Micron Technology, Inc. $MU Shares Sold by Sovran Advisors LLC

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 decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 39.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of MU. Brighton Jones LLC boosted its stake in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after buying an additional 976 shares during the period. Bank Pictet & Cie Europe AG boosted its position in Micron Technology by 19.5% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock valued at $7,214,000 after acquiring an additional 13,985 shares during the last quarter. State of Wyoming boosted its position in Micron Technology by 2,336.1% during the fourth quarter. State of Wyoming now owns 3,581 shares of the semiconductor manufacturer's stock valued at $301,000 after acquiring an additional 3,434 shares during the last quarter. Focus Partners Advisor Solutions LLC boosted its position in shares of Micron Technology by 12.6% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 7,922 shares of the semiconductor manufacturer's stock worth $667,000 after purchasing an additional 885 shares in the last quarter. Finally, Vise Technologies Inc. boosted its position in shares of Micron Technology by 92.8% during the 4th quarter. Vise Technologies Inc. now owns 13,831 shares of the semiconductor manufacturer's stock worth $1,164,000 after purchasing an additional 6,656 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Wall Street Analyst Weigh In

MU has been the topic of several recent research reports. CLSA initiated coverage on shares of Micron Technology in a research report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price target on the stock. Rosenblatt Securities reiterated a "buy" rating and issued a $200.00 price objective on shares of Micron Technology in a research note on Thursday, September 18th. Citigroup raised their price target on shares of Micron Technology from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, September 11th. Wells Fargo & Company raised their price target on shares of Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. Finally, Piper Sandler raised their price objective on shares of Micron Technology from $120.00 to $165.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $165.54.

Insider Activity

In other Micron Technology news, CEO Sanjay Mehrotra sold 13,798 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $162.20, for a total transaction of $2,238,035.60. Following the completion of the transaction, the chief executive officer owned 325,148 shares of the company's stock, valued at $52,739,005.60. This trade represents a 4.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Pat Mccarthy sold 2,404 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $115.67, for a total transaction of $278,070.68. Following the sale, the director directly owned 20,146 shares in the company, valued at $2,330,287.82. This represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 255,946 shares of company stock worth $32,306,159. Company insiders own 0.30% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ:MU traded up $3.28 during midday trading on Tuesday, reaching $167.90. 9,784,674 shares of the company were exchanged, compared to its average volume of 22,747,727. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $170.45. 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 business's fifty day moving average is $124.74 and its two-hundred day moving average is $106.27. The stock has a market cap of $187.90 billion, a PE ratio of 30.31 and a beta of 1.47.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 EPS for the quarter, topping the consensus estimate of $1.57 by $0.34. The company 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 quarter last year, the firm posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. As a group, analysts predict that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Shareholders of record on Monday, July 7th were given a dividend of $0.115 per share. The ex-dividend date was Monday, July 7th. This represents a $0.46 dividend on an annualized basis and a yield of 0.3%. Micron Technology's dividend payout ratio is currently 8.29%.

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.