Voya Investment Management LLC Acquires 525,596 Shares of Micron Technology, Inc. $MU

Key Points

• Voya Investment Management LLC significantly increased its stake in Micron Technology, purchasing an additional 525,596 shares, bringing its total holdings to nearly 3 million shares valued at approximately $256.7 million.
• Micron Technology reported strong financial results for its latest quarter, with $1.91 earnings per share, exceeding analysts' expectations of $1.57, alongside a revenue of $9.30 billion.
• The company recently declared a quarterly dividend of $0.115 per share, which represents an annualized yield of 0.3% and a low dividend payout ratio of 8.29%.

Voya Investment Management LLC grew its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 21.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,956,411 shares of the semiconductor manufacturer's stock after purchasing an additional 525,596 shares during the quarter. Voya Investment Management LLC owned about 0.26% of Micron Technology worth $256,701,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new position in shares of Micron Technology in the 4th quarter valued at $26,000. Opal Wealth Advisors LLC acquired a new position in shares of Micron Technology in the 1st quarter valued at $33,000. 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 valued at $35,000 after purchasing an additional 200 shares during the period. MJT & Associates Financial Advisory Group Inc. acquired a new stake in Micron Technology during the 1st quarter worth $36,000. Finally, Roxbury Financial LLC raised its stake in Micron Technology by 306.1% during the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock worth $37,000 after buying an additional 300 shares during the period. 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 research analyst reports. Wells Fargo & Company raised their price objective on Micron Technology from $150.00 to $170.00 and gave the stock an "overweight" rating in a research note on Thursday, June 26th. TD Cowen raised their price objective on Micron Technology from $125.00 to $150.00 and gave the stock a "buy" rating in a research note on Thursday, June 26th. Bank of America raised their price objective on Micron Technology from $84.00 to $140.00 and gave the stock a "neutral" rating in a research note on Thursday, June 26th. JPMorgan Chase & Co. raised their price objective on Micron Technology from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Tuesday, August 12th. Finally, CLSA initiated coverage on Micron Technology in a research note on Wednesday, August 27th. They set an "outperform" rating and a $155.00 price objective on the stock. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Micron Technology has an average rating of "Moderate Buy" and an average price target of $151.76.

Micron Technology Stock Up 4.4%

MU stock traded up $6.66 during trading hours on Friday, reaching $157.23. 32,223,879 shares of the stock were exchanged, compared to its average volume of 18,134,322. The firm's 50-day moving average is $119.94 and its 200-day moving average is $103.25. The company has a market cap of $175.96 billion, a price-to-earnings ratio of 28.33 and a beta of 1.47. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.75 and a quick ratio of 1.89. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $158.28.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 25th. The semiconductor manufacturer reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.57 by $0.34. The firm had revenue of $9.30 billion during the quarter, compared to analysts' expectations of $8.83 billion. Micron Technology had a return on equity of 13.60% and a net margin of 18.41%.During the same quarter in the prior year, the company earned $0.62 EPS. Micron Technology has set its Q4 2025 guidance at 2.350-2.650 EPS. On average, equities research analysts expect that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 22nd. Stockholders of record on Monday, July 7th were issued a $0.115 dividend. The ex-dividend date was Monday, July 7th. This represents a $0.46 annualized dividend and a dividend yield of 0.3%. Micron Technology's dividend payout ratio (DPR) is presently 8.29%.

Insider Buying and Selling

In other news, EVP Manish H. Bhatia sold 80,000 shares of the firm's stock in a transaction dated 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 owned 275,067 shares in the company, valued at $33,877,251.72. This trade represents a 22.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Mark J. Murphy sold 34,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $109.32, for a total value of $3,716,880.00. Following the completion of the transaction, the chief financial officer owned 264,036 shares of the company's stock, valued at $28,864,415.52. The trade was a 11.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 275,946 shares of company stock worth $33,962,819 over the last three months. Company insiders own 0.30% of the company's stock.

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.