Exencial Wealth Advisors LLC has reduced its holdings in shares of Micron Technology, Inc. (NASDAQ: MU) by 52.5%, as disclosed in its latest 13F filing with the Securities and Exchange Commission. The firm now owns 50,576 shares of the semiconductor manufacturer after selling 55,870 shares during the second quarter. As of the most recent filing, Exencial’s stake in Micron Technology is valued at approximately $6,234,000.
Other institutional investors have also made adjustments to their positions in Micron Technology. Kera Capital Partners Inc. acquired a new position in the company valued at around $211,000 during the same period. Tcfg Wealth Management LLC purchased a stake worth approximately $208,000, while Krilogy Financial LLC increased its holdings by 21.5%, now owning 27,190 shares valued at $3,351,000 after acquiring an additional 4,812 shares. Quintet Private Bank Europe S.A. raised its stake by 12.1%, and Kercheville Advisors LLC increased its ownership by 52.1%.
Institutional investors collectively own 80.84% of Micron Technology’s stock, indicating strong institutional interest in the company.
Insider Transactions and Company Performance
In addition to institutional changes, insider trading activity at Micron Technology has been notable. Chief Accounting Officer Scott R. Allen sold 8,800 shares on October 20, 2023, at an average price of $210.02, generating a total of $1,848,176.00. Following this transaction, Allen holds 40,237 shares valued at approximately $8,450,574.74, reflecting a 17.95% decrease in his ownership.
Similarly, CEO Sanjay Mehrotra sold 21,563 shares on October 7, 2023, at an average price of $188.47, resulting in a total transaction value of $4,063,978.61. After the sale, Mehrotra owns 272,648 shares valued at about $51,385,968.56, marking a 7.33% decrease in his stake. In total, company insiders have sold 121,756 shares worth $20,972,321 in the past ninety days, with insiders holding just 0.30% of the company’s stock.
Recent Earnings and Market Outlook
Micron Technology recently reported its earnings results for the quarter ending September 23, 2023. The semiconductor manufacturer achieved earnings per share of $2.86, matching analysts’ expectations. The company generated revenue of $11.32 billion, surpassing the consensus estimate of $11.05 billion. Micron’s net margin stood at 22.84%, and it reported a return on equity of 17.21%. Year-over-year, revenue increased by 46.1%, compared to $1.18 earnings per share from the same quarter last year.
Looking ahead, Micron Technology has forecasted its Q1 2026 guidance at $3.600-3.900 earnings per share. Analysts estimate that the company will post 6.08 earnings per share for the current fiscal year.
In a related announcement, Micron declared a quarterly dividend, which was paid on October 21, 2023, to investors on record as of October 3, 2023. The dividend payment was $0.115, translating to an annualized dividend of $0.46 with a yield of 0.2%. The current payout ratio stands at 6.06%.
Analysts have recently issued updated price targets for Micron Technology. Weiss Ratings maintained a “hold (c+)” rating, while Summit Insights upgraded the stock to a “strong-buy” rating. KeyCorp raised its target price from $160.00 to $215.00 and assigned an “overweight” rating. Rosenblatt Securities increased its price target from $200.00 to $250.00, with five analysts rating the stock as a Strong Buy, twenty-five as a Buy, and five as a Hold. According to MarketBeat, the average rating for the stock is “Buy,” with a consensus target price of $200.64.
Micron Technology, headquartered in Boise, Idaho, designs, develops, manufactures, and sells memory and storage products globally. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. Micron offers advanced memory and storage technologies under the Micron and Crucial brands, catering to a diverse range of applications.
