WESPAC Advisors LLC Sells 2,721 Shares of Micron Technology, Inc. $MU

Key Points

• WESPAC Advisors LLC cut its Micron Technology stake by 82.4% in the third quarter, selling 2,721 shares and retaining 583 shares valued at approximately $621,000.
• Micron reported quarterly EPS of $33.42 and revenue of $54.23 billion, exceeding estimates, while revenue surged 379.1% year over year. Institutional investors and hedge funds own 80.84% of the company.
• Analyst sentiment remains bullish, with Micron holding a “Moderate Buy” consensus rating and an average price target of $1,407.88; however, company insiders have sold 83,545 shares worth approximately $78.5 million over the past 90 days.

WESPAC Advisors LLC trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 82.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 583 shares of the semiconductor manufacturer's stock after selling 2,721 shares during the period. WESPAC Advisors LLC's holdings in Micron Technology were worth $621,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MU. Bullseye Investment Management LLC acquired a new position in Micron Technology in the 2nd quarter valued at about $27,000. Aventus Investment Advisors Inc. purchased a new stake in Micron Technology during the 3rd quarter valued at approximately $30,000. Steph & Co. purchased a new stake in Micron Technology during the 3rd quarter valued at approximately $31,000. Montgomery Financial Services LLC purchased a new stake in Micron Technology during the 2nd quarter valued at approximately $38,000. Finally, JNBA Financial Advisors raised its stake in Micron Technology by 77.3% during the 2nd quarter. JNBA Financial Advisors now owns 39 shares of the semiconductor manufacturer's stock valued at $45,000 after acquiring an additional 17 shares during the last quarter. Institutional investors and hedge funds own 80.84% of the company's stock.

Key Stories Impacting Micron Technology

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

Analysts Set New Price Targets

MU has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on Micron Technology from $1,280.00 to $1,520.00 and gave the stock an "outperform" rating in a research report on Monday, September 28th. William Blair set a $1,300.00 target price on Micron Technology in a research note on Thursday, October 1st. Zacks Research raised Micron Technology from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 6th. The Goldman Sachs Group set a $1,250.00 price target on Micron Technology in a research note on Thursday, October 1st. Finally, Wedbush restated an "outperform" rating and set a $1,400.00 price target on shares of Micron Technology in a research note on Monday, September 28th. One analyst has rated the stock with a Strong Buy rating, forty-one have given a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, Micron Technology currently has an average rating of "Moderate Buy" and an average target price of $1,407.88.

Micron Technology Stock Up 2.8%

Shares of NASDAQ:MU opened at $928.76 on Wednesday. Micron Technology, Inc. has a fifty-two week low of $192.59 and a fifty-two week high of $1,255.00. The firm's 50-day simple moving average is $979.69 and its 200-day simple moving average is $735.60. The company has a market cap 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 quarterly earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $31.77 by $1.65. The firm had revenue of $54.23 billion for the quarter, compared to analysts' expectations of $51.33 billion. The company's revenue for the quarter was up 379.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, research analysts forecast that Micron Technology, Inc. will post 177.03 EPS for the current year.

Micron Technology Announces Dividend

The firm 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 $0.15 dividend. 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 currently 0.81%.

Insider Buying and Selling at Micron Technology

In other news, insider Scott Deboer sold 28,545 shares of the stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $900.00, for a total transaction of $25,690,500.00. Following the completion of the transaction, the insider directly owned 147,430 shares of the company's stock, valued at approximately $132,687,000. This represents a 16.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total value of $14,014,350.00. Following the completion of the sale, the executive vice president directly owned 191,021 shares of the company's stock, valued at $178,469,010.09. This represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 83,545 shares of company stock valued at $78,460,850. 0.24% of the stock is owned by corporate insiders.

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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