Hodges Capital Management Inc. Reduces Holdings in Micron Technology, Inc. $MU

Key Points

• Hodges Capital Management cut its Micron stake by 26.6% in the second quarter, selling 16,650 shares and retaining 45,882 shares worth approximately $53 million. Institutional investors still own 80.84% of Micron.
• Micron reported strong quarterly results, with EPS of $25.11 beating estimates and revenue rising 345.8% year over year to $41.46 billion. The company is also investing heavily in AI and memory technology, including a planned $10 billion research initiative and a $50 billion Idaho manufacturing expansion.
• Analysts remain broadly bullish, with Micron carrying a consensus “Buy” rating and an average price target of $1,259.97. However, the stock remains volatile, insiders have sold shares, and Micron is prioritizing investment over near-term buybacks.

Hodges Capital Management Inc. reduced its position in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 26.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 45,882 shares of the semiconductor manufacturer's stock after selling 16,650 shares during the period. Micron Technology comprises 3.5% of Hodges Capital Management Inc.'s holdings, making the stock its 2nd largest position. Hodges Capital Management Inc.'s holdings in Micron Technology were worth $52,961,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MU. Jennison Associates LLC increased its position in Micron Technology by 53.8% during the second quarter. Jennison Associates LLC now owns 529,195 shares of the semiconductor manufacturer's stock worth $610,844,000 after buying an additional 185,147 shares during the last quarter. Fire Capital Management LLC lifted its position in shares of Micron Technology by 1.4% in the second quarter. Fire Capital Management LLC now owns 2,744 shares of the semiconductor manufacturer's stock valued at $3,167,000 after buying an additional 39 shares during the last quarter. Valliance Asset Management Ltd lifted its position in shares of Micron Technology by 1,191.2% in the second quarter. Valliance Asset Management Ltd now owns 163,980 shares of the semiconductor manufacturer's stock valued at $189,280,000 after buying an additional 151,280 shares during the last quarter. Warburton Capital Management LLC boosted its stake in shares of Micron Technology by 4.5% during the 2nd quarter. Warburton Capital Management LLC now owns 1,139 shares of the semiconductor manufacturer's stock worth $1,314,000 after acquiring an additional 49 shares during the period. Finally, Merit Financial Group LLC boosted its stake in shares of Micron Technology by 13.3% during the 2nd quarter. Merit Financial Group LLC now owns 54,880 shares of the semiconductor manufacturer's stock worth $63,348,000 after acquiring an additional 6,446 shares during the period. 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: $10 billion AI research investment: Micron unveiled Micron Research Labs, a Boise-based facility backed by a planned $10 billion investment over the next decade. The lab will focus on memory technology, advanced packaging, computing systems and future semiconductor manufacturing, potentially strengthening Micron’s competitive position in AI memory. Micron Unveils Micron Research Labs
• Positive Sentiment: AI is changing memory demand: CEO Sanjay Mehrotra said AI has “totally changed” the traditionally cyclical memory industry because AI systems cannot function without memory. His comments reinforce the view that demand for high-bandwidth memory, server DRAM and data-center storage could remain structurally strong rather than follow the usual boom-and-bust pattern. Micron CEO on AI and the memory industry
• Positive Sentiment: Industry-wide support: SK hynix’s roughly $28.6 billion share repurchase and cancellation program lifted confidence across memory stocks. Investors interpreted the move as evidence of strong cash generation, tight high-end memory supply and management confidence in AI-related demand, with Micron benefiting in sympathy. SK hynix buyback supports memory stocks
• Neutral Sentiment: Large-scale expansion: Micron’s planned $50 billion Idaho manufacturing buildout is expected to create jobs and expand U.S. memory capacity, but it is also straining local infrastructure. The spending should support long-term growth while increasing execution and capital-allocation demands. Micron’s Boise expansion
• Negative Sentiment: No immediate buyback: Unlike some rivals, Micron is prioritizing investment and may have to wait before returning capital through substantial share repurchases, which could make the stock less attractive to investors seeking near-term shareholder distributions. Why Micron is not joining the memory buyback wave
• Negative Sentiment: Institutional selling and valuation risk: Stanley Druckenmiller’s Duquesne Family Office reportedly exited Micron during the second quarter, while recent commentary has warned that AI-related spending and memory pricing may still be cyclical. Micron’s sharp prior pullback also highlights the stock’s volatility and sensitivity to macroeconomic and semiconductor-sector sentiment.

Analyst Ratings Changes

A number of research firms recently weighed in on MU. Stifel Nicolaus boosted their target price on Micron Technology from $550.00 to $1,500.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Raymond James Financial lifted their price objective on shares of Micron Technology from $1,100.00 to $1,500.00 and gave the stock an "outperform" rating in a research report on Thursday, June 25th. ThinkEquity reiterated a "buy" rating on shares of Micron Technology in a report on Monday, August 3rd. Mizuho increased their price objective on shares of Micron Technology from $1,150.00 to $1,375.00 and gave the company an "outperform" rating in a research report on Thursday, June 25th. Finally, Susquehanna increased their price objective on shares of Micron Technology from $1,750.00 to $2,000.00 and gave the company a "positive" rating in a research report on Thursday, June 25th. Three equities research analysts have rated the stock with a Strong Buy rating, thirty-two have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Micron Technology has an average rating of "Buy" and a consensus price target of $1,259.97.

Micron Technology Stock Up 4.0%

MU stock opened at $974.33 on Friday. Micron Technology, Inc. has a fifty-two week low of $114.25 and a fifty-two week high of $1,255.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 2.98. The stock has a market capitalization of $1.10 trillion, a price-to-earnings ratio of 22.06 and a beta of 2.18. The business's fifty day moving average price is $967.32 and its two-hundred day moving average price is $694.37.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The company had revenue of $41.46 billion during the quarter, compared to analysts' expectations of $35.91 billion. During the same quarter in the previous year, the business posted $1.91 earnings per share. Micron Technology's quarterly revenue was up 345.8% on a year-over-year basis. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, equities analysts anticipate that Micron Technology, Inc. will post 72.93 earnings per share for the current 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 issued a $0.15 dividend. The ex-dividend date of this dividend was Monday, July 6th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. Micron Technology's payout ratio is currently 1.36%.

Insider Activity

In other Micron Technology news, EVP Sumit Sadana sold 15,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the transaction, the executive vice president owned 191,021 shares in the company, valued at $178,469,010.09. This represents a 7.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Scott R. Allen sold 879 shares of the firm's stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $1,000.00, for a total value of $879,000.00. Following the completion of the transaction, the chief accounting officer owned 34,958 shares in the company, valued at $34,958,000. The trade was a 2.45% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 177,179 shares of company stock worth $181,826,211. Insiders own 0.24% of the company's stock.

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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