Victory Financial Group LLC Acquires 1,526 Shares of Micron Technology, Inc. $MU

Key Points

• Victory Financial Group increased its Micron Technology stake by 41.4% in the third quarter, purchasing 1,526 additional shares to hold 5,216 shares valued at approximately $5.56 million.
• Institutional investors own 80.84% of Micron’s shares, while company insiders sold 83,545 shares worth about $78.5 million over the past 90 days.
• Micron reported quarterly earnings and revenue above analyst expectations, with revenue up 379.1% year over year. Analysts maintain a broadly bullish outlook, with a consensus “Moderate Buy” rating and an average price target of $1,407.88.

Victory Financial Group LLC increased its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 41.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,216 shares of the semiconductor manufacturer's stock after purchasing an additional 1,526 shares during the period. Victory Financial Group LLC's holdings in Micron Technology were worth $5,556,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Andar Capital Management HK Ltd increased its position in Micron Technology by 856,960.3% in the 2nd quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer's stock worth $39,571,847,000 after buying an additional 34,278,413 shares during the period. Primecap Management Co. CA bought a new stake in shares of Micron Technology in the second quarter valued at approximately $22,182,263,000. Bank of America Corp DE boosted its position in shares of Micron Technology by 26.6% in the second quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer's stock valued at $11,744,621,000 after acquiring an additional 2,136,470 shares during the period. Legal & General Group Plc acquired a new stake in shares of Micron Technology in the second quarter worth $8,402,393,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Micron Technology by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,967,065 shares of the semiconductor manufacturer's stock worth $2,352,282,000 after acquiring an additional 86,488 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 15,000 shares of the business's stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total value of $14,014,350.00. Following the sale, the executive vice president owned 191,021 shares of the company's stock, valued at $178,469,010.09. The trade was a 7.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $968.90, for a total value of $38,756,000.00. Following the completion of the sale, the chief executive officer owned 264,503 shares in the company, valued at $256,276,956.70. This trade represents a 13.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 83,545 shares of company stock valued at $78,460,850. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Stock Performance

NASDAQ:MU opened at $928.76 on Wednesday. The company has a 50-day moving average of $979.69 and a 200-day moving average of $735.60. Micron Technology, Inc. has a 52 week low of $192.59 and a 52 week high of $1,255.00. The company has a market capitalization of $1.05 trillion, a price-to-earnings ratio of 12.52 and a beta of 2.22.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, beating analysts' consensus estimates of $31.77 by $1.65. The business had revenue of $54.23 billion during the quarter, compared to the consensus estimate of $51.33 billion. During the same period in the previous year, the firm earned $3.03 EPS. The business's revenue was up 379.1% compared to the same quarter last year. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Sell-side analysts forecast that Micron Technology, Inc. will post 177.03 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 14th. Micron Technology's payout ratio is presently 0.81%.

More Micron Technology News

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Elon Musk predicted that humanoid robots could require enormous amounts of memory, prompting analysts to frame robotics as a potentially significant long-term volume opportunity for Micron and SK hynix. Separate forecasts suggest humanoid robots could use substantially more memory by 2030. Elon Musk Says Robots Will Need More Memory
• Positive Sentiment: Bank of America reiterated its buy rating and became more constructive on memory following meetings with industry executives. The firm believes customers are increasingly securing supply through long-term agreements, supporting pricing and visibility for Micron. Bank of America Reiterates Buy on Micron
• Positive Sentiment: Micron’s recent earnings beat and record results continue to support the bullish case. Strong AI-related high-bandwidth-memory demand, tight supply, and favorable earnings expectations have led some analysts to argue that the stock remains inexpensive relative to its growth potential. Can Micron Survive a 40% Drop in Memory Prices?
• Positive Sentiment: Micron’s new employee bonus plan may help align compensation with company performance and support retention as the business expands its AI-memory capacity. Micron Unveils a New Bonus Plan

Wall Street Analysts Forecast Growth

Several research firms recently commented on MU. Zacks Research upgraded shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $2,000.00 price target on shares of Micron Technology in a report on Thursday, October 1st. President Capital raised their price target on shares of Micron Technology to $1,500.00 and gave the stock a "buy" rating in a research report on Friday, July 17th. Raymond James Financial restated an "outperform" rating on shares of Micron Technology in a report on Thursday, October 1st. Finally, The Goldman Sachs Group set a $1,250.00 price objective on shares of Micron Technology in a research report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Micron Technology presently has an average rating of "Moderate Buy" and a consensus price target of $1,407.88.

Micron Technology Profile

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.

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