Convergence Financial LLC Sells 6,698 Shares of Micron Technology, Inc. $MU

Key Points

• Convergence Financial LLC cut its Micron position by 87% in the third quarter, selling 6,698 shares and retaining 999 shares valued at approximately $1.06 million. Institutional investors collectively own 80.84% of Micron.
• Micron reported exceptional quarterly momentum, with revenue rising 379% year over year to $54.23 billion and EPS of $33.42, above expectations. The company guided to fiscal Q1 2027 EPS of $37.15–$39.15, supported by strong AI-related memory demand.
• Analyst sentiment remains positive, with Micron holding a “Moderate Buy” consensus rating and an average price target of $1,407.88, although cyclical memory-market risks and recent insider selling remain concerns.

Convergence Financial LLC decreased its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 87.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 999 shares of the semiconductor manufacturer's stock after selling 6,698 shares during the period. Convergence Financial LLC's holdings in Micron Technology were worth $1,064,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Andar Capital Management HK Ltd lifted its position in shares of Micron Technology by 856,960.3% during the 2nd quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer's stock valued at $39,571,847,000 after buying an additional 34,278,413 shares during the last quarter. Primecap Management Co. CA bought a new position in shares of Micron Technology during the 2nd quarter worth $22,182,263,000. Bank of America Corp DE grew its stake in shares of Micron Technology by 26.6% during the 2nd quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer's stock worth $11,744,621,000 after acquiring an additional 2,136,470 shares during the period. Legal & General Group Plc purchased a new stake in Micron Technology in the 2nd quarter worth about $8,402,393,000. Finally, Wellington Management Group LLP increased its holdings in Micron Technology by 28.7% in the 2nd quarter. Wellington Management Group LLP now owns 5,045,141 shares of the semiconductor manufacturer's stock worth $5,823,556,000 after acquiring an additional 1,125,414 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Trending Headlines about Micron Technology

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

• Positive Sentiment: SK Hynix points to sustained shortages. The South Korean memory maker reported a 632% year-over-year increase in operating profit and said its DRAM and high-bandwidth memory (HBM) capacity is effectively sold out through 2029. Management expects demand to exceed supply through 2030, a bullish read-through for Micron’s AI-focused HBM and broader DRAM businesses. Micron Stock Rises as SK Hynix Says DRAM and HBM Sold Out Through 2029
• Positive Sentiment: Micron’s own results show powerful momentum. The company recently reported quarterly revenue of $54.23 billion, up 379% from the prior year, and earnings of $33.42 per share, beating estimates. Its Q1 fiscal 2027 EPS guidance of $37.15 to $39.15 provides further evidence that the memory upcycle remains strong. Why Micron Stock Is Up Today
• Positive Sentiment: Valuation remains attractive to some investors. Articles note that Micron trades at a forward P/E below 6 after retreating from its June peak, while analysts and commentators including Jim Cramer view MU as a potential major beneficiary of the AI memory boom.
• Neutral Sentiment: Additional demand catalysts are emerging. Forecasts that robotics and physical AI could require substantially more memory support Micron’s long-term growth case, although these opportunities remain speculative and are not yet a material revenue driver.
• Negative Sentiment: Investors still face cyclical and valuation risks. Memory shortages can eventually reverse, potentially pressuring prices and profits. Micron’s recent pullback, elevated volatility, and close trading correlation with SK Hynix also leave the stock vulnerable if AI spending or supply-demand conditions weaken.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $983.23 on Thursday. The stock has a market cap of $1.11 trillion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 0.15 and a beta of 2.22. Micron Technology, Inc. has a fifty-two week low of $192.59 and a fifty-two week high of $1,255.00. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.94 and a current ratio of 3.31. The stock has a fifty day moving average of $980.53 and a 200-day moving average of $738.88.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $31.77 by $1.65. The company had revenue of $54.23 billion for the quarter, compared to analyst estimates of $51.33 billion. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The firm's revenue for the quarter was up 379.1% compared to the same quarter last year. During the same period in the previous year, the company posted $3.03 EPS. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Equities research analysts anticipate that Micron Technology, Inc. will post 177.03 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Wednesday, October 14th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, October 14th. Micron Technology's payout ratio is presently 0.81%.

Analyst Ratings Changes

MU has been the topic of a number of research reports. Citigroup boosted their price objective on Micron Technology from $1,150.00 to $1,300.00 and gave the company a "buy" rating in a research note on Wednesday, September 23rd. Sanford C. Bernstein reiterated an "outperform" rating on shares of Micron Technology in a research report on Thursday, October 1st. Morgan Stanley reiterated an "overweight" rating and set a $1,200.00 target price on shares of Micron Technology in a research report on Thursday, October 1st. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating on shares of Micron Technology in a research note on Thursday, October 1st. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $1,500.00 price target on shares of Micron Technology in a research report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, forty-one have given a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Moderate Buy" and a consensus target price of $1,407.88.

Insider Activity

In other news, EVP Sumit Sadana sold 15,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the sale, the executive vice president directly owned 191,021 shares in the company, valued at $178,469,010.09. This represents a 7.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Scott Deboer sold 28,545 shares of the stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $900.00, for a total transaction of $25,690,500.00. Following the completion of the sale, the insider directly owned 147,430 shares in the company, valued at approximately $132,687,000. The trade was a 16.22% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 83,545 shares of company stock worth $78,460,850 over the last ninety days. Company insiders own 0.24% of the company's stock.

Micron Technology Profile

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.

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