PNC Financial Services Group Inc. Raises Stake in Micron Technology, Inc. $MU

PNC Financial Services Group Inc. grew its stake in Micron Technology, Inc. (NASDAQ:MU) by 10.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 484,626 shares of the semiconductor manufacturer’s stock after acquiring an additional 47,813 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Micron Technology were worth $59,730,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MU. Bouchey Financial Group Ltd increased its position in Micron Technology by 2.2% during the second quarter. Bouchey Financial Group Ltd now owns 7,126 shares of the semiconductor manufacturer’s stock worth $878,000 after purchasing an additional 153 shares during the last quarter. Apex Wealth Management LLC purchased a new stake in shares of Micron Technology in the 2nd quarter valued at approximately $250,000. Wealth Quarterback LLC acquired a new stake in shares of Micron Technology during the 2nd quarter worth approximately $248,000. IMA Advisory Services Inc. increased its holdings in shares of Micron Technology by 8.0% during the 2nd quarter. IMA Advisory Services Inc. now owns 24,168 shares of the semiconductor manufacturer’s stock worth $2,979,000 after buying an additional 1,799 shares during the last quarter. Finally, Tiemann Investment Advisors LLC purchased a new stake in shares of Micron Technology during the 2nd quarter valued at approximately $211,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Down 3.2%

Shares of NASDAQ:MU opened at $236.95 on Friday. The firm has a market capitalization of $265.97 billion, a PE ratio of 31.22, a price-to-earnings-growth 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 current ratio of 2.52 and a quick ratio of 1.79. The firm’s 50-day moving average is $191.24 and its two-hundred day moving average is $138.13.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 EPS for the quarter, beating the consensus estimate of $2.86 by $0.17. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $11.32 billion during the quarter, compared to analyst estimates of $11.05 billion. During the same quarter last year, the firm posted $1.18 earnings per share. The business’s revenue for the quarter 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. Analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MU. Zacks Research raised Micron Technology from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 19th. 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. Piper Sandler boosted their price objective on shares of Micron Technology from $165.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, September 24th. Weiss Ratings raised shares of Micron Technology from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Saturday, November 1st. Finally, Barclays lifted their price target on shares of Micron Technology from $195.00 to $240.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $209.39.

Insider Buying and Selling

In related news, EVP Scott J. Deboer sold 82,000 shares of the business’s stock in a transaction on Monday, October 27th. The stock was sold at an average price of $222.81, for a total transaction 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 $34,345,047.45. The trade was a 34.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sanjay Mehrotra sold 3,743 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $233.39, for a total value of $873,578.77. Following the sale, the chief executive officer owned 396,578 shares in the company, valued at approximately $92,557,339.42. This trade represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 409,756 shares of company stock worth $85,308,033 over the last ninety days. Insiders own 0.30% of the company’s stock.

Micron Technology Company 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.