Pinnacle Associates Ltd. Boosts Stake in Micron Technology, Inc. $MU

Pinnacle Associates Ltd. increased its position in Micron Technology, Inc. (NASDAQ:MU) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 385,505 shares of the semiconductor manufacturer’s stock after buying an additional 2,993 shares during the period. Micron Technology accounts for about 0.7% of Pinnacle Associates Ltd.’s investment portfolio, making the stock its 28th biggest position. Pinnacle Associates Ltd.’s holdings in Micron Technology were worth $47,513,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Kera Capital Partners Inc. bought a new stake in Micron Technology during the second quarter worth approximately $211,000. Tcfg Wealth Management LLC bought a new stake in Micron Technology during the second quarter worth approximately $208,000. Krilogy Financial LLC increased its stake in Micron Technology by 21.5% during the second quarter. Krilogy Financial LLC now owns 27,190 shares of the semiconductor manufacturer’s stock worth $3,351,000 after acquiring an additional 4,812 shares during the last quarter. Quintet Private Bank Europe S.A. increased its stake in Micron Technology by 12.1% during the second quarter. Quintet Private Bank Europe S.A. now owns 17,325 shares of the semiconductor manufacturer’s stock worth $2,135,000 after acquiring an additional 1,875 shares during the last quarter. Finally, Kercheville Advisors LLC increased its stake in Micron Technology by 52.1% during the second quarter. Kercheville Advisors LLC now owns 17,301 shares of the semiconductor manufacturer’s stock worth $2,132,000 after acquiring an additional 5,926 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Micron Technology Stock Down 1.2%

Shares of NASDAQ:MU opened at $224.01 on Friday. Micron Technology, Inc. has a 52-week low of $61.54 and a 52-week high of $232.40. The stock has a market cap of $251.44 billion, a P/E ratio of 29.51, a price-to-earnings-growth ratio of 0.51 and a beta of 1.56. The business’s 50 day moving average is $167.71 and its 200 day moving average is $126.67. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.86. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The company had revenue of $11.32 billion for the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter in the prior year, the firm earned $1.18 earnings per share. Micron Technology’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. Sell-side analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Friday, October 3rd were paid a $0.115 dividend. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.46 annualized dividend and a yield of 0.2%. Micron Technology’s dividend payout ratio is 6.06%.

Analysts Set New Price Targets

Several brokerages have weighed in on MU. Itau BBA Securities began coverage on Micron Technology in a research note on Tuesday, October 7th. They set an “outperform” rating and a $249.00 price objective on the stock. Wolfe Research increased their price target on Micron Technology from $160.00 to $180.00 and gave the stock an “outperform” rating in a report on Wednesday, September 17th. Needham & Company LLC increased their price target on Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, September 24th. Stifel Nicolaus increased their price target on Micron Technology from $173.00 to $195.00 and gave the stock a “buy” rating in a report on Monday, September 22nd. Finally, Bank of America increased their price target on Micron Technology from $140.00 to $180.00 and gave the stock a “neutral” rating in a report on Wednesday, September 24th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $202.79.

Insider Transactions at Micron Technology

In related news, CAO Scott R. Allen sold 8,800 shares of the stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $210.02, for a total value of $1,848,176.00. Following the transaction, the chief accounting officer owned 40,237 shares of the company’s stock, valued at $8,450,574.74. This represents a 17.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Scott J. Deboer sold 82,000 shares of the stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $222.81, for a total value of $18,270,420.00. Following the completion of the transaction, the executive vice president directly owned 154,145 shares in the company, valued at approximately $34,345,047.45. This trade represents a 34.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 248,756 shares of company stock worth $48,801,245 in the last ninety days. 0.30% of the stock is owned by company insiders.

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.