Harvey Capital Management Inc. Has $5.86 Million Stock Position in Micron Technology, Inc. $MU

Key Points

• Harvey Capital Management cut its Micron stake by 47.6% in the second quarter, selling 4,605 shares and retaining 5,073 shares valued at approximately $5.86 million. Institutional investors collectively own 80.84% of Micron.
• AI-related memory demand is driving Micron’s outlook. Strong recent earnings, revenue growth and fourth-quarter guidance exceeded expectations, while increased production of high-bandwidth memory for AI servers could support pricing and margins.
• Analysts remain broadly bullish, but risks persist. Micron has a consensus “Buy” rating and a $1,295.63 target price, though competition from China’s CXMT, potential industry oversupply, labor issues and significant insider selling could weigh on the stock.

Harvey Capital Management Inc. lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 47.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,073 shares of the semiconductor manufacturer's stock after selling 4,605 shares during the period. Micron Technology accounts for 1.2% of Harvey Capital Management Inc.'s holdings, making the stock its 24th biggest position. Harvey Capital Management Inc.'s holdings in Micron Technology were worth $5,856,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of MU. Ramsey Quantitative Systems bought a new stake in shares of Micron Technology in the 2nd quarter valued at about $46,000. RHL Group LLC bought a new position in Micron Technology during the second quarter worth about $47,000. Philadelphia Investment Partners LLC acquired a new position in Micron Technology during the second quarter worth approximately $54,000. Signature Resources Capital Management LLC increased its position in Micron Technology by 1,125.0% during the second quarter. Signature Resources Capital Management LLC now owns 49 shares of the semiconductor manufacturer's stock worth $57,000 after buying an additional 45 shares during the last quarter. Finally, Davis Capital Management raised its stake in Micron Technology by 510.0% in the second quarter. Davis Capital Management now owns 61 shares of the semiconductor manufacturer's stock valued at $70,000 after buying an additional 51 shares during the period. Institutional investors own 80.84% of the company's stock.

Micron Technology News Roundup

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

• Positive Sentiment: AI memory demand remains the key catalyst. Micron is reportedly increasing production capacity for more profitable, high-demand memory products used in AI servers, including high-bandwidth memory (HBM). Investors see sustained hyperscaler spending as supporting pricing, revenue and margins. Micron is doubling down on AI memory chips
• Positive Sentiment: Memory stocks led the market. Micron and other memory-related companies benefited from renewed enthusiasm for AI infrastructure, the release of a new OpenAI model and expectations that the NAND pricing cycle may be strengthening. Memory and AI-related stocks lead the market
• Positive Sentiment: Analyst upside forecasts added support. Lynx Equity Strategies said volatility has normalized and maintained an aggressive price target of $1,325 for MU, implying substantial potential upside from recent levels. Lynx Equity sees Micron and SanDisk breakout
• Positive Sentiment: Recent operating results provide fundamental support. Micron’s latest reported quarter significantly exceeded earnings and revenue expectations, with revenue up sharply year over year. The company also issued strong fourth-quarter guidance, reinforcing the view that AI-related memory shortages are translating into exceptional profitability.
• Neutral Sentiment: Long-term customer agreements may reduce—but not eliminate—cyclicality. Reports highlight 16 strategic agreements extending through 2030, some with price floors or bands. These contracts could improve earnings visibility, although investors remain concerned that new industry capacity could eventually pressure pricing. Micron’s contracts reveal the next AI bottleneck
• Negative Sentiment: Competition and execution risks remain. Chinese chipmaker CXMT is gaining DRAM market share, while planned capacity investments by Asian producers could eventually create oversupply. Micron also faces potential labor disruption in Taiwan after unions sought substantially higher compensation, creating a risk to costs and supply continuity. Chinese chipmaker CXMT gains DRAM share

Insider Activity

In other news, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction on Friday, August 21st. The stock was sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the completion of the sale, the chief executive officer owned 264,503 shares of the company's stock, valued at approximately $256,276,956.70. This trade represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Scott Allen sold 879 shares of the business's stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $1,000.00, for a total transaction of $879,000.00. Following the completion of the sale, the chief accounting officer directly owned 34,958 shares of the company's stock, valued at approximately $34,958,000. The trade was a 2.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 177,204 shares of company stock worth $182,156,264. Corporate insiders own 0.24% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Seaport Research Partners reaffirmed a "buy" rating on shares of Micron Technology in a research report on Friday, August 14th. Needham & Company LLC boosted their target price 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. Erste Group Bank upgraded Micron Technology from a "hold" rating to a "buy" rating in a research note on Thursday, June 25th. TD Cowen reaffirmed a "buy" rating on shares of Micron Technology in a report on Friday, July 10th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Micron Technology in a research report on Friday, August 7th. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Micron Technology has an average rating of "Buy" and a consensus target price of $1,295.63.

Micron Technology Price Performance

Micron Technology stock opened at $1,016.59 on Friday. Micron Technology, Inc. has a 12 month low of $125.66 and a 12 month high of $1,255.00. The stock's 50 day moving average is $935.15 and its 200-day moving average is $734.51. The company has a current ratio of 3.42, a quick ratio of 2.98 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 23.02, a PEG ratio of 0.64 and a beta of 2.22.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, topping the consensus estimate of $21.39 by $3.72. The business had revenue of $41.46 billion during 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 firm's revenue for the quarter was up 345.8% compared to the same quarter last year. During the same period last year, the firm posted $1.91 EPS. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Equities research analysts expect that Micron Technology, Inc. will post 72.93 EPS for the current year.

Micron Technology Dividend Announcement

The company 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 presently 1.36%.

Micron Technology 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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source