Astoria Portfolio Advisors LLC. Trims Stock Position in Micron Technology, Inc. $MU

Key Points

• Astoria Portfolio Advisors reduced its Micron Technology stake by 14.7% in the fourth quarter, selling 884 shares and leaving it with 5,138 shares worth about $1.47 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 80.84% of Micron’s stock, while several smaller funds also increased or initiated positions during the quarter.
• Wall Street sentiment is broadly bullish on Micron thanks to AI-driven demand and improving memory pricing, with multiple analysts raising price targets ahead of the company’s June 24 earnings report.

Astoria Portfolio Advisors LLC. lessened its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 14.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,138 shares of the semiconductor manufacturer's stock after selling 884 shares during the quarter. Astoria Portfolio Advisors LLC.'s holdings in Micron Technology were worth $1,466,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. High Note Wealth LLC raised its holdings in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC lifted its position in shares of Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after buying an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of Micron Technology by 4,800.0% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 96 shares in the last quarter. Joseph Group Capital Management acquired a new stake in Micron Technology in the 4th quarter valued at $31,000. Finally, Luken Investment Analytics LLC acquired a new stake in Micron Technology in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

More Micron Technology News

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

• Positive Sentiment: Wedbush raised its price target on Micron and reiterated an outperform view, citing strong AI-related demand and improved memory pricing. Micron Technology rises as Wedbush and Stifel raise price targets on AI-driven demand
• Positive Sentiment: Stifel also boosted its target to $1,500, adding to a wave of bullish analyst revisions that suggest further upside if Micron delivers on June 24 earnings. Stifel's $1,500 Target Bets Micron Has Further to Run
• Positive Sentiment: Deutsche Bank, RBC, and other firms raised targets sharply, signaling growing confidence that AI memory demand and pricing power can support a stronger-than-expected quarter. Micron stock draws aggressive target reset from 5-star analyst
• Positive Sentiment: Investor optimism is also being fueled by reports tying Micron to AI buildout themes, including Apple’s warning that iPhone price hikes may be unavoidable and commentary that Micron has “more room to run” as chip costs rise. Apple Price Hike Warning Sends Micron Stock Soaring
• Neutral Sentiment: Several articles note Micron is trading near record levels and may be overvalued by some valuation models, which could make the stock more sensitive to any earnings disappointment. Micron Technology Inc (MU) Stock Up 8.7% but GF Value Says Overvalued -- GF Score: 79/100
• Neutral Sentiment: Micron’s upcoming June 24 earnings report is the key near-term catalyst, with investors watching whether management confirms the bullish AI demand narrative. The Week Ahead: Micron Earnings Take Center Stage

Micron Technology Stock Performance

NASDAQ:MU opened at $1,133.99 on Friday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The company's 50-day moving average price is $733.54 and its 200-day moving average price is $488.89. The company has a market cap of $1.28 trillion, a P/E ratio of 53.54 and a beta of 2.16. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,149.43.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company had revenue of $23.86 billion during the quarter, compared to analysts' expectations of $19.97 billion. During the same period in the prior year, the business earned $1.56 EPS. The firm's quarterly revenue was up 196 on a year-over-year basis. On average, sell-side analysts forecast that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on MU. Sanford C. Bernstein boosted their price target on shares of Micron Technology from $330.00 to $510.00 and gave the stock an "outperform" rating in a report on Wednesday, March 18th. Susquehanna increased their price objective on shares of Micron Technology from $600.00 to $1,750.00 and gave the company a "positive" rating in a report on Friday, May 29th. DA Davidson started coverage on shares of Micron Technology in a research report on Monday, May 11th. They issued a "buy" rating and a $1,000.00 target price on the stock. Weiss Ratings reissued a "buy (b)" rating on shares of Micron Technology in a research note on Tuesday, May 12th. Finally, JPMorgan Chase & Co. upped their price target 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. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of "Buy" and a consensus target price of $913.47.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction that occurred 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 sale, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 146,000 shares of company stock valued at $85,486,715 over the last three months. 0.24% of the stock is currently owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.