Micron Technology, Inc. $MU Stock Acquired by Provenance Wealth Advisors LLC

Provenance Wealth Advisors LLC boosted its position in Micron Technology, Inc. (NASDAQ:MU) by 29,016.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 5,241 shares of the semiconductor manufacturer’s stock after acquiring an additional 5,223 shares during the period. Provenance Wealth Advisors LLC’s holdings in Micron Technology were worth $5,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Andar Capital Management HK Ltd boosted its holdings in shares of Micron Technology by 856,960.3% during the second quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer’s stock worth $39,571,847,000 after purchasing an additional 34,278,413 shares during the last quarter. Primecap Management Co. CA purchased a new stake in shares of Micron Technology in the second quarter valued at $22,182,263,000. Bank of America Corp DE grew its position in shares of Micron Technology by 26.6% in the second quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer’s stock valued at $11,744,621,000 after purchasing an additional 2,136,470 shares during the period. Legal & General Group Plc acquired a new position in Micron Technology in the second quarter valued at $8,402,393,000. Finally, Dimensional Fund Advisors LP increased its stake in Micron Technology by 1.3% in the first quarter. Dimensional Fund Advisors LP now owns 6,967,065 shares of the semiconductor manufacturer’s stock valued at $2,352,282,000 after purchasing an additional 86,488 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction dated Friday, August 21st. The stock was 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 owned 264,503 shares in the company, valued at approximately $256,276,956.70. The trade was a 13.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Scott Deboer sold 28,545 shares of the stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $900.00, for a total transaction of $25,690,500.00. Following the sale, the insider directly owned 147,430 shares of the company’s stock, valued at approximately $132,687,000. This trade represents a 16.22% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 83,545 shares of company stock valued at $78,460,850 in the last three months. Corporate insiders own 0.24% of the company’s stock.

Key Headlines 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

Analysts Set New Price Targets

Several equities analysts recently weighed in on MU shares. Mizuho increased their target price on Micron Technology from $1,300.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, October 1st. Raymond James Financial restated an “outperform” rating on shares of Micron Technology in a report on Thursday, October 1st. William Blair set a $1,300.00 price objective on shares of Micron Technology in a research note on Thursday, October 1st. CLSA reiterated an “outperform” rating and set a $1,700.00 price objective on shares of Micron Technology in a report on Friday, October 2nd. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Micron Technology in a report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,407.88.

Micron Technology Trading Up 2.6%

Shares of MU opened at $855.10 on Wednesday. The company has a current ratio of 3.31, a quick ratio of 2.94 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $967.48 billion, a P/E ratio of 11.52, a price-to-earnings-growth ratio of 0.14 and a beta of 2.36. The stock’s fifty day simple moving average is $974.91 and its 200 day simple moving average is $749.61. Micron Technology, Inc. has a twelve month low of $192.59 and a twelve month high of $1,255.00.

Micron Technology (NASDAQ:MU) last issued its earnings results 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. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The firm had revenue of $54.23 billion for the quarter, compared to analysts’ expectations of $51.33 billion. During the same quarter last year, the firm earned $3.03 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts forecast that Micron Technology, Inc. will post 177.03 earnings per share for the current year.

Micron Technology Announces Dividend

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

Micron Technology Profile

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.