Cache Advisors LLC Purchases New Shares in Micron Technology, Inc. $MU

Key Points

• Cache Advisors LLC opened a new position in Micron Technology during the first quarter, buying 1,945 shares valued at about $657,000.
• Several other institutional investors also adjusted their Micron stakes, and institutions now own 80.84% of the company’s shares, highlighting continued heavy Wall Street involvement.
• Analysts remain bullish on Micron, with multiple firms sharply raising price targets; the consensus rating is Buy and the average target price stands at $1,008.13.

Cache Advisors LLC purchased a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,945 shares of the semiconductor manufacturer's stock, valued at approximately $657,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock valued at $532,000 after acquiring an additional 976 shares in the last quarter. Sivia Capital Partners LLC lifted its position in shares of Micron Technology by 21.7% during the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock worth $435,000 after purchasing an additional 628 shares in the last quarter. United Bank acquired a new position in shares of Micron Technology during the second quarter worth approximately $236,000. Schnieders Capital Management LLC. grew its stake in shares of Micron Technology by 67.9% during the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer's stock valued at $2,093,000 after purchasing an additional 6,867 shares during the last quarter. Finally, Sei Investments Co. grew its stake in shares of Micron Technology by 5.6% during the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer's stock valued at $49,987,000 after purchasing an additional 21,619 shares during the last quarter. Institutional investors own 80.84% of the company's stock.

Analysts Set New Price Targets

MU has been the subject of several research analyst reports. Rosenblatt Securities boosted their price objective on shares of Micron Technology from $600.00 to $1,200.00 and gave the stock a "buy" rating in a research report on Thursday, June 18th. Cantor Fitzgerald increased their price objective on Micron Technology from $700.00 to $1,500.00 and gave the company an "overweight" rating in a research report on Monday, June 8th. Royal Bank Of Canada lifted their target price on Micron Technology from $525.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday, June 15th. The Goldman Sachs Group lifted their target price on Micron Technology from $400.00 to $900.00 and gave the company a "neutral" rating in a research note on Wednesday, June 10th. Finally, Mizuho boosted their target price on Micron Technology to $800.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. Five investment 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 company. According to MarketBeat, Micron Technology currently has a consensus rating of "Buy" and an average target price of $1,008.13.

More Micron Technology News

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

• Positive Sentiment: Micron announced a strategic AI infrastructure agreement with Anthropic that includes memory and storage supply, AI architecture collaboration, enterprise use of Claude, and an investment in Anthropic’s funding round. Reuters article
• Positive Sentiment: Several Wall Street firms raised price targets on Micron, signaling continued confidence in AI-driven memory demand and earnings upside. Benzinga analyst update
• Neutral Sentiment: Investors are positioning for a potentially large post-earnings move, with options markets pricing in elevated volatility heading into the Q3 report. TipRanks article
• Negative Sentiment: Micron was caught in a broad tech and memory-stock selloff as traders questioned whether massive AI capex spending will translate into sufficient returns. LA Times article
• Negative Sentiment: South Korea’s KOSPI plunge and weakness in SK Hynix and Samsung Electronics added pressure on Micron, reinforcing fears that memory-chip enthusiasm may be overheating. Barron’s article

Micron Technology Stock Down 13.2%

Shares of Micron Technology stock opened at $1,051.77 on Wednesday. The business has a fifty day simple moving average of $776.51 and a 200 day simple moving average of $507.79. The stock has a market cap of $1.19 trillion, a PE ratio of 49.66 and a beta of 2.16. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,213.56.

Insider Buying and Selling

In other news, EVP April S. Arnzen sold 40,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 125,737 shares of the company's stock, valued at $43,679,776.43. This represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the 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 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 a total of 146,000 shares of company stock worth $85,486,715 in the last ninety days. 0.24% of the stock is currently owned by corporate insiders.

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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