2,783 Shares in Micron Technology, Inc. $MU Purchased by Orrstown Financial Services Inc.

Key Points

• Orrstown Financial Services Inc. invested approximately $343,000 in Micron Technology by acquiring 2,783 shares in the 2nd quarter.
• Multiple institutional investors have increased their holdings in Micron Technology, indicating growing interest in the semiconductor manufacturer.
• Analysts have recently raised their price targets for Micron Technology, with TD Cowen setting a new target of $180 and Robert W. Baird raising theirs to $200, reflecting a generally positive outlook on the stock.

Orrstown Financial Services Inc. purchased a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,783 shares of the semiconductor manufacturer's stock, valued at approximately $343,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MU. Sunbeam Capital Management LLC acquired a new stake in Micron Technology in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at about $33,000. Roxbury Financial LLC increased its position in shares of Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after purchasing an additional 300 shares during the period. AllSquare Wealth Management LLC increased its stake in Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock valued at $35,000 after buying an additional 200 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in Micron Technology during the 1st quarter worth $36,000. Institutional investors own 80.84% of the company's stock.

Micron Technology Trading Down 3.6%

Shares of NASDAQ MU traded down $6.16 on Friday, reaching $162.73. 37,222,841 shares of the company traded hands, compared to its average volume of 20,882,956. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $170.45. The company has a 50 day moving average of $123.82 and a 200 day moving average of $105.77. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $182.11 billion, a PE ratio of 29.32 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same quarter last year, the company earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were paid a $0.115 dividend. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, July 7th. Micron Technology's dividend payout ratio (DPR) is 8.29%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on MU shares. Morgan Stanley boosted their price objective on shares of Micron Technology from $98.00 to $135.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Zacks Research upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 19th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Micron Technology from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, September 15th. KeyCorp raised their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Finally, KGI Securities cut shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 23rd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $163.50.

Insider Buying and Selling at Micron Technology

In other news, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the transaction, the chief financial officer owned 264,036 shares in the company, valued at approximately $28,864,415.52. This trade represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total value of $2,502,200.00. Following the sale, the executive vice president directly owned 166,353 shares in the company, valued at $20,812,423.83. This trade represents a 10.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 275,946 shares of company stock valued at $34,242,567 in the last quarter. 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.