DAVENPORT & Co LLC Cuts Stock Position in Micron Technology, Inc. $MU

Key Points

• DAVENPORT & Co. reduced its Micron position by 8.8% in the second quarter, selling 3,199 shares and retaining 33,300 shares valued at approximately $38.4 million. Institutional investors collectively own 80.84% of the company.
• Micron reported a strong quarterly performance, with revenue up 345.8% year over year to $41.46 billion and EPS of $25.11, exceeding analyst expectations. Analysts maintain a consensus “Buy” rating, with a target price of $1,260.31.
• Risks include substantial insider selling, potential margin limits and new patent litigation. Executives sold more than $167.8 million of stock over the past three months, while capped pricing in some contracts and a Netlist lawsuit could temper the bullish AI-driven outlook.

DAVENPORT & Co LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,300 shares of the semiconductor manufacturer's stock after selling 3,199 shares during the quarter. DAVENPORT & Co LLC's holdings in Micron Technology were worth $38,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ramsey Quantitative Systems bought a new position in Micron Technology during the 2nd quarter worth approximately $46,000. Kohmann Bosshard Financial Services LLC bought a new position in Micron Technology in the 1st quarter worth $27,000. High Note Wealth LLC lifted its holdings in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after buying an additional 34 shares during the period. Bayban purchased a new position in shares of Micron Technology in the 4th quarter valued at approximately $29,000. Finally, GoalVest Advisory LLC purchased a new position in Micron Technology during the second quarter valued at $117,000. 80.84% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Susquehanna boosted their price target on Micron Technology from $1,750.00 to $2,000.00 and gave the stock a "positive" rating in a research report on Thursday, June 25th. ThinkEquity reaffirmed a "buy" rating on shares of Micron Technology in a report on Monday, August 3rd. Needham & Company LLC lifted their price objective on Micron Technology from $1,550.00 to $1,650.00 and gave the stock a "buy" rating in a report on Thursday, June 25th. Wedbush upped their target price on shares of Micron Technology from $1,300.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Finally, Wells Fargo & Company upped their price target on Micron Technology from $1,220.00 to $1,525.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $1,260.31.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the completion of the transaction, the executive vice president directly owned 85,737 shares of the company's stock, valued at $92,933,763.78. This trade represents a 31.81% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sanjay Mehrotra sold 37,439 shares of the business's stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $960.38, for a total transaction of $35,955,666.82. Following the completion of the sale, the chief executive officer owned 387,064 shares in the company, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 162,179 shares of company stock worth $167,811,861 over the last three months. 0.24% of the stock is owned by company insiders.

Key Micron Technology News

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

• Positive Sentiment: AI infrastructure spending boosted semiconductor sentiment. Strong earnings and forecasts from CoreWeave and Super Micro Computer reassured investors that hyperscaler and data-center capital expenditures remain robust, supporting demand for Micron’s high-bandwidth memory and other products. AI infrastructure stocks surge after strong earnings from CoreWeave, Supermicro
• Positive Sentiment: Memory shortages and multi-year demand visibility remain bullish. Reports highlighted constrained DRAM and high-bandwidth memory supply, with demand reportedly extending through 2027. Micron’s take-or-pay and strategic customer agreements could lock in volumes, improve revenue visibility and reduce some of the industry’s historical cyclicality. Can Micron’s Take-or-Pay Deals Improve Revenue Growth Visibility?
• Positive Sentiment: Recent financial performance supports the rally. Micron’s fiscal third-quarter revenue rose roughly 346% year over year to about $41.5 billion, while gross margin reached approximately 85%. Analysts and investors cited the earnings surge, elevated pricing and potential benefits from AI, advanced computing and robotics as reasons for continued optimism.
• Neutral Sentiment: Profitability may be peaking in the near term. Although record margins are a major catalyst, some new customer contracts reportedly cap pricing. That could limit further margin expansion if memory prices continue rising, even as contracted demand supports revenue growth. Micron Set A Margin Record On Prices It Has Agreed To Cap
• Negative Sentiment: Netlist initiated new patent litigation against Micron. The action at the U.S. International Trade Commission creates potential legal costs, disruption or restrictions involving products alleged to infringe Netlist patents. The financial impact is uncertain, but the filing adds an overhang to the otherwise bullish narrative. Micron Technology Faces New Legal Action Over Alleged Infringement of Netlist Patents
• Negative Sentiment: Insider selling and cyclical concerns temper enthusiasm. Reported insider activity showed sales without purchases over the past six months, while critics warn that expectations for AI-driven growth and margins may already be extremely high.

Micron Technology Stock Performance

NASDAQ MU opened at $911.29 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 2.98. Micron Technology, Inc. has a 1-year low of $113.46 and a 1-year high of $1,255.00. The business has a 50 day simple moving average of $964.26 and a two-hundred day simple moving average of $671.13. The stock has a market capitalization of $1.03 trillion, a PE ratio of 20.63 and a beta of 2.18.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $21.39 by $3.72. The business had revenue of $41.46 billion for the quarter, compared to analysts' expectations of $35.91 billion. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The company's revenue for the quarter was up 345.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, research analysts predict that Micron Technology, Inc. will post 72.93 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 6th were given a dividend of $0.15 per share. The ex-dividend date was Monday, July 6th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology's dividend payout ratio (DPR) is 1.36%.

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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