Ionic Capital Management LLC Sells 3,213 Shares of Micron Technology, Inc. $MU

Key Points

• Ionic Capital Management LLC reduced its Micron Technology stake by 33.4% in the fourth quarter, selling 3,213 shares and leaving it with 6,418 shares worth about $1.83 million.
• Several other institutional investors also adjusted positions, while 80.84% of Micron’s stock remains institutionally owned, indicating heavy Wall Street participation in the name.
• Micron continues to draw bullish attention from analysts and recent reports, with strong earnings, AI-driven memory demand, and multiple raised price targets supporting a consensus “Buy” rating.

Ionic Capital Management LLC cut its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 33.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,418 shares of the semiconductor manufacturer's stock after selling 3,213 shares during the quarter. Micron Technology accounts for approximately 0.2% of Ionic Capital Management LLC's holdings, making the stock its 23rd largest position. Ionic Capital Management LLC's holdings in Micron Technology were worth $1,832,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. High Note Wealth LLC lifted its holdings in shares of Micron Technology by 65.4% during the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 34 shares during the period. Elevation Wealth Partners LLC lifted its holdings in shares of 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 during the period. Steigerwald Gordon & Koch Inc. lifted its holdings in shares of Micron Technology by 4,800.0% during the 4th 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. Joseph Group Capital Management bought a new position in shares of Micron Technology during the 4th quarter valued at $31,000. Finally, Luken Investment Analytics LLC bought a new position in shares of Micron Technology during the 4th quarter valued at $31,000. 80.84% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 2,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $787.03, for a total value of $1,574,060.00. Following the transaction, 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. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the completion of the transaction, the executive vice president directly owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 146,000 shares of company stock valued at $85,486,715 in the last 90 days. 0.24% of the stock is owned by company insiders.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $1,043.19 on Thursday. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,110.40. The stock's fifty day moving average is $718.42 and its 200 day moving average is $482.57. The stock has a market cap of $1.18 trillion, a P/E ratio of 49.25 and a beta of 2.16. 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 (NASDAQ:MU - Get Free Report) last announced 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. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company had revenue of $23.86 billion for the quarter, compared to analysts' expectations of $19.97 billion. During the same period last year, the firm earned $1.56 EPS. Micron Technology's revenue for the quarter was up 196 compared to the same quarter last year. Sell-side analysts anticipate that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

Analyst Upgrades and Downgrades

MU has been the topic of several research analyst reports. Melius Research initiated coverage on Micron Technology in a report on Monday, April 27th. They set a "buy" rating and a $700.00 price target on the stock. Bank of America increased their price target on Micron Technology from $400.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Sanford C. Bernstein increased their price target on Micron Technology from $330.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. Royal Bank Of Canada increased their price target on Micron Technology from $525.00 to $1,200.00 and gave the company an "outperform" rating in a report on Monday. Finally, Cantor Fitzgerald increased their price target on Micron Technology from $700.00 to $1,500.00 and gave the company an "overweight" rating in a report on Monday, June 8th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology presently has a consensus rating of "Buy" and a consensus target price of $831.80.

More Micron Technology News

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

• Positive Sentiment: Deutsche Bank raised its price target on Micron to $1,500 and reiterated a buy rating, citing persistent supply constraints and strong demand from AI applications. Micron Technology had its price target raised by Deutsche Bank Aktiengesellschaft from $1,000.00 to $1,500.00. They now have a "buy" rating on the stock.
• Positive Sentiment: Citi also raised its target on Micron to $1,200, reinforcing Wall Street’s view that AI-driven memory demand and stronger pricing power are supporting further upside. Micron Technology had its price target raised by Citigroup Inc. from $840.00 to $1,200.00. They now have a "buy" rating on the stock.
• Positive Sentiment: Multiple recent articles highlighted Micron’s surging revenue, expanding profitability, and unusually strong demand for DRAM, NAND, and high-bandwidth memory, which are key components in AI infrastructure. Micron: New Data Indicates Consensus Estimates Are Too Conservative (Earnings Preview)
• Positive Sentiment: Micron is being framed as a likely beneficiary of the next wave of AI spending, with several outlets saying its rally is supported by improving fundamentals and upcoming earnings expectations. Micron (MU) Earnings Expected to Grow: What to Know Ahead of Next Week's Release
• Neutral Sentiment: Some commentary noted that Micron may be a candidate for a future stock split after crossing the $1,000 level, but that would be more of a sentiment event than a direct fundamental driver. Will Micron Split Its Stock This Year?
• Neutral Sentiment: There were also a few cautionary takes warning that Micron’s earnings power could be near a cycle peak, which could temper enthusiasm if memory pricing cools later. Micron: Peak Earnings Power Meets The Cycle Clock (Rating Downgrade)

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.

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