VIRGINIA RETIREMENT SYSTEMS ET Al Invests $28.55 Million in Micron Technology, Inc. $MU

Key Points

• The Virginia Retirement Systems invested approximately $28.55 million in Micron Technology, acquiring 231,600 shares during the second quarter.
• Micron Technology recently announced a quarterly dividend of $0.115 per share, with a dividend yield of 0.2%, set to be paid on October 21st.
• Micron's stock has received multiple upgrades from analysts, with a consensus rating of "Buy" and a price target of $198.32, indicating strong growth expectations.

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 231,600 shares of the semiconductor manufacturer's stock, valued at approximately $28,545,000.

Several other institutional investors have also recently made changes to their positions in MU. AllSquare Wealth Management LLC lifted its stake in shares of Micron Technology by 100.0% in the 1st quarter. AllSquare Wealth Management LLC now owns 400 shares of the semiconductor manufacturer's stock worth $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. purchased a new stake in Micron Technology during the 1st quarter valued at approximately $36,000. Hilltop National Bank purchased a new stake in Micron Technology during the 2nd quarter valued at approximately $37,000. Saudi Central Bank purchased a new stake in Micron Technology during the 1st quarter valued at approximately $38,000. Finally, Pinnacle Bancorp Inc. grew its holdings in Micron Technology by 91.0% during the 1st quarter. Pinnacle Bancorp Inc. now owns 512 shares of the semiconductor manufacturer's stock valued at $44,000 after buying an additional 244 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on MU. Erste Group Bank began coverage on shares of Micron Technology in a report on Thursday, August 14th. They set a "buy" rating for the company. KGI Securities raised shares of Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 24th. Wall Street Zen upgraded shares of Micron Technology from a "buy" rating to a "strong-buy" rating in a research report on Sunday, October 12th. The Goldman Sachs Group boosted their price target on shares of Micron Technology from $145.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday, October 9th. Finally, UBS Group boosted their price target on shares of Micron Technology from $225.00 to $245.00 and gave the stock a "buy" rating in a research report on Thursday. Five analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, Micron Technology presently has a consensus rating of "Buy" and a consensus price target of $198.32.

Micron Technology Stock Down 0.1%

NASDAQ:MU opened at $202.38 on Monday. Micron Technology, Inc. has a twelve month low of $61.54 and a twelve month high of $206.34. The company has a market cap of $227.17 billion, a price-to-earnings ratio of 26.66, a price-to-earnings-growth ratio of 0.45 and a beta of 1.56. The stock has a fifty day simple moving average of $151.20 and a 200-day simple moving average of $118.00. The company has a current ratio of 2.52, a quick ratio of 1.79 and a debt-to-equity ratio of 0.26.

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, hitting the consensus estimate of $2.86. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The business had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period last year, the company earned $1.18 earnings per share. The business's revenue for the quarter was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Analysts anticipate that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Dividend Announcement

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

Insider Transactions at Micron Technology

In other news, Director Richard M. Beyer sold 5,552 shares of the firm's stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total transaction of $864,335.36. Following the transaction, the director owned 96,031 shares in the company, valued at approximately $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Sanjay Mehrotra sold 21,563 shares of the firm's stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $188.47, for a total value of $4,063,978.61. Following the transaction, the chief executive officer owned 272,648 shares in the company, valued at approximately $51,385,968.56. This represents a 7.33% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 146,956 shares of company stock worth $22,841,025. 0.30% of the stock is currently owned by insiders.

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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