Covestor Ltd Sells 3,355 Shares of Micron Technology, Inc. $MU

Key Points

• Covestor Ltd cut its Micron Technology stake by 74% in the fourth quarter, selling 3,355 shares and leaving it with 1,180 shares worth about $337,000.
• Other institutional investors were generally more bullish, with firms like Vanguard, AQR, and Wellington adding to their positions; institutions now own about 80.84% of Micron’s stock.
• Wall Street sentiment remains positive, with multiple analysts raising price targets and issuing buy ratings, while recent commentary highlights Micron as a key beneficiary of the AI memory demand trend.

Covestor Ltd lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 74.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,180 shares of the semiconductor manufacturer's stock after selling 3,355 shares during the period. Covestor Ltd's holdings in Micron Technology were worth $337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in MU. AQR Capital Management LLC raised its stake in shares of Micron Technology by 411.9% during the third 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 in the last quarter. Vanguard Group Inc. raised its stake in shares of Micron Technology by 1.9% during the fourth 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. California Public Employees Retirement System raised its stake in shares of Micron Technology by 70.2% during the third quarter. California Public Employees Retirement System now owns 3,023,799 shares of the semiconductor manufacturer's stock valued at $505,942,000 after acquiring an additional 1,246,773 shares in the last quarter. Voloridge Investment Management LLC raised its stake in shares of Micron Technology by 1,064.3% during the third quarter. Voloridge Investment Management LLC now owns 1,304,471 shares of the semiconductor manufacturer's stock valued at $218,264,000 after acquiring an additional 1,192,433 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Micron Technology by 19.9% during the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock valued at $1,196,427,000 after acquiring an additional 1,188,296 shares in the last quarter. Institutional investors own 80.84% of the company's stock.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Citigroup raised its price target on Micron Technology (MU) to $840 from $425 and reiterated a buy rating, while Mizuho lifted its target to $800 with an outperform rating, signaling continued Wall Street confidence in the stock’s upside. Article Title
• Positive Sentiment: Multiple articles highlighted Micron as a standout in the AI memory trade, arguing that enterprise AI is shifting capital spending toward storage and NAND flash, which could sustain pricing power and margin expansion for Micron. Article Title
• Positive Sentiment: Investor sentiment was further supported by articles noting that Micron remains one of the market’s profitable AI-related picks and that Wall Street’s 12-month forecasts for the stock remain broadly bullish. Article Title
• Neutral Sentiment: Some commentary suggested Micron’s earlier pullback was tied to broader semiconductor weakness, valuation concerns after a big AI-driven rally, and macro worries such as higher bond yields and memory-demand uncertainty. Article Title

Micron Technology Stock Performance

Shares of MU stock opened at $698.74 on Wednesday. The firm has a market cap of $787.99 billion, a price-to-earnings ratio of 32.99 and a beta of 1.91. The company's 50 day moving average is $491.35 and its 200 day moving average is $378.29. 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 52-week low of $90.93 and a 52-week high of $818.67.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were issued a $0.15 dividend. This is an increase from Micron Technology's previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. Micron Technology's dividend payout ratio is presently 2.83%.

Insider Activity

In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the transaction, the executive vice president directly owned 224,021 shares of the company's stock, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology 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 completion of the transaction, the chief executive officer directly 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. The SEC filing for this sale provides additional information. Insiders sold a total of 106,000 shares of company stock valued at $47,032,460 over the last three months. Company insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

MU has been the subject of several research analyst reports. Melius Research started coverage on shares of Micron Technology in a research note on Monday, April 27th. They set a "buy" rating and a $700.00 price target for the company. Weiss Ratings reissued a "buy (b)" rating on shares of Micron Technology in a report on Tuesday, May 12th. DA Davidson started coverage on shares of Micron Technology in a report on Monday, May 11th. They set a "buy" rating and a $1,000.00 price objective on the stock. Rosenblatt Securities reissued a "buy" rating and set a $500.00 price objective on shares of Micron Technology in a report on Monday, March 16th. Finally, The Goldman Sachs Group lifted their price objective on shares of Micron Technology from $360.00 to $400.00 and gave the company a "neutral" rating in a report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Micron Technology has a consensus rating of "Buy" and a consensus target price of $518.47.

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.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

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.