33,877,251.72. This trade represents a 22.53% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 268,446 shares of company stock worth $33,055,075 over the last three months. 0.30% of the stock is currently owned by insiders.

Micron Technology Profile

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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