Micron Technology, Inc. $MU Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU) by 0.2% during the 4th quarter, HoldingsChannel.com reports. The fund owned 25,997,769 shares of the semiconductor manufacturer’s stock after selling 40,550 shares during the quarter. Micron Technology accounts for 0.5% of Geode Capital Management LLC’s portfolio, making the stock its 28th largest position. Geode Capital Management LLC’s holdings in Micron Technology were worth $7,393,909,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in MU. AQR Capital Management LLC lifted its holdings in Micron Technology by 411.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock worth $606,873,000 after buying an additional 2,918,535 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after buying an additional 1,954,644 shares during the last quarter. California Public Employees Retirement System grew its position in shares of Micron Technology by 70.2% in the 3rd quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer’s stock valued at $505,942,000 after buying an additional 1,246,773 shares during the last quarter. Voloridge Investment Management LLC grew its position in shares of Micron Technology by 1,064.3% in the 3rd quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer’s stock valued at $218,264,000 after buying an additional 1,192,433 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock valued at $1,196,427,000 after buying an additional 1,188,296 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on MU shares. JPMorgan Chase & Co. raised their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Mizuho set a $1,150.00 price objective on shares of Micron Technology in a research note on Wednesday. Phillip Securities upgraded shares of Micron Technology to a “strong-buy” rating in a research note on Monday, February 2nd. Rosenblatt Securities restated a “buy” rating and set a $500.00 target price on shares of Micron Technology in a research report on Monday, March 16th. Finally, Barclays lifted their target price on shares of Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a research report on Thursday, March 19th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and an average price target of $566.47.

Trending Headlines about Micron Technology

Here are the key news stories impacting Micron Technology this week:

• Positive Sentiment: UBS and Barclays raised their Micron price targets, with UBS setting a Street-high target of $1,625, fueling fresh buying. Benzinga report on UBS price target hike
• Positive Sentiment: Investors are betting that AI-driven shortages in DRAM and HBM memory will keep pricing power strong, supporting Micron’s earnings and margins. Reuters article on Micron joining the $1 trillion club
• Positive Sentiment: Micron’s latest earnings and guidance were extremely strong, with revenue up sharply year over year and management pointing to even higher fiscal Q3 revenue and margins. Seeking Alpha article on Micron’s AI bottleneck trade
• Positive Sentiment: The company announced its fiscal third-quarter earnings report will be released on June 24, keeping attention on another potential catalyst. Micron earnings date announcement
• Neutral Sentiment: Micron has crossed the $1 trillion market-cap milestone, a major headline that underscores the scale of the rally but also raises valuation questions. Forbes article on Micron passing $1 trillion
• Neutral Sentiment: Broader tech and chip stocks are also benefiting from the AI trade, helping support Micron’s move even as the wider market remains mixed. MarketWatch article on memory-chip rally
• Negative Sentiment: Some commentators warn the stock may be getting extended after its huge run, arguing that Micron is now priced for perfection and could be vulnerable if sentiment cools. 24/7 Wall St. cautionary article

Micron Technology Price Performance

Micron Technology stock opened at $928.41 on Thursday. The company has a market cap of $1.05 trillion, a price-to-earnings ratio of 43.83 and a beta of 1.91. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology, Inc. has a 1 year low of $92.22 and a 1 year high of $956.16. The firm has a 50 day moving average price of $538.07 and a 200 day moving average price of $402.54.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. The firm had revenue of $23.86 billion for the quarter, compared to analysts’ expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. Micron Technology’s revenue was up 196 compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 earnings per share. Sell-side analysts predict that Micron Technology, Inc. will post 57.82 earnings per share for the current year.

Micron Technology Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology’s dividend payout ratio is presently 2.83%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction on Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 106,000 shares of company stock valued at $47,032,460. 0.24% of the stock is currently owned by corporate insiders.

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs and manufactures memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, solid-state drives (SSDs), memory modules and embedded memory solutions for a wide range of computing and electronic devices. Micron supplies components used in data centers, enterprise and cloud infrastructure, client computing, mobile devices, automotive systems and industrial applications, and also markets consumer-facing products under the Crucial brand.

Founded in 1978 and headquartered in Boise, Idaho, Micron has grown into an international manufacturer with research, development and production facilities across multiple regions.