Cary Street Partners Financial LLC Has $6.24 Million Stake in Micron Technology, Inc. $MU

Key Points

• Cary Street Partners Financial LLC cut its Micron Technology stake by 13.6% in the fourth quarter, selling 3,454 shares and leaving it with 21,854 shares worth about $6.24 million.
• Micron is drawing strong bullish attention from Wall Street amid the AI memory boom; UBS more than tripled its price target, and analysts say demand from data centers and long-term supply deals is driving the rally.
• The company has reported exceptionally strong financial results, with quarterly EPS and revenue both beating estimates, while its stock has surged to a $1.01 trillion market cap and insiders have also recently sold shares.

Cary Street Partners Financial LLC reduced its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 13.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,854 shares of the semiconductor manufacturer's stock after selling 3,454 shares during the period. Cary Street Partners Financial LLC's holdings in Micron Technology were worth $6,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 1,954,644 shares in the last quarter. State Street Corp grew its holdings in shares of Micron Technology by 0.6% during the 3rd quarter. State Street Corp now owns 51,659,173 shares of the semiconductor manufacturer's stock worth $8,643,613,000 after purchasing an additional 285,582 shares in the last quarter. Capital International Investors grew its holdings in shares of Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer's stock worth $3,910,198,000 after purchasing an additional 155,860 shares in the last quarter. Invesco Ltd. increased its position in shares of Micron Technology by 8.0% in the third quarter. Invesco Ltd. now owns 9,622,166 shares of the semiconductor manufacturer's stock worth $1,609,981,000 after purchasing an additional 708,716 shares during the period. Finally, Legal & General Group Plc increased its position in shares of Micron Technology by 1.9% in the third quarter. Legal & General Group Plc now owns 7,275,842 shares of the semiconductor manufacturer's stock worth $1,217,394,000 after purchasing an additional 135,850 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.

Micron Technology News Roundup

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

• Positive Sentiment: UBS more than tripled its price target on Micron, calling out stronger AI demand and long-term supply deals, which sparked a major re-rating of the stock. Micron closes in on $1 trillion market value as UBS triples share price target
• Positive Sentiment: Analysts say the AI memory boom is still in its early stages, with Micron benefiting from structural shortages and multi-year demand tied to data center buildouts. Micron Stock (MU): This Top Analyst Says the AI Memory Boom Is Just Getting Started
• Positive Sentiment: Micron’s move above a $1 trillion valuation and its strong momentum are drawing more institutional attention and boosting sentiment across the semiconductor sector. Micron hits $1 trillion market cap for the first time as stock surges 18%
• Neutral Sentiment: Commentary around President Trump’s praise of Micron added to the buzz, but most articles suggest the real catalyst is the UBS upgrade and AI-driven fundamentals rather than politics. Donald Trump said 'Micron's great'—3 days later MU stock crosses 1 trillion in market cap
• Neutral Sentiment: Micron’s Virginia DRAM manufacturing launch and expanded U.S. production support the long-term domestic supply story, but this appears secondary to the current rally. Micron Expands U.S. Memory Production With Virginia DRAM Launch

Insider Activity at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the sale, the director owned 17,139 shares in the company, valued at $13,488,907.17. This trade represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares of the company's stock, valued at $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 106,000 shares of company stock worth $47,032,460. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MU. Wells Fargo & Company upped their price objective on shares of Micron Technology from $470.00 to $550.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Sanford C. Bernstein raised their target price on shares of Micron Technology from $330.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Morgan Stanley upped their price target on shares of Micron Technology from $350.00 to $450.00 and gave the stock an "overweight" rating in a report on Wednesday, February 11th. Finally, Stifel Nicolaus increased their price target on shares of Micron Technology from $360.00 to $550.00 and gave the stock a "buy" rating in a research report on Monday, March 2nd. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $554.80.

Micron Technology Stock Performance

Micron Technology stock opened at $895.88 on Wednesday. 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 stock has a market cap of $1.01 trillion, a PE ratio of 42.30 and a beta of 1.91. Micron Technology, Inc. has a 12-month low of $92.22 and a 12-month high of $916.80. The business's 50-day moving average price is $528.34 and its two-hundred day moving average price is $397.68.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping analysts' consensus estimates of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion during the quarter, compared to analysts' expectations of $19.97 billion. During the same quarter in the prior year, the business earned $1.56 earnings per share. The business's revenue for the quarter was up 196 compared to the same quarter last year. As a group, analysts expect that Micron Technology, Inc. will post 57.82 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's payout ratio is currently 2.83%.

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.