Westbourne Investments Inc. Boosts Stock Holdings in Micron Technology, Inc. $MU

Key Points

• Westbourne Investments Inc. increased its stock position in Micron Technology by 555.9% in Q1, owning 17,590 shares valued at approximately $1.53 million.
• Micron Technology's stock rose 4.5% to $141.26, with a market cap of $158.09 billion and a price-to-earnings ratio of 25.41.
• The company declared a quarterly dividend of $0.115 per share, resulting in an annualized yield of 0.3%.

Westbourne Investments Inc. grew its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 555.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,590 shares of the semiconductor manufacturer's stock after acquiring an additional 14,908 shares during the period. Westbourne Investments Inc.'s holdings in Micron Technology were worth $1,528,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Sunbeam Capital Management LLC acquired a new stake in shares of Micron Technology in the 4th quarter valued at about $26,000. Opal Wealth Advisors LLC acquired a new stake in shares of Micron Technology in the 1st quarter valued at about $33,000. Roxbury Financial LLC grew its stake in shares of Micron Technology by 306.1% in the 1st quarter. Roxbury Financial LLC now owns 398 shares of the semiconductor manufacturer's stock valued at $37,000 after buying an additional 300 shares during the period. AllSquare Wealth Management LLC grew 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 buying an additional 200 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of Micron Technology in the 1st quarter valued at about $36,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Scott J. Deboer sold 20,000 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were sold at an average price of $125.11, for a total value of $2,502,200.00. Following the completion of the transaction, the executive vice president directly owned 166,353 shares in the company, valued at approximately $20,812,423.83. The trade was a 10.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of the company's stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $125.12, for a total transaction of $1,876,800.00. Following the completion of the transaction, the executive vice president owned 148,167 shares of the company's stock, valued at $18,538,655.04. This trade represents a 9.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 268,446 shares of company stock valued at $32,908,469 in the last three months. 0.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MU has been the subject of several research reports. UBS Group raised their target price on Micron Technology from $120.00 to $155.00 and gave the company a "buy" rating in a research note on Thursday, June 26th. Rosenblatt Securities restated a "buy" rating and issued a $200.00 target price on shares of Micron Technology in a research note on Monday, August 11th. Piper Sandler raised their price target on shares of Micron Technology from $120.00 to $165.00 and gave the company an "overweight" rating in a research report on Thursday, June 26th. Deutsche Bank Aktiengesellschaft started coverage on shares of Micron Technology in a research report on Thursday, July 10th. They issued a "buy" rating and a $150.00 price target on the stock. Finally, Wall Street Zen raised shares of Micron Technology from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 5th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell 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 $148.50.

Micron Technology Stock Performance

Shares of NASDAQ:MU traded up $10.57 during mid-day trading on Thursday, reaching $150.57. The company had a trading volume of 52,376,371 shares, compared to its average volume of 16,123,795. The company's 50-day moving average price is $119.23 and its 200-day moving average price is $102.77. 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, Inc. has a one year low of $61.54 and a one year high of $156.26. The firm has a market cap of $168.51 billion, a price-to-earnings ratio of 27.13 and a beta of 1.47.

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

Micron Technology Dividend Announcement

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

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.