Godsey & Gibb Inc. Acquires 1,025 Shares of Micron Technology, Inc. $MU

Key Points

• Godsey & Gibb Inc. more than doubled its Micron position in Q1, buying 1,025 additional shares and ending with 1,933 shares valued at about $653,000.
• Micron continues to attract broad institutional interest, with hedge funds and other investors owning 80.84% of the company’s stock overall.
• Despite some insider selling, Wall Street sentiment remains bullish: several analysts have recently raised price targets, and Micron is benefiting from optimism around AI-driven memory demand and its new strategic agreement with Anthropic.

Godsey & Gibb Inc. boosted its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 112.9% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,933 shares of the semiconductor manufacturer's stock after buying an additional 1,025 shares during the quarter. Godsey & Gibb Inc.'s holdings in Micron Technology were worth $653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Heritage Trust Co increased its position in shares of Micron Technology by 9.7% during the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer's stock valued at $4,289,000 after purchasing an additional 1,323 shares during the last quarter. Westpac Banking Corp raised its position in shares of Micron Technology by 251.0% during the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock valued at $3,863,000 after purchasing an additional 16,509 shares during the period. Wellington Management Group LLP raised its holdings in 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 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 purchasing an additional 7,147 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in Micron Technology in the 4th quarter worth approximately $1,316,000. Institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other news, Director Steven J. Gomo sold 2,000 shares of the company's stock in a transaction dated 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 sale, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 146,000 shares of company stock valued at $85,486,715. Corporate insiders own 0.24% of the company's stock.

Micron Technology Trading Down 13.2%

Shares of MU opened at $1,051.77 on Wednesday. The stock has a market capitalization of $1.19 trillion, a PE ratio of 49.66 and a beta of 2.16. The company's fifty day moving average is $776.51 and its 200 day moving average is $507.79. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. Micron Technology, Inc. has a fifty-two week low of $103.38 and a fifty-two week high of $1,213.56.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Micron announced a strategic AI infrastructure agreement with Anthropic that includes memory and storage supply, AI architecture collaboration, enterprise use of Claude, and an investment in Anthropic’s funding round. Reuters article
• Positive Sentiment: Several Wall Street firms raised price targets on Micron, signaling continued confidence in AI-driven memory demand and earnings upside. Benzinga analyst update
• Neutral Sentiment: Investors are positioning for a potentially large post-earnings move, with options markets pricing in elevated volatility heading into the Q3 report. TipRanks article
• Negative Sentiment: Micron was caught in a broad tech and memory-stock selloff as traders questioned whether massive AI capex spending will translate into sufficient returns. LA Times article
• Negative Sentiment: South Korea’s KOSPI plunge and weakness in SK Hynix and Samsung Electronics added pressure on Micron, reinforcing fears that memory-chip enthusiasm may be overheating. Barron’s article

Analyst Ratings Changes

MU has been the topic of several research analyst reports. Susquehanna boosted their target price on shares of Micron Technology from $600.00 to $1,750.00 and gave the stock a "positive" rating in a report on Friday, May 29th. Citigroup raised their target price on shares of Micron Technology from $840.00 to $1,200.00 and gave the company a "buy" rating in a research note on Wednesday, June 17th. Morgan Stanley lifted their price target on shares of Micron Technology from $520.00 to $1,050.00 and gave the company an "overweight" rating in a report on Wednesday, June 3rd. Needham & Company LLC increased their price objective on shares of Micron Technology from $500.00 to $1,550.00 and gave the company a "buy" rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Micron Technology from $1,000.00 to $1,500.00 and gave the stock a "buy" rating in a report on Wednesday, June 17th. Five investment 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. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $1,008.13.

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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