MIdWestOne Financial Group Inc. Reduces Stock Position in Micron Technology, Inc. $MU

Key Points

• MIdWestOne Financial Group cut its Micron Technology stake by 40.3% in the fourth quarter, selling 24,896 shares and leaving it with 36,909 shares worth about $10.5 million.
• Micron posted a strong earnings beat, reporting $12.20 EPS versus the $9.19 consensus and revenue of $23.86 billion versus expectations of $19.97 billion, while also raising its quarterly dividend to $0.15 per share.
• Analysts remain bullish overall, with several firms lifting price targets, including Wells Fargo to $1,220, and the stock carrying an average “Buy” rating with an average target of $737.63.

MIdWestOne Financial Group Inc. lessened its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 40.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,909 shares of the semiconductor manufacturer's stock after selling 24,896 shares during the period. Micron Technology makes up approximately 1.2% of MIdWestOne Financial Group Inc.'s holdings, making the stock its 14th largest position. MIdWestOne Financial Group Inc.'s holdings in Micron Technology were worth $10,534,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Heritage Trust Co grew its position in Micron Technology by 9.7% in the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer's stock worth $4,289,000 after purchasing an additional 1,323 shares during the period. Generation Capital Management LLC bought a new stake in Micron Technology in the 3rd quarter worth approximately $238,000. Westpac Banking Corp grew its position in Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after purchasing an additional 16,509 shares during the period. Avanda Investment Management Pte. Ltd. bought a new stake in Micron Technology in the 3rd quarter worth approximately $418,000. Finally, Wellington Management Group LLP grew its position in Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock worth $1,196,427,000 after purchasing an additional 1,188,296 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology Trading Up 11.7%

Shares of Micron Technology stock opened at $995.87 on Friday. The company's fifty day simple moving average is $665.31 and its 200-day simple moving average is $459.87. The stock has a market capitalization of $1.12 trillion, a PE ratio of 47.02 and a beta of 2.16. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,089.29. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping the consensus estimate of $9.19 by $3.01. The business had revenue of $23.86 billion for the quarter, compared to analysts' expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company's revenue was up 196 compared to the same quarter last year. During the same quarter last year, the company posted $1.56 EPS. As a group, equities analysts anticipate that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a dividend of $0.15 per share. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology's dividend payout ratio is presently 2.83%.

Insider Activity

In related news, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% 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 40,000 shares of Micron Technology stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,000 shares of company stock worth $85,486,715 in the last quarter. Corporate insiders own 0.24% of the company's stock.

Key Micron Technology News

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

• Positive Sentiment: Analysts raised outlooks on Micron after strong AI-memory demand and improving earnings expectations, reinforcing the case for more upside. Beyond Micron: 2 AI Stocks That Could Deliver Explosive Returns
• Positive Sentiment: Wolfe Research and other firms lifted price targets, signaling that Wall Street thinks Micron’s AI memory boom can keep driving results and valuation higher. Analyst raises Micron stock price target by 127%
• Positive Sentiment: Nvidia CEO Jensen Huang reportedly singled out Micron as a major beneficiary of AI spending, which strengthens confidence in Micron’s HBM4 and high-bandwidth memory position. Micron Got a Major Vote of Confidence From Nvidia’s Jensen Huang on AI Returns
• Positive Sentiment: Micron advanced construction on its large New York semiconductor project by selecting Bechtel as EPC partner, supporting long-term manufacturing expansion and domestic supply-chain resilience. Micron Selects Bechtel as Construction Partner for Historic New York Semiconductor Project

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Mizuho lifted their target price on shares of Micron Technology to $800.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. Bank of America lifted their price target on shares of Micron Technology from $400.00 to $500.00 and gave the stock a "buy" rating in a research note on Thursday, March 19th. Summit Insights cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 19th. Erste Group Bank cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, April 2nd. Finally, Wells Fargo & Company lifted their price target on shares of Micron Technology from $550.00 to $1,220.00 and gave the stock an "overweight" rating in a research note on Monday. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $737.63.

Micron Technology Profile

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.

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