Lombard Odier Asset Management Switzerland SA Reduces Stock Position in Micron Technology, Inc. $MU

Key Points

• Lombard Odier Asset Management Switzerland SA cut its Micron Technology stake by 38.4% in the fourth quarter, selling 34,900 shares and leaving it with 55,932 shares worth about $15.96 million.
• Despite the reduction by one institutional holder, institutional ownership remains heavy, with hedge funds and other institutions holding 80.84% of Micron’s stock.
• Wall Street remains bullish on Micron, with a consensus “Buy” rating and an average price target of $788.13, while several firms recently raised targets amid optimism around AI-driven memory demand.

Lombard Odier Asset Management Switzerland SA reduced its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 38.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,932 shares of the semiconductor manufacturer's stock after selling 34,900 shares during the period. Micron Technology makes up 0.7% of Lombard Odier Asset Management Switzerland SA's portfolio, making the stock its 24th largest holding. Lombard Odier Asset Management Switzerland SA's holdings in Micron Technology were worth $15,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Heritage Trust Co boosted its holdings in shares of Micron Technology by 9.7% in the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer's stock worth $4,289,000 after purchasing an additional 1,323 shares during the period. Westpac Banking Corp boosted its holdings in shares of Micron Technology by 251.0% in the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock worth $3,863,000 after purchasing an additional 16,509 shares during the period. Wellington Management Group LLP boosted its holdings in shares of Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock worth $1,196,427,000 after purchasing an additional 1,188,296 shares during the period. Fulton Bank N.A. boosted its holdings in shares of 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 during the period. Finally, Financial Synergies Wealth Advisors Inc. purchased a new position in shares of Micron Technology in the 4th quarter worth approximately $1,316,000. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the business's stock in a transaction dated 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 of the company's stock, valued at $13,488,907.17. The trade was a 10.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the business's 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 sale, the executive vice president directly owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. 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. Insiders sold 146,000 shares of company stock valued at $85,486,715 in the last quarter. Corporate insiders own 0.24% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on MU. Needham & Company LLC lifted their target price on Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a report on Thursday, March 19th. Morgan Stanley lifted their price target on shares of Micron Technology from $520.00 to $1,050.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 3rd. Stifel Nicolaus lifted their price target on shares of Micron Technology from $360.00 to $550.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. Summit Insights cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 19th. Finally, Sanford C. Bernstein lifted their price target on shares of Micron Technology from $330.00 to $510.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 18th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $788.13.

More Micron Technology News

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple firms raising price targets and TD Cowen lifting its target to $1,500 on expectations that AI-driven memory demand will keep pricing strong through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: Micron was reported to have been approved to supply HBM4 memory to Nvidia, reinforcing its role as a key AI memory supplier and supporting the long-term growth story. Micron Technology Inc (MU) Gets Nvidia Nod For AI Memory Supply
• Positive Sentiment: Several reports highlighted continued breakout momentum, memory-chip shortages, and strong demand for high-bandwidth memory, all of which have been driving Micron’s recent surge. Stock Of The Day: Did Micron Technology Break Out Again?
• Neutral Sentiment: Micron is approaching its fiscal Q3 earnings report on June 24, and options traders are pricing in a large swing, showing that expectations are elevated and volatility may stay high. Micron (MU) Q3 Earnings on Deck – Options Traders Brace for a 17.6% Price Swing
• Neutral Sentiment: Some analysts and commentary warned the stock is increasingly overbought after its massive year-to-date run, suggesting the latest weakness may reflect a valuation pause rather than a change in fundamentals. Micron stock turns most overbought in 30 years: Time to sell?
• Negative Sentiment: One recent market note said Micron fell more sharply than the broader market in the latest session, indicating some near-term selling pressure and profit-taking after the stock’s huge move higher. Micron (MU) Falls More Steeply Than Broader Market: What Investors Need to Know

Micron Technology Price Performance

MU opened at $1,020.76 on Wednesday. The business has a fifty day moving average of $705.11 and a 200 day moving average of $476.85. Micron Technology, Inc. has a 52-week low of $103.38 and a 52-week high of $1,110.40. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The stock has a market cap of $1.15 trillion, a P/E ratio of 48.19 and a beta of 2.16.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion during the quarter, compared to analysts' expectations of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm's quarterly revenue was up 196 on a year-over-year basis. During the same period in the previous year, the company earned $1.56 EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 59.23 EPS for the current year.

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.

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.