S Bank Fund Management Ltd Decreases Holdings in Micron Technology, Inc. $MU

Key Points

• S Bank Fund Management Ltd reduced its stake in Micron Technology, Inc. by 12.9% during the 2nd quarter, selling 10,518 shares and now holding 70,817 shares valued at $8.7 million.
• Micron Technology reported $2.86 earnings per share for its latest quarter, meeting analysts' expectations and showing a 46.1% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.115 per share with an ex-dividend date of October 3rd, representing an annual yield of 0.2%.

S Bank Fund Management Ltd reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 12.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,817 shares of the semiconductor manufacturer's stock after selling 10,518 shares during the period. Micron Technology accounts for about 1.3% of S Bank Fund Management Ltd's holdings, making the stock its 15th biggest position. S Bank Fund Management Ltd's holdings in Micron Technology were worth $8,728,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of MU. Nuveen LLC acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $369,191,000. Vanguard Group Inc. raised its position in shares of Micron Technology by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after purchasing an additional 2,049,163 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Micron Technology by 23.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock worth $922,467,000 after purchasing an additional 2,038,641 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after purchasing an additional 1,416,174 shares during the last quarter. Finally, Keystone Investors PTE Ltd. acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $96,253,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 2.6%

MU stock opened at $191.94 on Thursday. The business has a fifty day simple moving average of $147.72 and a 200-day simple moving average of $115.92. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. Micron Technology, Inc. has a 52 week low of $61.54 and a 52 week high of $201.00. The company has a market cap of $215.45 billion, a price-to-earnings ratio of 25.29, a PEG ratio of 0.41 and a beta of 1.56.

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

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 21st. Investors of record on Friday, October 3rd will be given a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Friday, October 3rd. Micron Technology's dividend payout ratio is 6.06%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Itau BBA Securities assumed coverage on Micron Technology in a report on Tuesday, October 7th. They issued an "outperform" rating and a $249.00 price target for the company. CLSA assumed coverage on Micron Technology in a report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price target for the company. Needham & Company LLC boosted their price target on Micron Technology from $150.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, September 24th. Robert W. Baird boosted their price target on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Finally, Erste Group Bank initiated coverage on Micron Technology in a report on Thursday, August 14th. They issued a "buy" rating for the company. Five investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Micron Technology presently has an average rating of "Buy" and an average target price of $194.57.

Insider Buying and Selling

In related news, EVP April S. Arnzen sold 15,000 shares of the company'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 sale, the executive vice president directly owned 131,580 shares of the company's stock, valued at approximately $21,584,383.20. This represents a 10.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of the company's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the sale, the director directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 146,956 shares of company stock valued at $22,841,025. 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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