Exencial Wealth Advisors LLC has significantly reduced its stake in Micron Technology, Inc., cutting its holdings by 52.5% in the second quarter of this year. According to the firm’s latest 13F filing with the Securities and Exchange Commission, Exencial now owns 50,576 shares of the semiconductor manufacturer after selling 55,870 shares during the quarter. The current value of Exencial’s investment in Micron stands at approximately $6.23 million.
In addition to Exencial’s adjustments, other institutional investors and hedge funds have also modified their positions in Micron. For instance, Kera Capital Partners Inc. took a new position valued at around $211,000, while Tcfg Wealth Management LLC purchased a stake worth approximately $208,000. Krilogy Financial LLC increased its stake by 21.5%, now owning 27,190 shares valued at about $3.35 million. Similarly, Quintet Private Bank Europe S.A. raised its stake in Micron by 12.1%, bringing its total to 17,325 shares worth $2.14 million. Kercheville Advisors LLC also increased its position by 52.1%, now holding 17,301 shares valued at $2.13 million. Overall, institutional investors control approximately 80.84% of Micron’s stock.
Insider Transactions and Stock Performance
Recent insider activity at Micron Technology has drawn attention as well. On October 20, 2023, Chief Accounting Officer Scott R. Allen sold 8,800 shares at an average price of $210.02, totaling approximately $1.85 million. Following this transaction, Allen owns 40,237 shares valued at around $8.45 million, reflecting a 17.95% decrease in his ownership.
Additionally, CEO Sanjay Mehrotra sold 21,563 shares on October 7, 2023, at an average price of $188.47, amounting to approximately $4.06 million. After this sale, Mehrotra holds 272,648 shares valued at about $51.39 million, representing a 7.33% decline in his position. Over the past ninety days, company insiders have sold a total of 121,756 shares, valued at approximately $20.97 million. Insiders own 0.30% of the company’s stock.
Micron Technology’s stock recently experienced a drop of 2.2%. The company reported its earnings results on September 23, 2023, revealing earnings per share of $2.86, which met analyst expectations. The company’s revenue for the quarter reached $11.32 billion, exceeding the consensus estimate of $11.05 billion. Micron’s net margin was reported at 22.84%, with a return on equity of 17.21%, marking a 46.1% increase compared to the same quarter last year.
Future Guidance and Analyst Ratings
Looking ahead, Micron Technology has set its guidance for the first quarter of 2026 at earnings per share between $3.60 and $3.90. Analysts project the company will report an earnings per share of $6.08 for the current fiscal year.
The company has also declared a quarterly dividend, which was paid on October 21, 2023. Investors on record as of October 3, 2023 received a dividend of $0.115, which represents an annualized dividend of $0.46 with a yield of 0.2%. Micron’s payout ratio currently stands at 6.06%.
Numerous research firms have recently commented on Micron’s stock. Weiss Ratings maintained a “hold (C+)” rating on October 14, 2023, while Summit Insights upgraded the stock to a “strong-buy” rating. CLSA initiated coverage with an “outperform” rating and a target price of $155.00. KeyCorp raised its target from $160.00 to $215.00, while Rosenblatt Securities increased its target from $200.00 to $250.00. Overall, five analysts rate the stock as a Strong Buy, twenty-five as Buy, and five as Hold, with an average rating of “Buy” and a consensus target price of $200.64.
Micron Technology, Inc. designs, manufactures, and sells memory and storage products globally. The company operates through four segments: Compute and Networking, Mobile, Embedded, and Storage Business Units. Its product range includes dynamic random access memory devices and non-volatile storage solutions under the Micron and Crucial brands.
