Salem Investment Counselors Inc. Has $27.20 Million Position in Micron Technology, Inc. $MU

Key Points

• Salem Investment Counselors Inc. holds a position of $27.20 million in Micron Technology, which represents about 0.9% of its total investment portfolio.
• Institutional investors collectively own 80.84% of Micron Technology's stock, with several firms significantly increasing their positions in the latest quarter.
• Micron Technology reported earnings of $1.91 per share for its last quarter, exceeding analysts' expectations, and has set a positive outlook for fiscal year 2025 with projected earnings between 2.350-2.650 EPS.

Salem Investment Counselors Inc. reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 220,663 shares of the semiconductor manufacturer's stock after selling 2,978 shares during the period. Micron Technology comprises about 0.9% of Salem Investment Counselors Inc.'s investment portfolio, making the stock its 24th biggest position. Salem Investment Counselors Inc.'s holdings in Micron Technology were worth $27,197,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. RDA Financial Network boosted its position in shares of Micron Technology by 7.7% during the 2nd quarter. RDA Financial Network now owns 8,376 shares of the semiconductor manufacturer's stock valued at $1,032,000 after acquiring an additional 601 shares in the last quarter. Sage Capital Advisors llc lifted its holdings in Micron Technology by 17.9% during the 2nd quarter. Sage Capital Advisors llc now owns 2,890 shares of the semiconductor manufacturer's stock valued at $356,000 after purchasing an additional 438 shares during the last quarter. Fiduciary Financial Group LLC lifted its holdings in Micron Technology by 84.5% during the 2nd quarter. Fiduciary Financial Group LLC now owns 5,378 shares of the semiconductor manufacturer's stock valued at $650,000 after purchasing an additional 2,463 shares during the last quarter. Howard Financial Services LTD. bought a new position in Micron Technology during the 2nd quarter valued at about $232,000. Finally, Doliver Advisors LP lifted its holdings in Micron Technology by 2.4% during the 2nd quarter. Doliver Advisors LP now owns 7,046 shares of the semiconductor manufacturer's stock valued at $868,000 after purchasing an additional 163 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Needham & Company LLC reissued a "buy" rating and set a $150.00 price target on shares of Micron Technology in a report on Monday, August 11th. Susquehanna lifted their price target on shares of Micron Technology from $150.00 to $160.00 and gave the company a "positive" rating in a report on Thursday, June 26th. KGI Securities downgraded shares of Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Morgan Stanley lifted their price target 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. Finally, Cantor Fitzgerald boosted their target price on shares of Micron Technology from $145.00 to $155.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus price target of $151.76.

Micron Technology Trading Up 4.4%

Shares of NASDAQ MU opened at $157.23 on Friday. 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 company has a market cap of $175.96 billion, a PE ratio of 28.33 and a beta of 1.47. The company has a 50-day moving average of $119.94 and a two-hundred day moving average of $103.25. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $158.28.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $8.83 billion. Micron Technology had a net margin of 18.41% and a return on equity of 13.60%. During the same period in the previous year, the firm posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, equities analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were paid a dividend of $0.115 per share. 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 payout ratio is 8.29%.

Insider Buying and Selling at Micron Technology

In related news, Director Mary Pat Mccarthy sold 2,404 shares of the business's stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $115.67, for a total transaction of $278,070.68. Following the completion of the sale, the director directly owned 20,146 shares of the company's stock, valued at $2,330,287.82. The trade was a 10.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Manish H. Bhatia sold 80,000 shares of the business's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $123.16, for a total transaction of $9,852,800.00. Following the sale, the executive vice president directly owned 275,067 shares of the company's stock, valued at approximately $33,877,251.72. This trade represents a 22.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 275,946 shares of company stock valued at $33,962,819 over the last 90 days. 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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