Parkway Wealth Management Group LLC Sells 2,868 Shares of Micron Technology, Inc. $MU

Key Points

• Parkway Wealth Management Group reduced its Micron stake by 21.6% in Q1, selling 2,868 shares and ending with 10,399 shares worth about $3.5 million.
• Micron’s latest earnings topped expectations, with EPS of $25.11 versus $21.39 expected and revenue of $41.46 billion versus $35.91 billion forecast, while revenue jumped 345.8% year over year.
• Wall Street sentiment remains bullish, with multiple analysts lifting price targets and the stock carrying a consensus “Buy” rating, even as insiders have also been selling shares recently.

Parkway Wealth Management Group LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 21.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,399 shares of the semiconductor manufacturer's stock after selling 2,868 shares during the quarter. Parkway Wealth Management Group LLC's holdings in Micron Technology were worth $3,513,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock valued at $30,427,016,000 after acquiring an additional 1,954,644 shares in the last quarter. State Street Corp boosted its position in Micron Technology by 2.1% in the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer's stock valued at $15,061,310,000 after buying an additional 1,090,644 shares during the last quarter. Capital International Investors boosted its holdings in Micron Technology by 0.7% in the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock valued at $3,910,198,000 after acquiring an additional 155,860 shares during the last quarter. Norges Bank bought a new position in shares of Micron Technology in the 4th quarter valued at about $6,433,456,000. Finally, Morgan Stanley boosted its stake in Micron Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer's stock valued at $4,679,771,000 after acquiring an additional 794,289 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the sale, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 146,000 shares of company stock worth $85,486,715. Company insiders own 0.24% of the company's stock.

Micron Technology Price Performance

MU opened at $1,213.56 on Friday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,255.00. The company has a fifty day simple moving average of $803.70 and a 200 day simple moving average of $520.37. The stock has a market cap of $1.37 trillion, a P/E ratio of 27.47 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 EPS for the quarter, topping the consensus estimate of $21.39 by $3.72. The business had revenue of $41.46 billion for the quarter, compared to the consensus estimate of $35.91 billion. Micron Technology had a return on equity of 82.33% and a net margin of 55.91%.The firm's revenue was up 345.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, research analysts expect that Micron Technology, Inc. will post 60.62 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.0%. The ex-dividend date is Monday, July 6th. Micron Technology's payout ratio is 2.83%.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron said customers have committed to about $22 billion in memory-chip purchases and signed long-term strategic agreements, improving visibility and reducing concerns about the usual boom-bust cycle.
• Positive Sentiment: Analysts across Wall Street raised price targets and reiterated bullish ratings, citing strong HBM and DRAM demand, tight supply, and better-than-expected margin expansion.
• Positive Sentiment: The earnings report sparked a broader rally in semiconductor stocks globally, helping sentiment across the AI and memory space.
• Positive Sentiment: Micron’s results also reignited the argument that AI infrastructure spending is creating a multi-year shortage in memory, which could support pricing power and earnings growth.
• Neutral Sentiment: Micron declared a quarterly dividend of $0.15 per share, which is a routine capital-return update and not a major driver of the stock move.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. TD Cowen increased their price target on Micron Technology from $1,500.00 to $1,600.00 and gave the company a "buy" rating in a research note on Thursday. KeyCorp upped their price objective on Micron Technology from $600.00 to $1,600.00 and gave the company an "overweight" rating in a report on Thursday. Cantor Fitzgerald increased their target price on Micron Technology from $700.00 to $1,500.00 and gave the company an "overweight" rating in a research note on Monday, June 8th. The Goldman Sachs Group raised their target price on Micron Technology from $900.00 to $1,100.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Micron Technology in a research report on Tuesday, May 12th. Five research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average target price of $1,228.30.

About Micron Technology

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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