Novare Capital Management LLC Takes Position in Micron Technology, Inc. $MU

Key Points

• Novare Capital Management LLC acquired a new stake in Micron Technology, purchasing 2,125 shares valued at approximately $262,000.
• Micron Technology, Inc. reported $2.86 earnings per share for the quarter, meeting consensus estimates, and saw a 46.1% increase in revenue year-over-year.
• Multiple analysts have upgraded their target prices for Micron Technology, with Citigroup raising it from $200.00 to $240.00 and an overall consensus rating of "Buy".

Novare Capital Management LLC acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,125 shares of the semiconductor manufacturer's stock, valued at approximately $262,000.

A number of other hedge funds also recently made changes to their positions in MU. Brighton Jones LLC raised its stake in shares of Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Micron Technology by 20.5% in the 1st quarter. GAMMA Investing LLC now owns 21,561 shares of the semiconductor manufacturer's stock valued at $1,873,000 after buying an additional 3,667 shares in the last quarter. Johnson Investment Counsel Inc. increased its position in shares of Micron Technology by 25.2% during the 1st quarter. Johnson Investment Counsel Inc. now owns 9,017 shares of the semiconductor manufacturer's stock worth $783,000 after purchasing an additional 1,814 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of Micron Technology by 178.0% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 65,927 shares of the semiconductor manufacturer's stock worth $5,728,000 after purchasing an additional 42,211 shares in the last quarter. Finally, PFG Investments LLC increased its position in shares of Micron Technology by 7.9% during the 1st quarter. PFG Investments LLC now owns 24,663 shares of the semiconductor manufacturer's stock worth $2,143,000 after purchasing an additional 1,813 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MU shares. Citigroup increased their target price on shares of Micron Technology from $200.00 to $240.00 and gave the stock a "buy" rating in a research report on Thursday. Susquehanna increased their target price on shares of Micron Technology from $160.00 to $200.00 and gave the stock a "positive" rating in a research report on Wednesday, September 17th. Piper Sandler increased their target price on shares of Micron Technology from $165.00 to $200.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 24th. KGI Securities upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 24th. Finally, Raymond James Financial increased their target price on shares of Micron Technology from $150.00 to $190.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 24th. Five research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of "Buy" and an average target price of $198.32.

Micron Technology Stock Down 0.1%

Shares of NASDAQ:MU opened at $202.38 on Friday. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $206.34. The company's 50-day moving average price is $151.20 and its two-hundred day moving average price is $117.70. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The firm has a market cap of $227.17 billion, a P/E ratio of 26.66, a P/E/G ratio of 0.45 and a beta of 1.56.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.86. The company had revenue of $11.32 billion for the quarter, compared to analyst estimates of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The company's revenue for the quarter was up 46.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.18 EPS. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, research analysts forecast that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd will be paid a $0.115 dividend. This represents a $0.46 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology's dividend payout ratio (DPR) is 6.06%.

Insider Buying and Selling at Micron Technology

In other news, Director Richard M. Beyer sold 5,552 shares of the firm's stock in a transaction dated Thursday, September 25th. The shares were sold at an average price of $155.68, for a total value of $864,335.36. Following the transaction, the director owned 96,031 shares of the company's stock, valued at approximately $14,950,106.08. This trade represents a 5.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 21,563 shares of the firm's stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $188.47, for a total transaction of $4,063,978.61. Following the completion of the transaction, the chief executive officer directly owned 272,648 shares in the company, valued at $51,385,968.56. This trade represents a 7.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 146,956 shares of company stock worth $22,841,025 over the last quarter. Company insiders own 0.30% of the company's stock.

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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