Sovran Advisors LLC Trims Stock Position in Micron Technology, Inc. $MU

Key Points

• Sovran Advisors LLC reduced its stake in Micron Technology, Inc. by 39.1%, selling 3,346 shares and leaving it with 5,201 shares valued at $647,000.
• Micron reported strong Q2 earnings, with $1.91 earnings per share and revenues of $9.30 billion, exceeding analysts’ expectations.
• The company recently announced a quarterly dividend of $0.115 per share, resulting in a dividend yield of 0.3%.

Sovran Advisors LLC lowered its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 39.1% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,201 shares of the semiconductor manufacturer's stock after selling 3,346 shares during the quarter. Sovran Advisors LLC's holdings in Micron Technology were worth $647,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Sunflower Bank N.A. bought a new stake in shares of Micron Technology in the 2nd quarter worth about $201,000. Jackson Square Capital LLC increased its holdings in shares of Micron Technology by 17.1% in the 2nd quarter. Jackson Square Capital LLC now owns 116,233 shares of the semiconductor manufacturer's stock worth $14,326,000 after buying an additional 16,954 shares during the last quarter. Sivia Capital Partners LLC increased its holdings in shares of Micron Technology by 21.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock worth $435,000 after buying an additional 628 shares during the last quarter. Sawyer & Company Inc increased its holdings in shares of Micron Technology by 2.0% in the 2nd quarter. Sawyer & Company Inc now owns 17,874 shares of the semiconductor manufacturer's stock worth $2,203,000 after buying an additional 349 shares during the last quarter. Finally, Central Valley Advisors LLC bought a new stake in shares of Micron Technology in the 2nd quarter worth about $334,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Insider Activity

In related news, CEO Sanjay Mehrotra sold 7,319 shares of the firm's stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $158.29, for a total transaction of $1,158,524.51. Following the completion of the sale, the chief executive officer directly owned 340,148 shares in the company, valued at approximately $53,842,026.92. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Mark J. Murphy sold 34,000 shares of Micron Technology stock in a transaction dated 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 sale, the chief financial officer owned 264,036 shares of the company's stock, valued at approximately $28,864,415.52. This represents a 11.41% 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 Stock Performance

MU stock traded up $3.12 during midday trading on Monday, hitting $165.85. 17,631,290 shares of the stock traded hands, compared to its average volume of 22,777,549. The firm has a market cap of $185.60 billion, a P/E ratio of 29.93 and a beta of 1.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. The stock's fifty day simple moving average is $123.82 and its 200-day simple moving average is $105.77. Micron Technology, Inc. has a 1-year low of $61.54 and a 1-year high of $170.45.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for 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 last year, the firm posted $0.62 earnings per share. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were paid a $0.115 dividend. This represents a $0.46 annualized dividend 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 currently 8.29%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Rosenblatt Securities reiterated a "buy" rating and set a $200.00 price target on shares of Micron Technology in a report on Thursday. Wall Street Zen downgraded shares of Micron Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday, September 13th. Morgan Stanley boosted their price objective on shares of Micron Technology from $135.00 to $160.00 and gave the company an "equal weight" rating in a research report on Monday. Finally, Robert W. Baird boosted their price objective on shares of Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a research report on Friday, June 27th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $165.54.

About Micron Technology

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.