BLKBRD Asset Management LP Has $608,000 Position in Micron Technology, Inc. $MU

Key Points

• BLKBRD Asset Management cut its Micron Technology stake by 97.5% in the fourth quarter, leaving it with 2,132 shares valued at about $608,000.
• Micron reported better-than-expected quarterly results, including EPS of $12.20 versus $9.19 expected and revenue of $23.86 billion, while analysts now see strong full-year earnings ahead.
• Wall Street remains bullish on Micron, with several firms raising price targets and the consensus rating staying at Buy, though some recent notes warn the stock may be getting overbought after its big run-up.

BLKBRD Asset Management LP lowered its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 97.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,132 shares of the semiconductor manufacturer's stock after selling 83,957 shares during the quarter. Micron Technology comprises about 0.8% of BLKBRD Asset Management LP's investment portfolio, making the stock its 22nd largest position. BLKBRD Asset Management LP's holdings in Micron Technology were worth $608,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. High Note Wealth LLC boosted its stake in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC raised its position in shares of Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock worth $27,000 after acquiring an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. raised its position in shares of Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. raised its position in shares of Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock worth $31,000 after acquiring an additional 52 shares during the last quarter. Finally, Joseph Group Capital Management bought a new stake in shares of Micron Technology during the fourth quarter worth $31,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, the executive vice president directly owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the firm's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the transaction, the chief executive officer owned 424,503 shares in the company, valued at $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 146,000 shares of company stock valued at $85,486,715 over the last 90 days. Company insiders own 0.24% of the company's stock.

Micron Technology Stock Down 6.2%

NASDAQ:MU opened at $1,020.76 on Wednesday. Micron Technology, Inc. has a 12-month low of $103.38 and a 12-month high of $1,110.40. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 48.19 and a beta of 2.16. The stock's fifty day simple moving average is $705.11 and its 200-day simple moving average is $476.85.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping 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 business had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same period last year, the company earned $1.56 EPS. The firm's revenue was up 196 on a year-over-year basis. Equities research analysts expect that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

Wall Street Analyst Weigh In

MU has been the subject of a number of recent research reports. Cantor Fitzgerald boosted their target price on Micron Technology from $700.00 to $1,500.00 and gave the stock an "overweight" rating in a research report on Monday, June 8th. DA Davidson initiated coverage on Micron Technology in a research report on Monday, May 11th. They set a "buy" rating and a $1,000.00 target price for the company. Deutsche Bank Aktiengesellschaft boosted their target price on Micron Technology from $500.00 to $550.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Raymond James Financial boosted their target price on Micron Technology from $530.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Micron Technology in a research report on Tuesday, May 12th. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $788.13.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple firms raising price targets and TD Cowen lifting its target to $1,500 on expectations that AI-driven memory demand will keep pricing strong through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: Micron was reported to have been approved to supply HBM4 memory to Nvidia, reinforcing its role as a key AI memory supplier and supporting the long-term growth story. Micron Technology Inc (MU) Gets Nvidia Nod For AI Memory Supply
• Positive Sentiment: Several reports highlighted continued breakout momentum, memory-chip shortages, and strong demand for high-bandwidth memory, all of which have been driving Micron’s recent surge. Stock Of The Day: Did Micron Technology Break Out Again?
• Neutral Sentiment: Micron is approaching its fiscal Q3 earnings report on June 24, and options traders are pricing in a large swing, showing that expectations are elevated and volatility may stay high. Micron (MU) Q3 Earnings on Deck – Options Traders Brace for a 17.6% Price Swing
• Neutral Sentiment: Some analysts and commentary warned the stock is increasingly overbought after its massive year-to-date run, suggesting the latest weakness may reflect a valuation pause rather than a change in fundamentals. Micron stock turns most overbought in 30 years: Time to sell?
• Negative Sentiment: One recent market note said Micron fell more sharply than the broader market in the latest session, indicating some near-term selling pressure and profit-taking after the stock’s huge move higher. Micron (MU) Falls More Steeply Than Broader Market: What Investors Need to Know

Micron Technology Profile

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.

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