First Citizens Bank & Trust 13F: Adds $11M to MU Stake

First Citizens Bank & Trust has increased its investment in Micron Technology, Inc. (NasdaqGS: MU) by adding 9,894 shares. This brings its total holdings to 42,923 shares, valued at about $45.7 million as of the recent filing with the SEC. This move represents a 29.96% increase in its stake.

What Changed in First Citizens Bank & Trust's Micron Technology Position

First Citizens Bank & Trust boosted its stake in Micron Technology by 9,894 shares during the reporting period, growing its holdings from 33,029 to 42,923 shares. The current value of these shares is approximately $45.7 million.

Micron Technology, Inc. Stock Down 2.4%

Shares of NasdaqGS:MU have been trading robustly, with a market capitalization of around $1.05 trillion. The company has a P/E ratio of 12.53 and a forward P/E of 4.55, indicating potential future earnings growth. Micron's beta is 2.226, suggesting it is more volatile than the market. The stock's 52-week range is between $192.40 and $1,255, with a 50-day moving average of $983.17 and a 200-day moving average of $714.91. Micron's financial health appears strong, with a current ratio of 3.31 and a quick ratio of 2.90.

Recent Earnings

Micron Technology reported revenues of $133.19 billion, reflecting a growth rate of 3.79%. The company's net margin stands at 63.8%, with a return on equity of 88.26%. Its next earnings report is scheduled for December 23, 2026.

Dividend

Micron offers a dividend yield of 0.06%, with a very low payout ratio of 0.71%. This suggests that the company retains most of its earnings to reinvest in growth. The ex-dividend date was not specified.

About Micron Technology

Micron Technology, Inc. is a leading provider of semiconductor memory and storage solutions, operating across several business units including Cloud Memory and Core Data Center. Headquartered in Boise, Idaho, and led by CEO Sanjay Mehrotra, Micron employs approximately 61,000 people worldwide. The company produces a wide range of products such as DRAM, NAND, and NOR memory, serving diverse markets including computing, mobile, automotive, and industrial segments.

Bottom Line

First Citizens Bank & Trust's decision to increase its stake in Micron Technology by nearly 30% is a notable endorsement of the semiconductor giant's prospects. Investors often track such filings to gauge institutional confidence. However, it's important to remember that 13F filings are historical and may not reflect current positions.