Sumitomo Mitsui Trust Group Inc. Buys 68,267 Shares of Micron Technology, Inc. $MU

Key Points

• Sumitomo Mitsui Trust Group Inc. increased its stake in Micron Technology by 1.6%, acquiring an additional 68,267 shares, bringing its total ownership to approximately $546.6 million.
• Multiple research firms have recently upgraded their ratings and price targets for Micron Technology, with an average target now at $200.64, reflecting growing investor confidence.
• Micron Technology reported solid earnings, with revenues of $11.32 billion, and recently announced a quarterly dividend of $0.115 per share.

Sumitomo Mitsui Trust Group Inc. lifted its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 1.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,434,898 shares of the semiconductor manufacturer's stock after buying an additional 68,267 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.40% of Micron Technology worth $546,601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 180 Wealth Advisors LLC lifted its position in Micron Technology by 1.9% during the 2nd quarter. 180 Wealth Advisors LLC now owns 5,235 shares of the semiconductor manufacturer's stock worth $645,000 after buying an additional 99 shares in the last quarter. SilverOak Wealth Management LLC lifted its holdings in shares of Micron Technology by 3.5% during the second quarter. SilverOak Wealth Management LLC now owns 2,955 shares of the semiconductor manufacturer's stock worth $364,000 after purchasing an additional 100 shares during the period. HMS Capital Management LLC increased its stake in Micron Technology by 0.6% in the second quarter. HMS Capital Management LLC now owns 19,271 shares of the semiconductor manufacturer's stock valued at $2,375,000 after purchasing an additional 107 shares in the last quarter. D.B. Root & Company LLC grew its holdings in shares of Micron Technology by 3.7% during the first quarter. D.B. Root & Company LLC now owns 3,018 shares of the semiconductor manufacturer's stock valued at $262,000 after buying an additional 108 shares during the last quarter. Finally, Werlinich Asset Management LLC grew its holdings in shares of Micron Technology by 1.1% during the second quarter. Werlinich Asset Management LLC now owns 10,685 shares of the semiconductor manufacturer's stock valued at $1,317,000 after buying an additional 115 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MU. Erste Group Bank assumed coverage on shares of Micron Technology in a report on Thursday, August 14th. They set a "buy" rating on the stock. Piper Sandler increased their price target on shares of Micron Technology from $165.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 24th. Itau BBA Securities assumed coverage on shares of Micron Technology in a research note on Tuesday, October 7th. They issued an "outperform" rating and a $249.00 price target for the company. Morgan Stanley upgraded shares of Micron Technology from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $160.00 to $220.00 in a research note on Monday, October 6th. Finally, Mizuho raised their price target on shares of Micron Technology from $195.00 to $240.00 and gave the company an "outperform" rating in a report on Friday, October 17th. Five analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $200.64.

Insiders Place Their Bets

In related news, EVP April S. Arnzen sold 15,000 shares of the business's stock in a transaction that occurred on Tuesday, September 30th. The stock was 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 owned 131,580 shares in the company, valued at $21,584,383.20. The trade was a 10.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard M. Beyer sold 5,552 shares of Micron Technology stock in a transaction that occurred on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the transaction, the director directly owned 96,031 shares in the company, valued at approximately $14,950,106.08. This trade represents a 5.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 144,256 shares of company stock worth $25,564,625 in the last three months. 0.30% of the stock is owned by company insiders.

Micron Technology Trading Up 3.3%

Shares of NASDAQ:MU opened at $213.43 on Friday. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $214.75. The firm has a market capitalization of $239.57 billion, a price-to-earnings ratio of 28.12, a price-to-earnings-growth ratio of 0.44 and a beta of 1.56. The business's 50 day moving average price is $157.46 and its 200-day moving average price is $121.07. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.52 and a quick ratio of 1.79.

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

Micron Technology Dividend Announcement

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

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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