Cinctive Capital Management LP Sells 25,127 Shares of Micron Technology, Inc. $MU

Key Points

• Cinctive Capital Management cut its Micron stake by 41.1% in the fourth quarter, selling 25,127 shares and leaving the fund with 35,981 shares valued at about $10.3 million.
• Wall Street sentiment remains upbeat, with Deutsche Bank, Citi, and several other firms sharply raising price targets on Micron amid expectations for strong AI-driven memory demand and tight supply.
• Micron’s fundamentals look strong, as the company recently reported quarterly EPS of $12.20 and revenue of $23.86 billion, both well above analyst estimates, while institutional investors still own more than 80% of the stock.

Cinctive Capital Management LP reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 41.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 35,981 shares of the semiconductor manufacturer's stock after selling 25,127 shares during the period. Cinctive Capital Management LP's holdings in Micron Technology were worth $10,269,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Norges Bank bought a new position in shares of Micron Technology during the 4th quarter valued at approximately $6,433,456,000. AQR Capital Management LLC grew its position in shares of Micron Technology by 411.9% during the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer's stock valued at $606,873,000 after acquiring an additional 2,918,535 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Micron Technology by 1,340.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer's stock valued at $805,148,000 after acquiring an additional 2,625,169 shares during the period. Amundi grew its position in shares of Micron Technology by 65.0% during the 4th quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer's stock valued at $1,424,025,000 after acquiring an additional 1,965,319 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Micron Technology by 1.9% during 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 during the period. 80.84% of the stock is owned by institutional investors.

Micron Technology News Roundup

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

• Positive Sentiment: Deutsche Bank raised its price target on Micron to $1,500 and reiterated a buy rating, citing persistent supply constraints and strong demand from AI applications. Micron Technology had its price target raised by Deutsche Bank Aktiengesellschaft from $1,000.00 to $1,500.00. They now have a "buy" rating on the stock.
• Positive Sentiment: Citi also raised its target on Micron to $1,200, reinforcing Wall Street’s view that AI-driven memory demand and stronger pricing power are supporting further upside. Micron Technology had its price target raised by Citigroup Inc. from $840.00 to $1,200.00. They now have a "buy" rating on the stock.
• Positive Sentiment: Multiple recent articles highlighted Micron’s surging revenue, expanding profitability, and unusually strong demand for DRAM, NAND, and high-bandwidth memory, which are key components in AI infrastructure. Micron: New Data Indicates Consensus Estimates Are Too Conservative (Earnings Preview)
• Positive Sentiment: Micron is being framed as a likely beneficiary of the next wave of AI spending, with several outlets saying its rally is supported by improving fundamentals and upcoming earnings expectations. Micron (MU) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Neutral Sentiment: Some commentary noted that Micron may be a candidate for a future stock split after crossing the $1,000 level, but that would be more of a sentiment event than a direct fundamental driver. Will Micron Split Its Stock This Year?
• Neutral Sentiment: There were also a few cautionary takes warning that Micron’s earnings power could be near a cycle peak, which could temper enthusiasm if memory pricing cools later. Micron: Peak Earnings Power Meets The Cycle Clock (Rating Downgrade)

Micron Technology Stock Performance

NASDAQ MU opened at $1,043.19 on Thursday. Micron Technology, Inc. has a 1 year low of $103.38 and a 1 year high of $1,110.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The stock has a market capitalization of $1.18 trillion, a PE ratio of 49.25 and a beta of 2.16. The company's 50 day simple moving average is $718.42 and its two-hundred day simple moving average is $482.57.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its 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 net margin of 41.49% and a return on equity of 41.16%. The business had revenue of $23.86 billion for the quarter, compared to analysts' expectations of $19.97 billion. During the same period in the prior year, the company posted $1.56 EPS. The business's revenue for the quarter was up 196 compared to the same quarter last year. Analysts predict that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on MU. Citigroup raised their price objective on shares of Micron Technology from $840.00 to $1,200.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays raised their price objective on shares of Micron Technology from $450.00 to $675.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Royal Bank Of Canada raised their price objective on shares of Micron Technology from $525.00 to $1,200.00 and gave the stock an "outperform" rating in a report on Monday. Raymond James Financial raised their price objective on shares of Micron Technology from $530.00 to $1,100.00 and gave the stock an "outperform" rating in a report on Monday, June 1st. Finally, Cantor Fitzgerald raised their price objective on shares of Micron Technology from $700.00 to $1,500.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Five research 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's stock. Based on data from MarketBeat, Micron Technology has an average rating of "Buy" and a consensus target price of $831.80.

Insider Activity at Micron Technology

In other news, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the sale, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the firm's stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 146,000 shares of company stock worth $85,486,715. Corporate insiders own 0.24% of the company's stock.

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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