Naviter Wealth LLC Lowers Position in Micron Technology, Inc. $MU

Naviter Wealth LLC lessened its stake in Micron Technology, Inc. (NASDAQ:MU) by 1.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,486 shares of the semiconductor manufacturer’s stock after selling 163 shares during the period. Naviter Wealth LLC’s holdings in Micron Technology were worth $1,169,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Opal Wealth Advisors LLC purchased a new stake in Micron Technology in the 1st quarter worth approximately $33,000. AllSquare Wealth Management LLC lifted its position in shares of Micron Technology by 100.0% during 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 in the last quarter. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of Micron Technology during the 1st quarter valued at approximately $36,000. Hilltop National Bank purchased a new position in shares of Micron Technology during the 2nd quarter valued at approximately $37,000. Finally, Saudi Central Bank purchased a new position in shares of Micron Technology during the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 21,563 shares of the firm’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $188.47, for a total value of $4,063,978.61. Following the completion of the sale, the chief executive officer directly owned 272,648 shares of the company’s stock, valued at $51,385,968.56. This trade represents a 7.33% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard M. Beyer sold 5,552 shares of the firm’s stock in a transaction on Thursday, September 25th. The stock was sold at an average price of $155.68, for a total value of $864,335.36. Following the completion of the sale, the director directly owned 96,031 shares of the company’s stock, valued at $14,950,106.08. This trade represents a 5.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 146,956 shares of company stock valued at $22,841,025 in the last three months. 0.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

MU has been the topic of a number of recent analyst reports. Raymond James Financial increased their target price on Micron Technology from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Wednesday, September 24th. KGI Securities upgraded Micron Technology from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 24th. Itau BBA Securities initiated coverage on Micron Technology in a research report on Tuesday, October 7th. They set an “outperform” rating and a $249.00 target price on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Micron Technology in a research report on Tuesday. Finally, Morgan Stanley raised Micron Technology from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $160.00 to $220.00 in a research note on Monday, October 6th. Five research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of “Buy” and an average target price of $194.57.

Micron Technology Stock Down 3.0%

NASDAQ MU opened at $187.06 on Wednesday. The business has a fifty day moving average price of $146.06 and a 200 day moving average price of $115.39. Micron Technology, Inc. has a one year low of $61.54 and a one year high of $201.00. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The company has a market cap of $209.97 billion, a P/E ratio of 24.65, a P/E/G ratio of 0.42 and a beta of 1.56.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 EPS for the quarter, meeting the consensus estimate of $2.86. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The firm had revenue of $11.32 billion during the quarter, compared to the consensus estimate of $11.05 billion. During the same period in the prior year, the company earned $1.18 EPS. The firm’s revenue was up 46.1% compared to the same quarter last year. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. 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 will be paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd will be paid a $0.115 dividend. The ex-dividend date of this dividend is Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is 6.06%.

Micron Technology 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.