Triumph Capital Management Cuts Holdings in Micron Technology, Inc. $MU

Key Points

• Triumph Capital Management reduced its holdings in Micron Technology by 63.6% during the second quarter, now owning 2,691 shares worth $332,000 after selling 4,699 shares.
• Micron Technology reported earnings per share of $1.91 for the recent quarter, which exceeded analyst estimates of $1.57, along with revenues of $9.30 billion, surpassing expectations of $8.83 billion.
• The company announced a quarterly dividend of $0.115 per share, resulting in an annualized dividend of $0.46, with a dividend yield of 0.3%.

Triumph Capital Management trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 63.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,691 shares of the semiconductor manufacturer's stock after selling 4,699 shares during the period. Triumph Capital Management's holdings in Micron Technology were worth $332,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MU. Brighton Jones LLC raised its stake in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after buying an additional 976 shares in the last quarter. Bank Pictet & Cie Europe AG raised its stake in shares of Micron Technology by 19.5% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 85,722 shares of the semiconductor manufacturer's stock worth $7,214,000 after buying an additional 13,985 shares in the last quarter. State of Wyoming raised its stake in shares of Micron Technology by 2,336.1% during the 4th quarter. State of Wyoming now owns 3,581 shares of the semiconductor manufacturer's stock worth $301,000 after buying an additional 3,434 shares in the last quarter. Woodline Partners LP raised its stake in shares of Micron Technology by 128.8% during the 4th quarter. Woodline Partners LP now owns 865,041 shares of the semiconductor manufacturer's stock worth $72,802,000 after buying an additional 486,931 shares in the last quarter. Finally, Wesleyan Assurance Society acquired a new stake in shares of Micron Technology in the 4th quarter worth approximately $6,219,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Trading Up 0.7%

Shares of Micron Technology stock opened at $158.82 on Wednesday. The company has a quick ratio of 1.89, a current ratio of 2.75 and a debt-to-equity ratio of 0.30. The firm has a market cap of $177.74 billion, a PE ratio of 28.62 and a beta of 1.47. The business's fifty day moving average is $121.38 and its two-hundred day moving average is $104.16. Micron Technology, Inc. has a fifty-two week low of $61.54 and a fifty-two week high of $160.34.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.57 by $0.34. The business had revenue of $9.30 billion for the quarter, compared to analyst estimates of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same period last year, the company posted $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 22nd. Investors of record on Monday, July 7th were given 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 8.29%.

Insiders Place Their Bets

In related news, EVP Scott J. Deboer sold 20,000 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.11, for a total value of $2,502,200.00. Following the transaction, the executive vice president directly owned 166,353 shares of the company's stock, valued at approximately $20,812,423.83. This trade represents a 10.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Manish H. Bhatia sold 80,000 shares of the stock in a transaction on Monday, June 30th. The stock was sold at an average price of $123.16, for a total value of $9,852,800.00. Following the completion of the transaction, the executive vice president directly owned 275,067 shares in the company, valued at $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. In the last ninety days, insiders sold 268,446 shares of company stock worth $33,055,075. Corporate insiders own 0.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. TD Cowen upped their price target on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Thursday, June 26th. KeyCorp upped their price target on Micron Technology from $135.00 to $160.00 and gave the stock an "overweight" rating in a report on Thursday, June 26th. KGI Securities cut Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 23rd. Wall Street Zen cut Micron Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday. Finally, JPMorgan Chase & Co. upped their price target on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.24.

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.

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