Micron Technology, Inc. $MU Stock Purchased by TOWER TRUST & INVESTMENT Co

Key Points

• TOWER TRUST & INVESTMENT Co. increased its Micron position by 1,743.2% in the third quarter, bringing its holdings to 1,493 shares valued at approximately $1.59 million. Institutional investors collectively own 80.84% of Micron’s stock.
• Micron reported quarterly earnings of $33.42 per share, surpassing the $31.77 analyst consensus, while revenue reached $54.23 billion and rose 379.1% year over year. The company also issued a $0.15 quarterly dividend.
• Analyst sentiment remains positive, with Micron receiving a “Moderate Buy” consensus rating and an average price target of $1,407.88, supported by strong AI, data-center and high-bandwidth-memory demand prospects.

TOWER TRUST & INVESTMENT Co lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1,743.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,493 shares of the semiconductor manufacturer's stock after purchasing an additional 1,412 shares during the quarter. Micron Technology comprises approximately 0.9% of TOWER TRUST & INVESTMENT Co's portfolio, making the stock its 21st largest holding. TOWER TRUST & INVESTMENT Co's holdings in Micron Technology were worth $1,590,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Childress Capital Advisors LLC raised its position in shares of Micron Technology by 4.1% during the 3rd quarter. Childress Capital Advisors LLC now owns 4,203 shares of the semiconductor manufacturer's stock valued at $4,477,000 after buying an additional 166 shares in the last quarter. D.A. Davidson & CO. increased its stake in Micron Technology by 12.4% in the third quarter. D.A. Davidson & CO. now owns 63,312 shares of the semiconductor manufacturer's stock valued at $67,435,000 after acquiring an additional 6,972 shares during the last quarter. Garrison Bradford & Associates Inc. bought a new position in Micron Technology in the third quarter valued at $1,183,000. BOKF NA boosted its holdings in shares of Micron Technology by 2.9% in the 3rd quarter. BOKF NA now owns 46,353 shares of the semiconductor manufacturer's stock worth $49,371,000 after purchasing an additional 1,296 shares in the last quarter. Finally, Motley Fool Asset Management LLC purchased a new position in shares of Micron Technology in the 3rd quarter worth about $83,540,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Price Performance

MU opened at $934.27 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.31 and a quick ratio of 2.94. Micron Technology, Inc. has a 1 year low of $192.59 and a 1 year high of $1,255.00. The stock's 50 day simple moving average is $980.48 and its 200 day simple moving average is $741.83. The firm has a market cap of $1.06 trillion, a price-to-earnings ratio of 12.59, a PEG ratio of 0.17 and a beta of 2.22.

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

Micron Technology Announces Dividend

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

Insider Activity

In other news, EVP Sumit Sadana sold 15,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the completion of the sale, the executive vice president directly owned 191,021 shares in the company, valued at approximately $178,469,010.09. This represents a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Scott Deboer sold 28,545 shares of the 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 represents a 16.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 83,545 shares of company stock valued at $78,460,850. Insiders own 0.24% of the company's stock.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Micron’s long-term outlook remains favorable. The company has reportedly secured most of next year’s shipments through customer agreements, while multi-year take-or-pay contracts cover more than 35% of revenue through 2030 and include approximately $32 billion in customer commitments. Micron Is Trading for Less Than 6 Times Forward Earnings. Here's Why That's a Sign to Buy.
• Positive Sentiment: Analysts and financial commentators continue to view MU as attractively valued at fewer than six times forward earnings, with expectations for sustained growth as data-center, AI, and high-bandwidth-memory demand outpaces supply. Micron: Priced For A Peak That Keeps Moving Higher
• Positive Sentiment: Strong results from SK Hynix indicated that DRAM and HBM demand could remain ahead of supply through 2029 or 2030, supporting the industry’s pricing environment and Micron’s earnings potential. Micron Stock Rises as SK Hynix Says DRAM and HBM Are Sold Out

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Raymond James Financial reiterated an "outperform" rating on shares of Micron Technology in a research report on Thursday, October 1st. ThinkEquity reiterated a "buy" rating on shares of Micron Technology in a research report on Monday, August 3rd. CLSA reissued an "outperform" rating and set a $1,700.00 price target on shares of Micron Technology in a research note on Friday, October 2nd. The Goldman Sachs Group set a $1,250.00 price objective on shares of Micron Technology in a report on Thursday, October 1st. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $1,500.00 price objective on shares of Micron Technology in a research note on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, forty-one have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,407.88.

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.

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