Geode Capital Management LLC Decreases Holdings in Micron Technology, Inc. $MU

Key Points

• Geode Capital Management trimmed its Micron Technology stake slightly in the fourth quarter, selling 40,550 shares and ending with 25.998 million shares worth about $7.39 billion.
• Micron’s business momentum remains strong, with its latest earnings beating estimates and revenue surging year over year; analysts also see continued upside tied to AI-driven demand for DRAM and HBM memory.
• The stock has rallied sharply, pushing Micron’s market value above $1 trillion, while analysts remain broadly bullish with multiple price-target hikes and a consensus Buy rating.

Geode Capital Management LLC decreased its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,997,769 shares of the semiconductor manufacturer's stock after selling 40,550 shares during the period. Micron Technology accounts for approximately 0.5% of Geode Capital Management LLC's holdings, making the stock its 28th biggest holding. Geode Capital Management LLC owned 2.31% of Micron Technology worth $7,393,909,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in MU. AQR Capital Management LLC lifted its holdings in shares of Micron Technology by 411.9% in the 3rd 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 during the last quarter. Vanguard Group Inc. grew its position in Micron Technology by 1.9% in the 4th 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 during 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 Headlines Impacting Micron Technology

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

• Positive Sentiment: UBS and Barclays raised their Micron price targets, with UBS setting a Street-high target of $1,625, fueling fresh buying. Benzinga report on UBS price target hike
• Positive Sentiment: Investors are betting that AI-driven shortages in DRAM and HBM memory will keep pricing power strong, supporting Micron’s earnings and margins. Reuters article on Micron joining the $1 trillion club
• Positive Sentiment: Micron’s latest earnings and guidance were extremely strong, with revenue up sharply year over year and management pointing to even higher fiscal Q3 revenue and margins. Seeking Alpha article on Micron’s AI bottleneck trade
• Positive Sentiment: The company announced its fiscal third-quarter earnings report will be released on June 24, keeping attention on another potential catalyst. Micron earnings date announcement
• Neutral Sentiment: Micron has crossed the $1 trillion market-cap milestone, a major headline that underscores the scale of the rally but also raises valuation questions. Forbes article on Micron passing $1 trillion
• Neutral Sentiment: Broader tech and chip stocks are also benefiting from the AI trade, helping support Micron’s move even as the wider market remains mixed. MarketWatch article on memory-chip rally
• Negative Sentiment: Some commentators warn the stock may be getting extended after its huge run, arguing that Micron is now priced for perfection and could be vulnerable if sentiment cools. 24/7 Wall St. cautionary article

Micron Technology Stock Up 3.6%

MU stock opened at $928.41 on Thursday. The stock has a market capitalization of $1.05 trillion, a P/E ratio of 43.83 and a beta of 1.91. The firm has a 50-day simple moving average of $538.07 and a 200-day simple moving average of $402.54. 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 $92.22 and a 52 week high of $956.16.

Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping analysts' consensus estimates of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to analysts' expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company's quarterly revenue was up 196 on a year-over-year basis. During the same quarter in the previous year, the company earned $1.56 earnings per share. Equities analysts forecast that Micron Technology, Inc. will post 57.82 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. This is a boost from Micron Technology's previous quarterly dividend of $0.12. Micron Technology's dividend payout ratio is currently 2.83%.

Insider Buying and Selling at Micron Technology

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer owned 424,503 shares of the company's stock, valued at $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares of the company's stock, valued at approximately $13,488,907.17. This trade represents a 10.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 106,000 shares of company stock worth $47,032,460 in the last 90 days. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on MU shares. 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. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Micron Technology in a report on Tuesday, May 12th. Wells Fargo & Company boosted their price objective on shares of Micron Technology from $470.00 to $550.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Bank of America boosted their price objective on shares of Micron Technology from $400.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research report on Thursday, March 19th. Five 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $566.47.

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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