Wesbanco Bank Inc. Acquires New Shares in Micron Technology, Inc. $MU

Key Points

• Wesbanco Bank Inc. has acquired a new stake in Micron Technology, purchasing 3,133 shares valued at approximately $386,000 in the second quarter.
• Major institutional investors have also increased their holdings in Micron, with Vanguard and Goldman Sachs notably boosting their positions significantly during the first quarter.
• Micron Technology's stock currently has an average rating of "Moderate Buy" with analysts setting a target price around $155.16, while its recent earnings report exceeded expectations with an EPS of $1.91.

Wesbanco Bank Inc. acquired a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,133 shares of the semiconductor manufacturer's stock, valued at approximately $386,000.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Micron Technology by 2.1% during the first quarter. Vanguard Group Inc. now owns 101,906,368 shares of the semiconductor manufacturer's stock worth $8,854,644,000 after buying an additional 2,049,163 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Micron Technology by 23.8% in the first quarter. Goldman Sachs Group Inc. now owns 10,616,488 shares of the semiconductor manufacturer's stock valued at $922,467,000 after buying an additional 2,038,641 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Micron Technology by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 6,938,848 shares of the semiconductor manufacturer's stock valued at $602,917,000 after buying an additional 58,285 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Micron Technology by 26.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,800,052 shares of the semiconductor manufacturer's stock worth $590,807,000 after purchasing an additional 1,416,174 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in Micron Technology by 0.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 4,366,631 shares of the semiconductor manufacturer's stock worth $379,417,000 after purchasing an additional 17,970 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Rosenblatt Securities reissued a "buy" rating and set a $200.00 price target on shares of Micron Technology in a report on Monday, August 11th. Wall Street Zen cut Micron Technology from a "strong-buy" rating to a "buy" rating in a report on Saturday. CLSA started coverage on Micron Technology in a report on Wednesday, August 27th. They issued an "outperform" rating and a $155.00 price objective for the company. Robert W. Baird lifted their price objective on Micron Technology from $163.00 to $200.00 and gave the company an "outperform" rating in a report on Friday, June 27th. Finally, Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $155.16.

Micron Technology Trading Up 0.3%

NASDAQ MU opened at $157.77 on Tuesday. The business's 50-day moving average price is $120.69 and its two-hundred day moving average price is $103.78. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $160.34. The firm has a market capitalization of $176.56 billion, a PE ratio of 28.43 and a beta of 1.47. The company has a current ratio of 2.75, a quick ratio of 1.89 and a debt-to-equity ratio of 0.30.

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

Micron Technology Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Manish H. Bhatia sold 80,000 shares of the business'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 transaction, the executive vice president directly owned 275,067 shares of the company's stock, valued at $33,877,251.72. The trade was a 22.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Mark J. Murphy sold 34,000 shares of the business'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 directly owned 264,036 shares in the company, valued at $28,864,415.52. This represents a 11.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 268,446 shares of company stock worth $33,055,075 over the last three months. Insiders own 0.30% of the company's stock.

About Micron Technology

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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