ExodusPoint Capital Management LP Buys New Holdings in Micron Technology, Inc. $MU

ExodusPoint Capital Management LP bought a new stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 88,251 shares of the semiconductor manufacturer's stock, valued at approximately $25,188,000.

Several other institutional investors also recently bought and sold shares of the stock. Heritage Trust Co lifted its holdings in Micron Technology by 9.7% in the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer's stock worth $4,289,000 after buying an additional 1,323 shares during the period. Westpac Banking Corp lifted its holdings in Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after buying an additional 16,509 shares during the period. Wellington Management Group LLP lifted its holdings in Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock worth $1,196,427,000 after buying an additional 1,188,296 shares during the period. Fulton Bank N.A. lifted its holdings in Micron Technology by 79.1% in the 4th quarter. Fulton Bank N.A. now owns 16,183 shares of the semiconductor manufacturer's stock worth $4,619,000 after buying an additional 7,147 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. purchased a new stake in Micron Technology in the 4th quarter worth approximately $1,316,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the transaction, the director owned 17,139 shares of the company's stock, valued at $13,488,907.17. This trade represents a 10.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 146,000 shares of company stock worth $85,486,715 in the last 90 days. Corporate insiders own 0.24% of the company's stock.

Micron Technology Stock Down 6.2%

MU stock opened at $1,020.76 on Wednesday. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,110.40. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.15 trillion, a PE ratio of 48.19 and a beta of 2.16. The business has a 50 day moving average of $705.11 and a 200 day moving average of $476.85.

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

Wall Street Analyst Weigh In

MU has been the subject of several research analyst reports. UBS Group increased their price objective on Micron Technology from $535.00 to $1,625.00 and gave the stock a "buy" rating in a report on Tuesday, May 26th. Needham & Company LLC increased their target price on Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Susquehanna increased their target price on Micron Technology from $600.00 to $1,750.00 and gave the stock a "positive" rating in a research report on Friday, May 29th. Mizuho increased their target price on Micron Technology to $800.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. Finally, Bank of America increased their target price on Micron Technology from $400.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $788.13.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple firms raising price targets and TD Cowen lifting its target to $1,500 on expectations that AI-driven memory demand will keep pricing strong through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: Micron was reported to have been approved to supply HBM4 memory to Nvidia, reinforcing its role as a key AI memory supplier and supporting the long-term growth story. Micron Technology Inc (MU) Gets Nvidia Nod For AI Memory Supply
• Positive Sentiment: Several reports highlighted continued breakout momentum, memory-chip shortages, and strong demand for high-bandwidth memory, all of which have been driving Micron’s recent surge. Stock Of The Day: Did Micron Technology Break Out Again?
• Neutral Sentiment: Micron is approaching its fiscal Q3 earnings report on June 24, and options traders are pricing in a large swing, showing that expectations are elevated and volatility may stay high. Micron (MU) Q3 Earnings on Deck – Options Traders Brace for a 17.6% Price Swing
• Neutral Sentiment: Some analysts and commentary warned the stock is increasingly overbought after its massive year-to-date run, suggesting the latest weakness may reflect a valuation pause rather than a change in fundamentals. Micron stock turns most overbought in 30 years: Time to sell?
• Negative Sentiment: One recent market note said Micron fell more sharply than the broader market in the latest session, indicating some near-term selling pressure and profit-taking after the stock’s huge move higher. Micron (MU) Falls More Steeply Than Broader Market: What Investors Need to Know

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.

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