Garner Asset Management Corp Sells 1,409 Shares of Micron Technology, Inc. $MU

Garner Asset Management Corp cut its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 37.7% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,325 shares of the semiconductor manufacturer’s stock after selling 1,409 shares during the quarter. Garner Asset Management Corp’s holdings in Micron Technology were worth $2,476,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Gibbs Wealth Management increased its stake in Micron Technology by 52.7% during the 3rd quarter. Gibbs Wealth Management now owns 6,041 shares of the semiconductor manufacturer’s stock worth $6,435,000 after purchasing an additional 2,085 shares in the last quarter. Denali Advisors LLC bought a new position in Micron Technology in the second quarter valued at approximately $7,364,000. Castleark Management LLC acquired a new position in Micron Technology during the first quarter worth $3,709,000. Oppenheimer & Co. Inc. lifted its stake in Micron Technology by 16.0% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 48,520 shares of the semiconductor manufacturer’s stock valued at $56,006,000 after purchasing an additional 6,702 shares during the last quarter. Finally, Legacy Wealth Management LLC MS boosted its stake in shares of Micron Technology by 73.3% during the 2nd quarter. Legacy Wealth Management LLC MS now owns 3,544 shares of the semiconductor manufacturer’s stock worth $4,091,000 after acquiring an additional 1,499 shares during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Up 2.6%

Shares of Micron Technology stock opened at $855.10 on Wednesday. Micron Technology, Inc. has a 1 year low of $192.59 and a 1 year high of $1,255.00. The stock has a fifty day moving average price of $974.91 and a 200-day moving average price of $749.61. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.31 and a quick ratio of 2.94. The firm has a market cap of $967.48 billion, a PE ratio of 11.52, a P/E/G ratio of 0.14 and a beta of 2.36.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, topping the consensus estimate of $31.77 by $1.65. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The company had revenue of $54.23 billion during the quarter, compared to the consensus estimate of $51.33 billion. During the same quarter in the prior year, the company earned $3.03 EPS. The firm’s quarterly revenue was up 379.1% compared to the same quarter last year. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 177.03 EPS for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Investors of record on Wednesday, October 14th were given a $0.15 dividend. The ex-dividend date was Wednesday, October 14th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology’s payout ratio is 0.81%.

Insider Transactions at Micron Technology

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the completion of the sale, the chief executive officer directly owned 264,503 shares in the company, valued at $256,276,956.70. This represents a 13.14% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total value of $14,014,350.00. Following the transaction, the executive vice president directly owned 191,021 shares of the company’s stock, valued at $178,469,010.09. The trade was a 7.28% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 83,545 shares of company stock worth $78,460,850. 0.24% of the stock is currently owned by corporate insiders.

Key Stories Impacting Micron Technology

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: Memory stocks recovered as investors rotated back into semiconductor shares, with easing oil prices also helping risk appetite. Why are Micron, SK Hynix, and SanDisk stocks rising on Tuesday?
• Positive Sentiment: AI’s growing need for memory could support Micron’s opportunity: the article highlights memory’s importance to AI performance and the company’s potential to compete on value. Micron Said “Super Intelligence” Creates the Most Compelling Opportunity in Its History
• Positive Sentiment: Micron could step up share repurchases starting in December after Chips Act restrictions expire, potentially adding support for shareholder returns and demand for the stock. Micron Expected to Launch Massive Stock Buybacks in December
• Neutral Sentiment: Some analysts see substantial upside after the pullback, though the coverage cautions that memory-stock rallies have been difficult to sustain. Micron Stock Is in a Slump but Analysts Say It Can Soar 100%
• Negative Sentiment: Investor Dan Niles warned that Chinese memory maker CXMT is targeting a 20% share by 2028, raising the prospect of increased competition for Micron. Micron’s Real Risk: China’s CXMT Targets “20% by 2028,” Warns Dan Niles
• Negative Sentiment: Recent concerns about the memory cycle remain: a cautious outlook from Kioxia weighed on Micron and other memory shares in the prior session, while one commentator argued AI-chip stocks may not have fallen enough. Micron Falls as Kioxia’s Cautious Outlook Hits Memory Stocks

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. DA Davidson boosted their price target on Micron Technology from $2,100.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Citigroup lifted their target price on Micron Technology from $1,150.00 to $1,300.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. Itau BBA Securities upped their price target on shares of Micron Technology from $1,243.78 to $1,697.09 and gave the stock an “outperform” rating in a report on Wednesday, July 22nd. TD Cowen reissued a “buy” rating and set a $1,600.00 target price on shares of Micron Technology in a report on Thursday, October 1st. Finally, BMO Capital Markets restated an “outperform” rating on shares of Micron Technology in a research report on Thursday, October 1st. One analyst has rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $1,407.88.

About Micron Technology

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.