Raymond James Financial Inc. Increases Stock Position in Micron Technology, Inc. $MU

Key Points

• Raymond James Financial Inc. increased its stake in Micron Technology by 3.1% during the first quarter, now holding approximately 1.66 million shares worth $144.59 million.
• Multiple institutional investors, including Cresset Asset Management and Tocqueville Asset Management, have significantly increased their positions in Micron Technology, collectively enhancing confidence in the company's performance.
• Micron Technology recently reported better-than-expected earnings, with $1.91 earnings per share compared to the consensus estimate of $1.57, alongside a revenue of $9.30 billion for the quarter.

Raymond James Financial Inc. boosted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,664,080 shares of the semiconductor manufacturer's stock after buying an additional 49,720 shares during the period. Raymond James Financial Inc. owned approximately 0.15% of Micron Technology worth $144,592,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Orca Wealth Management LLC raised its position in Micron Technology by 1.5% during the first quarter. Orca Wealth Management LLC now owns 8,485 shares of the semiconductor manufacturer's stock valued at $737,000 after purchasing an additional 129 shares in the last quarter. Sunpointe LLC raised its position in Micron Technology by 4.0% during the first quarter. Sunpointe LLC now owns 3,443 shares of the semiconductor manufacturer's stock valued at $300,000 after purchasing an additional 131 shares in the last quarter. Foundations Investment Advisors LLC raised its position in Micron Technology by 2.1% during the first quarter. Foundations Investment Advisors LLC now owns 6,561 shares of the semiconductor manufacturer's stock valued at $570,000 after purchasing an additional 138 shares in the last quarter. Allen Capital Group LLC grew its stake in shares of Micron Technology by 3.2% during the first quarter. Allen Capital Group LLC now owns 4,460 shares of the semiconductor manufacturer's stock valued at $388,000 after buying an additional 139 shares during the last quarter. Finally, Atlas Capital Advisors Inc. grew its stake in shares of Micron Technology by 0.7% during the first quarter. Atlas Capital Advisors Inc. now owns 19,688 shares of the semiconductor manufacturer's stock valued at $1,711,000 after buying an additional 143 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Micron Technology Stock Performance

NASDAQ:MU traded down $5.3420 during trading hours on Wednesday, reaching $116.7080. The company had a trading volume of 21,888,913 shares, compared to its average volume of 22,975,383. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $129.85. The firm has a market cap of $130.61 billion, a price-to-earnings ratio of 21.01 and a beta of 1.37. The firm's 50 day moving average price is $118.43 and its 200-day moving average price is $99.56.

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

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.4%. Micron Technology's payout ratio is presently 8.29%.

Insider Activity

In other news, CFO Mark J. Murphy sold 34,000 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total transaction of $3,716,880.00. Following the completion of the sale, the chief financial officer owned 264,036 shares of the company's stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sumit Sadana sold 92,638 shares of the business's stock in a transaction on Friday, June 27th. The shares were sold at an average price of $125.49, for a total transaction of $11,625,142.62. Following the sale, the executive vice president directly owned 201,326 shares of the company's stock, valued at approximately $25,264,399.74. The trade was a 31.51% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 286,042 shares of company stock worth $34,679,277. Company insiders own 0.30% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MU. Cantor Fitzgerald raised their price objective on Micron Technology from $145.00 to $155.00 and gave the company an "overweight" rating in a research note on Thursday, June 26th. Stifel Nicolaus raised their target price on Micron Technology from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Robert W. Baird raised their target price on Micron Technology from $163.00 to $200.00 and gave the stock an "outperform" rating in a research note on Friday, June 27th. TD Cowen raised their target price on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Finally, Deutsche Bank Aktiengesellschaft started coverage on Micron Technology in a research note on Thursday, July 10th. They issued a "buy" rating and a $150.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Micron Technology presently has a consensus rating of "Moderate Buy" and an average price target of $147.24.

Micron Technology Company 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.