Amundi Reduces Position in Micron Technology, Inc. $MU

Key Points

• Amundi cut its Micron position by 26.6%. The fund sold 1.59 million shares during the second quarter but still held 4.38 million shares worth approximately $5.06 billion, representing 1.2% of its portfolio.
• Institutional ownership remains substantial, at 80.84%. Several major investors, including Norges Bank, Primecap Management and Legal & General, initiated or increased positions during the reported periods.
• Analysts remain bullish, but valuation and execution risks are elevated. Micron exceeded quarterly earnings and revenue expectations, supported by AI-driven memory demand, while the consensus rating is “Buy”; however, the stock’s sharp rally, competition and potential memory-price moderation could weigh on future returns.

Amundi decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 26.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,380,730 shares of the semiconductor manufacturer's stock after selling 1,590,078 shares during the period. Micron Technology comprises approximately 1.2% of Amundi's portfolio, making the stock its 14th biggest holding. Amundi owned about 0.39% of Micron Technology worth $5,056,632,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System raised its holdings in Micron Technology by 115,924.6% during the 2nd quarter. California State Teachers Retirement System now owns 1,977,753,560 shares of the semiconductor manufacturer's stock valued at $2,282,901,157,000 after buying an additional 1,976,048,961 shares during the last quarter. Andar Capital Management HK Ltd grew its holdings in Micron Technology by 856,960.3% in the 2nd quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer's stock worth $39,571,847,000 after acquiring an additional 34,278,413 shares during the last quarter. Norges Bank bought a new stake in Micron Technology in the 4th quarter worth $6,433,456,000. Primecap Management Co. CA purchased a new position in shares of Micron Technology in the second quarter valued at about $22,182,263,000. Finally, Legal & General Group Plc purchased a new position in shares of Micron Technology in the second quarter valued at about $8,402,393,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology News Summary

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

• Positive Sentiment: AI demand and supply constraints remain major tailwinds. Oracle’s strong cloud-infrastructure growth reinforced expectations for continued data-center AI spending, while limited DRAM and high-bandwidth memory supply could support Micron’s pricing and margins. Micron Stock Rises as This Key Number From Oracle Boosts AI Trade
• Positive Sentiment: Long-term customer agreements may reduce earnings volatility. Micron’s strategic contracts reportedly cover substantial memory volumes through 2030, with pricing protections that improve revenue visibility and could make the company less exposed to the traditional boom-and-bust memory cycle. Micron Bets on Long-Term SCA Deals
• Positive Sentiment: Analysts remain constructive ahead of fiscal fourth-quarter results. Bullish commentary points to persistent shortages, rising HBM4 demand and potentially strong revenue and gross-margin guidance at the September 30 earnings report. Micron’s Q4 Might Change the Game
• Neutral Sentiment: Employee rewards highlight both strong profitability and rising costs. Taiwan-based direct labor employees are slated to receive fiscal 2026 rewards equivalent to 35–68 months of pay. The payouts recognize exceptional results but may increase expense pressure, while unions representing about 10,000 workers continue to threaten industrial action. Micron’s Taiwan Workers to Get Rewards Worth Up to 68 Months of Pay
• Negative Sentiment: Valuation and execution expectations are unusually high. Despite record guidance and worsening shortages, investors appear concerned that much of the AI-memory upside is already reflected in MU’s valuation. Any moderation in memory pricing or results that merely meet expectations could trigger profit-taking. Micron’s 662% Rally Created a Problem Wall Street Cannot Ignore
• Negative Sentiment: Competitive and macroeconomic risks are weighing on sentiment. Intel-backed startup Kepler Computing is targeting the memory-chip market, raising concerns about future pricing power. Separately, higher oil prices, inflation worries and interest-rate pressure have hurt high-beta technology stocks. Micron Stock Slips as Intel-Backed Start-up Takes Aim at Memory-Chip Market

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MU shares. Susquehanna increased their target price on shares of Micron Technology from $1,750.00 to $2,000.00 and gave the stock a "positive" rating in a report on Thursday, June 25th. Wedbush boosted their price target on Micron Technology from $1,300.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. ThinkEquity reaffirmed a "buy" rating on shares of Micron Technology in a research report on Monday, August 3rd. Mizuho lowered their price target on Micron Technology from $1,375.00 to $1,300.00 and set an "outperform" rating for the company in a research report on Tuesday, August 25th. Finally, Wells Fargo & Company increased their price objective on Micron Technology from $1,220.00 to $1,525.00 and gave the stock an "overweight" rating in a report on Thursday, June 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $1,295.63.

Micron Technology Stock Performance

Shares of MU opened at $975.26 on Monday. The firm's 50-day moving average price is $929.44 and its 200-day moving average price is $757.27. The firm has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 22.08, a PEG ratio of 0.62 and a beta of 2.22. The company has a current ratio of 3.42, a quick ratio of 2.98 and a debt-to-equity ratio of 0.05. Micron Technology, Inc. has a 1-year low of $153.21 and a 1-year high of $1,255.00.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its quarterly earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The company had revenue of $41.46 billion for the quarter, compared to analysts' expectations of $35.91 billion. During the same quarter in the previous year, the company earned $1.91 earnings per share. Micron Technology's quarterly revenue was up 345.8% on a year-over-year basis. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 72.93 EPS for the current year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 6th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, July 6th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology's dividend payout ratio is 1.36%.

Insider Activity

In related news, EVP Sumit Sadana sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the sale, the executive vice president directly owned 191,021 shares in the company, valued at $178,469,010.09. The trade was a 7.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the completion of the sale, the executive vice president directly owned 85,737 shares in the company, valued at approximately $92,933,763.78. The trade was a 31.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 177,204 shares of company stock worth $182,156,264. Company insiders own 0.24% of the company's stock.

Micron Technology Company Profile

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron's products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

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