OFI Invest Asset Management Sells 2,112 Shares of Micron Technology, Inc. $MU

Key Points

• OFI Invest Asset Management reduced its stake in Micron Technology by 64.1% in the second quarter, now holding 1,184 shares valued at approximately $146,000.
• Micron Technology reported quarterly earnings of $2.86 EPS, meeting analysts' expectations, with a revenue of $11.32 billion, a 46.1% increase year-over-year.
• The company announced a quarterly dividend of $0.115 per share, with an ex-dividend date of October 3rd, contributing to a low payout ratio of 6.06%.

OFI Invest Asset Management lowered its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 64.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,184 shares of the semiconductor manufacturer's stock after selling 2,112 shares during the quarter. OFI Invest Asset Management's holdings in Micron Technology were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC lifted its position in shares of Micron Technology by 13.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 130,204 shares of the semiconductor manufacturer's stock worth $16,048,000 after buying an additional 14,948 shares in the last quarter. Sovereign Financial Group Inc. lifted its position in shares of Micron Technology by 19.5% during the 2nd quarter. Sovereign Financial Group Inc. now owns 9,031 shares of the semiconductor manufacturer's stock worth $1,113,000 after buying an additional 1,476 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Micron Technology by 39.4% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 17,968 shares of the semiconductor manufacturer's stock worth $2,215,000 after buying an additional 5,077 shares in the last quarter. Johnson Investment Counsel Inc. lifted its position in shares of Micron Technology by 4.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 9,404 shares of the semiconductor manufacturer's stock worth $1,159,000 after buying an additional 387 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC lifted its position in shares of Micron Technology by 1.5% during the 2nd quarter. Fifth Third Wealth Advisors LLC now owns 22,312 shares of the semiconductor manufacturer's stock worth $2,750,000 after buying an additional 340 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Micron Technology Stock Down 5.6%

Micron Technology stock opened at $181.60 on Monday. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $201.00. The firm has a market capitalization of $203.84 billion, a price-to-earnings ratio of 23.93, a P/E/G ratio of 0.40 and a beta of 1.56. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $142.80 and a 200 day simple moving average of $114.16.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, meeting analysts' consensus estimates of $2.86. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $11.32 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same period in the previous year, the business earned $1.18 EPS. Micron Technology's revenue was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. On average, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, October 3rd. Micron Technology's payout ratio is currently 6.06%.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 21,563 shares of the firm's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $188.47, for a total value of $4,063,978.61. Following the completion of the transaction, the chief executive officer directly owned 272,648 shares of the company's stock, valued at $51,385,968.56. This trade represents a 7.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm's stock in a transaction on Tuesday, September 30th. The shares were sold at an average price of $164.04, for a total transaction of $2,460,600.00. Following the completion of the transaction, the executive vice president directly owned 131,580 shares of the company's stock, valued at approximately $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,956 shares of company stock valued at $22,841,025 in the last quarter. 0.30% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

MU has been the topic of several recent analyst reports. Zacks Research raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. UBS Group raised their price target on shares of Micron Technology from $195.00 to $225.00 and gave the stock a "buy" rating in a research note on Wednesday, October 8th. Morgan Stanley upgraded shares of Micron Technology from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $160.00 to $220.00 in a research note on Monday, October 6th. Wells Fargo & Company raised their price target on shares of Micron Technology from $170.00 to $220.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Finally, Citigroup raised their price target on shares of Micron Technology from $175.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday, September 24th. Four research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Micron Technology presently has a consensus rating of "Buy" and a consensus target price of $191.78.

About Micron Technology

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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