Concentric Capital Strategies LP Buys New Stake in Micron Technology, Inc. $MU

Key Points

• Concentric Capital Strategies LP opened a new position in Micron Technology during the fourth quarter, buying 48,882 shares worth about $13.95 million. The stake is about 0.7% of the fund’s portfolio.
• Micron has attracted broader institutional interest, with several other hedge funds and asset managers increasing or initiating positions, and 80.84% of the stock is owned by institutions and hedge funds.
• The article highlights strong momentum in Micron’s business and stock: the company beat quarterly earnings and revenue estimates, while multiple analysts raised price targets, citing AI-driven demand and tight memory supply.

Concentric Capital Strategies LP purchased a new position in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 48,882 shares of the semiconductor manufacturer's stock, valued at approximately $13,951,000. Micron Technology comprises approximately 0.7% of Concentric Capital Strategies LP's investment portfolio, making the stock its 29th biggest position.

A number of other large investors have also made changes to their positions in MU. Brighton Jones LLC boosted its position in shares of Micron Technology by 18.3% in the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer's stock worth $532,000 after purchasing an additional 976 shares in the last quarter. Sivia Capital Partners LLC increased its stake in Micron Technology by 21.7% during the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer's stock valued at $435,000 after purchasing an additional 628 shares in the last quarter. United Bank purchased a new position in Micron Technology in the 2nd quarter worth $236,000. Schnieders Capital Management LLC. grew its stake in Micron Technology by 67.9% during the 2nd 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. increased its holdings in shares of Micron Technology by 5.6% in 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 period. 80.84% of the stock is owned by institutional investors and hedge funds.

More Micron Technology News

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 Trading Up 2.2%

Shares of Micron Technology stock opened at $1,043.19 on Thursday. The firm has a 50-day simple moving average of $718.42 and a two-hundred day simple moving average of $482.57. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology, Inc. has a fifty-two week low of $103.38 and a fifty-two week high of $1,110.40. The company has a market cap of $1.18 trillion, a P/E ratio of 49.25 and a beta of 2.16.

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

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Melius Research assumed coverage on Micron Technology in a research report on Monday, April 27th. They issued a "buy" rating and a $700.00 target price on the stock. Raymond James Financial upped their price objective on shares of Micron Technology from $530.00 to $1,100.00 and gave the company an "outperform" rating in a report on Monday, June 1st. KeyCorp raised their target price on shares of Micron Technology from $450.00 to $600.00 and gave the stock an "overweight" rating in a report on Thursday, March 19th. Morgan Stanley increased their price target on Micron Technology from $520.00 to $1,050.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. Finally, Wells Fargo & Company boosted their price objective on Micron Technology from $550.00 to $1,220.00 and gave the company an "overweight" rating in a report on Monday, June 8th. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $831.80.

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction 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 completion of the transaction, the director directly owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 146,000 shares of company stock valued at $85,486,715. Corporate insiders own 0.24% of the company's stock.

Micron Technology Company 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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