Cherokee Insurance Co Makes New Investment in Micron Technology, Inc. $MU

Cherokee Insurance Co acquired a new stake in Micron Technology, Inc. (NASDAQ:MU) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 3,600 shares of the semiconductor manufacturer’s stock, valued at approximately $444,000.

A number of other institutional investors have also modified their holdings of MU. Achmea Investment Management B.V. purchased a new position in shares of Micron Technology in the 2nd quarter valued at approximately $3,759,000. Cornerstone Investment Partners LLC lifted its holdings in shares of Micron Technology by 1.6% during the second quarter. Cornerstone Investment Partners LLC now owns 773,768 shares of the semiconductor manufacturer’s stock worth $95,367,000 after purchasing an additional 12,061 shares during the period. KLP Kapitalforvaltning AS grew its position in Micron Technology by 6.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 403,105 shares of the semiconductor manufacturer’s stock valued at $49,683,000 after buying an additional 23,600 shares during the last quarter. Moors & Cabot Inc. increased its stake in Micron Technology by 6.4% in the 2nd quarter. Moors & Cabot Inc. now owns 23,111 shares of the semiconductor manufacturer’s stock valued at $2,848,000 after buying an additional 1,386 shares during the period. Finally, Tcfg Wealth Management LLC acquired a new position in Micron Technology in the 2nd quarter valued at $208,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Scott J. Deboer sold 82,000 shares of the company’s 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 sale, the executive vice president owned 154,145 shares of the company’s stock, valued at approximately $34,345,047.45. This represents a 34.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mark J. Murphy sold 126,000 shares of the firm’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $225.31, for a total value of $28,389,060.00. Following the transaction, the chief financial officer directly owned 219,693 shares of the company’s stock, valued at $49,499,029.83. The trade was a 36.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 409,756 shares of company stock valued at $85,308,033. 0.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on MU shares. The Goldman Sachs Group lifted their target price on shares of Micron Technology from $145.00 to $180.00 and gave the company a “neutral” rating in a report on Thursday, October 9th. Mizuho lifted their price objective on Micron Technology from $240.00 to $265.00 and gave the company an “outperform” rating in a report on Tuesday, October 28th. Barclays boosted their target price on Micron Technology from $195.00 to $240.00 and gave the stock an “overweight” rating in a research report on Monday, October 20th. JPMorgan Chase & Co. raised their price target on Micron Technology from $185.00 to $220.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Finally, Wall Street Zen upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, October 12th. Five research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $205.64.

Micron Technology Stock Performance

Shares of MU stock opened at $244.90 on Thursday. The stock has a fifty day moving average price of $188.99 and a 200 day moving average price of $137.44. The stock has a market cap of $274.89 billion, a PE ratio of 32.27, a P/E/G ratio of 0.51 and a beta of 1.62. Micron Technology, Inc. has a 1 year low of $61.54 and a 1 year high of $257.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $2.86 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.86. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The business had revenue of $11.32 billion during the quarter, compared to analysts’ expectations of $11.05 billion. During the same quarter last year, the business posted $1.18 earnings per share. The business’s revenue for the quarter was up 46.1% on a year-over-year basis. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. Sell-side 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 disclosed a quarterly dividend, which was paid on Tuesday, October 21st. Stockholders of record on Friday, October 3rd were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Friday, October 3rd. 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.