Micron Technology, Inc. $MU Shares Sold by Migdal Insurance & Financial Holdings Ltd.

Migdal Insurance & Financial Holdings Ltd. reduced its position in Micron Technology, Inc. (NASDAQ:MU) by 22.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 196,156 shares of the semiconductor manufacturer’s stock after selling 56,950 shares during the period. Micron Technology accounts for about 1.3% of Migdal Insurance & Financial Holdings Ltd.’s holdings, making the stock its 22nd largest holding. Migdal Insurance & Financial Holdings Ltd.’s holdings in Micron Technology were worth $208,926,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Gibbs Wealth Management boosted its position 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 during the period. Denali Advisors LLC purchased a new position in Micron Technology in the second quarter valued at about $7,364,000. Castleark Management LLC purchased a new position in Micron Technology in the first quarter valued at about $3,709,000. Oppenheimer & Co. Inc. raised its position in Micron Technology by 16.0% in the second 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 period. Finally, Legacy Wealth Management LLC MS lifted its stake in shares of Micron Technology by 73.3% during the second quarter. Legacy Wealth Management LLC MS now owns 3,544 shares of the semiconductor manufacturer’s stock worth $4,091,000 after purchasing an additional 1,499 shares in the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

MU traded down $20.13 during trading hours on Friday, hitting $778.31. 27,749,501 shares of the stock were exchanged, compared to its average volume of 30,791,856. The stock has a 50-day simple moving average of $943.73 and a 200-day simple moving average of $764.29. Micron Technology, Inc. has a 12 month low of $192.59 and a 12 month high of $1,255.00. The stock has a market cap of $880.60 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 0.14 and a beta of 2.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.31 and a quick ratio of 2.94.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, beating analysts’ consensus estimates of $31.77 by $1.65. The business had revenue of $54.23 billion during the quarter, compared to the consensus estimate of $51.33 billion. Micron Technology had a net margin of 63.80% and a return on equity of 92.62%. The company’s revenue for the quarter was up 379.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.03 EPS. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Analysts anticipate that Micron Technology, Inc. will post 174.19 earnings per share for the current year.

Micron Technology Announces Dividend

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

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $968.90, for a total value 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Scott J. Deboer sold 28,545 shares of the firm’s stock in a transaction dated Friday, October 16th. The shares were sold at an average price of $900.00, for a total value of $25,690,500.00. Following the transaction, the insider directly owned 147,430 shares of the company’s stock, valued at $132,687,000. This represents a 16.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 83,545 shares of company stock worth $78,460,850. 0.24% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Wells Fargo & Company lowered their target price on Micron Technology from $1,525.00 to $1,400.00 and set an “overweight” rating for the company in a research note on Wednesday, September 23rd. Needham & Company LLC reiterated a “buy” rating and set a $1,650.00 target price on shares of Micron Technology in a report on Thursday, October 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $2,000.00 price target on shares of Micron Technology in a research report on Thursday, October 1st. William Blair set a $1,300.00 price target on Micron Technology in a report on Thursday, October 1st. Finally, The Goldman Sachs Group set a $1,250.00 price objective 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 have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Moderate Buy” and an average price target of $1,435.58.

More Micron Technology News

These are some of the MU news items that stood out recently:

• Positive Sentiment: Micron’s record results and strong outlook support the growth case: coverage cited roughly $61.5 billion in quarterly revenue guidance, while its latest reported quarterly sales rose about 380% year over year. AI-related demand and tight supply of high-bandwidth memory are key potential tailwinds. Micron Is Down 20% in a Month
• Positive Sentiment: ETF buying provided a modest demand signal, with 59 funds adding Micron shares and 14 selling on Wednesday, for reported net purchases of $137.7 million. ETFs Bought $137.7 Million of Micron
• Negative Sentiment: Broad chip-sector selling is the main near-term headwind. Reports of Nvidia CEO Jensen Huang’s departure have unsettled investors and raised concerns about the AI trade’s durability, weighing on memory stocks including Micron despite its favorable outlook. Why Are Micron, SK Hynix, and SanDisk Stocks Falling?

About Micron Technology

Micron Technology is a semiconductor company that designs and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, and other memory solutions used in computing and electronic devices. Micron’s products serve a range of markets, including data centers, personal computers, smartphones, automotive systems, and industrial applications. The company sells its products and solutions to customers around the world.