Montecito Bank & Trust Makes New Investment in Micron Technology, Inc. $MU

Montecito Bank & Trust purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 5,447 shares of the semiconductor manufacturer’s stock, valued at approximately $911,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Orleans Capital Management Corp LA purchased a new position in shares of Micron Technology during the 2nd quarter valued at about $256,000. Cary Street Partners Financial LLC increased its holdings in Micron Technology by 25.0% in the 2nd quarter. Cary Street Partners Financial LLC now owns 26,132 shares of the semiconductor manufacturer’s stock worth $3,221,000 after acquiring an additional 5,233 shares in the last quarter. Wealthspire Advisors LLC raised its stake in Micron Technology by 27.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 14,754 shares of the semiconductor manufacturer’s stock worth $1,818,000 after acquiring an additional 3,208 shares during the period. KLP Kapitalforvaltning AS lifted its holdings in Micron Technology by 6.2% during the second quarter. KLP Kapitalforvaltning AS now owns 403,105 shares of the semiconductor manufacturer’s stock valued at $49,683,000 after purchasing an additional 23,600 shares in the last quarter. Finally, WealthBridge Capital Management LLC bought a new position in shares of Micron Technology in the second quarter worth approximately $210,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on MU shares. Weiss Ratings upgraded shares of Micron Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, November 1st. Needham & Company LLC raised their price target on Micron Technology from $200.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday. Cowen restated a “buy” rating on shares of Micron Technology in a research report on Thursday, December 11th. Morgan Stanley increased their target price on Micron Technology from $338.00 to $350.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, KGI Securities raised Micron Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Five analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Micron Technology has an average rating of “Buy” and a consensus target price of $282.61.

Micron Technology Price Performance

NASDAQ:MU opened at $248.55 on Friday. The business’s 50-day moving average is $226.67 and its 200 day moving average is $163.42. Micron Technology, Inc. has a 12 month low of $61.54 and a 12 month high of $264.75. The company has a market capitalization of $279.40 billion, a P/E ratio of 23.63, a P/E/G ratio of 0.33 and a beta of 1.54. 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) last released its quarterly earnings data on Wednesday, December 17th. The semiconductor manufacturer reported $4.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.77 by $1.01. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $12.62 billion. Micron Technology had a return on equity of 23.56% and a net margin of 28.15%.The company’s revenue was up 56.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.79 EPS. Micron Technology has set its Q2 2026 guidance at 8.220-8.620 EPS. On average, equities research analysts forecast that Micron Technology, Inc. will post 6.08 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 14th. Investors of record on Monday, December 29th will be paid a dividend of $0.115 per share. The ex-dividend date of this dividend is Monday, December 29th. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s dividend payout ratio is presently 6.06%.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, CFO Mark J. Murphy sold 126,000 shares of Micron Technology stock in a transaction on Thursday, October 30th. The shares were sold at an average price of $225.31, for a total value of $28,389,060.00. Following the completion of the transaction, the chief financial officer directly owned 219,693 shares of the company’s stock, valued at $49,499,029.83. This trade represents a 36.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Scott J. Deboer sold 82,000 shares of the company’s stock in a transaction dated Monday, October 27th. The shares were sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the sale, the executive vice president owned 154,145 shares in the company, valued at $34,345,047.45. This represents a 34.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 369,852 shares of company stock worth $79,364,303 over the last three months. 0.24% of the stock is owned by company insiders.

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.