Independence Bank of Kentucky Sells 2,795 Shares of Micron Technology, Inc. $MU

Key Points

• Independence Bank of Kentucky cut its Micron Technology stake by 25.5% in the first quarter, selling 2,795 shares and leaving it with 8,162 shares worth about $2.76 million.
• Micron continues to draw bullish analyst attention, with TD Cowen reiterating a Buy and a $1,600 price target on tight supply and strong AI memory demand; several other firms also raised targets.
• The company reported blowout quarterly results, including EPS of $25.11 versus $21.39 expected and revenue of $41.46 billion, while also announcing a quarterly dividend of $0.15 per share.

Independence Bank of Kentucky reduced its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 25.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,162 shares of the semiconductor manufacturer's stock after selling 2,795 shares during the quarter. Independence Bank of Kentucky's holdings in Micron Technology were worth $2,757,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Micron Technology in the first quarter worth $27,000. High Note Wealth LLC boosted its stake in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 34 shares during the period. Elevation Wealth Partners LLC grew its holdings in Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after buying an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. increased its position in shares of Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after buying an additional 96 shares during the period. Finally, Bayban purchased a new stake in shares of Micron Technology in the fourth quarter worth about $29,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Micron Technology News

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

• Positive Sentiment: TD Cowen reiterated a Buy on Micron with a $1,600 price target, citing tight supply and strong demand for AI memory. Micron’s (MU) Tight Supply Drives This Five-Star Analyst’s $1,600 Outlook
• Positive Sentiment: Micron announced plans to invest up to $3 billion in the U.S. semiconductor supply chain, including a $500 million financing deal with GlobalWafers and a 10-year wafer supply agreement, which supports long-term manufacturing capacity and supply security. Micron boosts plans for investment in US to over $250B
• Positive Sentiment: Analysts and investors continue to highlight Micron’s blowout results, with strong revenue growth, margin expansion, and high-bandwidth memory demand reinforcing the long-term bull case. Micron Crushes Earnings: Is a Stock Split Next?
• Neutral Sentiment: Micron is also getting attention from traders because of heavy volume and broader volatility in the AI-memory complex, which suggests the stock may be consolidating after a strong move. Why Is Micron Stock Slipping Today, 7/10/26?
• Negative Sentiment: SK Hynix’s Nasdaq debut is giving investors another way to play AI memory, which may be pulling some money away from Micron and fueling valuation comparisons across the sector. Is SK Hynix stock a better pick to play AI memory market than Micron?
• Negative Sentiment: Some articles note that the recent AI sell-off is more about stretched expectations than fundamentals, implying investors are taking profits even in strong names like Micron. The AI Sell-Off That Isn't About AI

Micron Technology Price Performance

MU stock traded down $12.34 during midday trading on Friday, reaching $979.30. The company had a trading volume of 31,541,681 shares, compared to its average volume of 49,181,996. The firm has a 50-day moving average price of $923.27 and a 200-day moving average price of $578.17. The company has a market capitalization of $1.11 trillion, a P/E ratio of 22.17 and a beta of 2.14. Micron Technology, Inc. has a 1 year low of $103.38 and a 1 year 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.

Micron Technology (NASDAQ:MU - Get Free Report) last posted its quarterly earnings data on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $35.91 billion. During the same period in the previous year, the firm posted $1.91 EPS. The firm's revenue was up 345.8% compared to the same quarter last year. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. On average, research analysts anticipate that Micron Technology, Inc. will post 72.94 earnings per share for the current fiscal year.

Micron Technology Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 21st. Investors of record on Monday, July 6th will be given a $0.15 dividend. The ex-dividend date is 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 presently 1.36%.

Insider Transactions at Micron Technology

In other news, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 28,506 shares of the company's stock in a transaction on Friday, June 26th. The shares were sold at an average price of $1,149.28, for a total transaction of $32,761,375.68. Following the completion of the sale, the chief executive officer directly owned 355,997 shares of the company's stock, valued at $409,140,232.16. This trade represents a 7.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 163,300 shares of company stock worth $152,667,204. 0.24% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on MU. JPMorgan Chase & Co. boosted their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Wedbush raised their price target on shares of Micron Technology from $1,300.00 to $1,400.00 and gave the company an "outperform" rating in a report on Thursday, June 25th. Barclays boosted their price target on shares of Micron Technology from $1,175.00 to $2,000.00 and gave the company an "overweight" rating in a research report on Thursday, June 25th. Citigroup increased their price objective on Micron Technology from $1,200.00 to $1,400.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Finally, Melius Research initiated coverage on Micron Technology in a research note on Monday, April 27th. They set a "buy" rating and a $700.00 price objective for the company. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $1,263.76.

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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