Kentucky Retirement Systems Insurance Trust Fund Decreases Stake in Micron Technology, Inc. $MU

Kentucky Retirement Systems Insurance Trust Fund cut its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 6.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,989 shares of the semiconductor manufacturer’s stock after selling 2,079 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Micron Technology were worth $3,696,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of MU. Orleans Capital Management Corp LA purchased a new position in shares of Micron Technology during the second quarter valued at approximately $256,000. Cary Street Partners Financial LLC grew its position 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 purchasing an additional 5,233 shares during the period. Wealthspire Advisors LLC lifted its holdings in shares of Micron Technology by 27.8% during the 2nd quarter. Wealthspire Advisors LLC now owns 14,754 shares of the semiconductor manufacturer’s stock valued at $1,818,000 after buying an additional 3,208 shares during the period. KLP Kapitalforvaltning AS boosted its stake in shares of Micron Technology by 6.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 403,105 shares of the semiconductor manufacturer’s stock worth $49,683,000 after buying an additional 23,600 shares during the last quarter. Finally, WealthBridge Capital Management LLC bought a new stake in shares of Micron Technology in the second quarter worth $210,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Analyst Upgrades and Downgrades

MU has been the subject of a number of research reports. Cowen reiterated a “buy” rating on shares of Micron Technology in a research report on Thursday. KeyCorp upped their price target on shares of Micron Technology from $160.00 to $215.00 and gave the company an “overweight” rating in a research report on Wednesday, September 24th. Wall Street Zen upgraded shares of Micron Technology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, November 23rd. Piper Sandler raised their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the stock an “overweight” rating in a report on Wednesday, September 24th. Finally, HSBC assumed coverage on shares of Micron Technology in a report on Tuesday, December 9th. They set a “buy” rating and a $330.00 target price for the company. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $236.59.

Insiders Place Their Bets

In other news, CFO Mark J. Murphy sold 126,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $49,499,029.83. The trade was a 36.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Scott J. Deboer sold 82,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $34,345,047.45. This trade represents a 34.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 392,352 shares of company stock valued at $82,994,387 in the last ninety days. Insiders own 0.24% of the company’s stock.

Micron Technology Price Performance

NASDAQ MU opened at $241.14 on Friday. 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, Inc. has a 12 month low of $61.54 and a 12 month high of $264.75. The stock has a market cap of $271.07 billion, a price-to-earnings ratio of 31.77, a PEG ratio of 0.41 and a beta of 1.54. The company’s 50 day moving average is $223.10 and its two-hundred day moving average is $159.97.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.86 by $0.17. The firm had revenue of $11.32 billion during the quarter, compared to analysts’ expectations of $11.05 billion. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The company’s revenue for the quarter was up 46.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.18 earnings per share. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, research analysts anticipate that Micron Technology, Inc. will post 6.08 earnings per share for the current year.

Micron Technology Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Shareholders of record on Friday, October 3rd were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is currently 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.