Convergence Financial LLC increased its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 442.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,697 shares of the semiconductor manufacturer's stock after buying an additional 6,279 shares during the quarter. Micron Technology comprises about 0.7% of Convergence Financial LLC's holdings, making the stock its 26th largest position. Convergence Financial LLC's holdings in Micron Technology were worth $8,885,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. Ramsey Quantitative Systems purchased a new position in shares of Micron Technology in the 2nd quarter valued at approximately $46,000. RHL Group LLC acquired a new position in shares of Micron Technology in the second quarter valued at approximately $47,000. Signature Resources Capital Management LLC raised its stake in shares of 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 purchasing an additional 45 shares during the last quarter. Davis Capital Management raised its stake in shares of Micron Technology by 510.0% during the second quarter. Davis Capital Management now owns 61 shares of the semiconductor manufacturer's stock worth $70,000 after purchasing an additional 51 shares during the last quarter. Finally, Glynn Capital Management LLC lifted its holdings in shares of Micron Technology by 40.9% during the second quarter. Glynn Capital Management LLC now owns 62 shares of the semiconductor manufacturer's stock worth $72,000 after purchasing an additional 18 shares during the period. Institutional investors and hedge funds own 80.84% of the company's stock.
Insider Transactions at Micron Technology
In related news, CEO Sanjay Mehrotra sold 31,285 shares of the business's stock in a transaction dated Friday, July 24th. The shares were sold at an average price of $926.83, for a total transaction of $28,995,876.55. Following the sale, the chief executive officer owned 313,218 shares of the company's stock, valued at approximately $290,299,838.94. The trade was a 9.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Sumit Sadana sold 15,000 shares of the company's stock in a transaction dated Tuesday, August 18th. The stock was 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. The trade was a 7.28% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 177,179 shares of company stock valued at $181,826,211. 0.24% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms recently weighed in on MU. Bank of America lifted their price objective on shares of Micron Technology from $950.00 to $1,500.00 and gave the company a "buy" rating in a research report on Tuesday, June 23rd. Barclays upped their price objective on shares of Micron Technology from $1,175.00 to $2,000.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Melius Research started coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a "buy" rating and a $700.00 target price for the company. Erste Group Bank raised shares of Micron Technology from a "hold" rating to a "buy" rating in a report on Thursday, June 25th. Finally, Mizuho boosted their price target on shares of Micron Technology from $1,150.00 to $1,375.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Micron Technology currently has a consensus rating of "Buy" and an average price target of $1,261.26.
Get Our Latest Analysis on Micron Technology
Key Micron Technology News
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron CEO Sanjay Mehrotra said demand for AI memory continues to outpace supply, with industry capacity potentially unable to catch up until 2028. He also described memory as increasingly strategic rather than a commodity. Micron CEO sounds alarm on AI memory crunch
- Positive Sentiment: The company is investing $10 billion in Micron Research Labs to develop next-generation AI memory, supporting its long-term positioning in high-bandwidth memory and other advanced products. Micron CEO’s $10 billion AI-memory investment
- Positive Sentiment: Micron opened a 60,000-square-foot Boise training center and expanded its apprenticeship pipeline, supporting its planned U.S. manufacturing expansion and future workforce needs. Micron Boise training center announcement
- Neutral Sentiment: Analyst sentiment remains broadly favorable, with a consensus “Buy” rating and price targets well above recent trading levels. However, these targets may not offset short-term volatility in the memory cycle and semiconductor sector. Micron consensus Buy recommendation
- Negative Sentiment: Reports that Washington may allow Apple to purchase memory from Chinese suppliers raised concerns about potential demand and pricing pressure for Micron and other memory-chip makers. Memory stocks slide on Apple-China sourcing report
- Negative Sentiment: Investors also reacted to the possibility of a major YMTC initial public offering, which could provide China’s memory industry with additional capital to expand competition. Broad semiconductor de-risking and profit-taking ahead of Nvidia’s results added to selling pressure. Micron and the YMTC threat
- Negative Sentiment: Reports of substantial insider selling, including sales by CEO Sanjay Mehrotra, may have further weakened sentiment by encouraging profit-taking after MU’s strong earlier gains. Micron executive share sales
Micron Technology Trading Down 5.8%
NASDAQ:MU opened at $910.43 on Tuesday. The stock has a fifty day moving average price of $963.47 and a two-hundred day moving average price of $701.56. The stock has a market capitalization of $1.03 trillion, a price-to-earnings ratio of 20.61 and a beta of 2.18. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42. Micron Technology, Inc. has a 1 year low of $114.25 and a 1 year high of $1,255.00.
Micron Technology (NASDAQ:MU - Get Free Report) last released its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 EPS for the quarter, beating analysts' consensus estimates of $21.39 by $3.72. The company had revenue of $41.46 billion during the quarter, compared to the consensus estimate of $35.91 billion. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.Micron Technology's quarterly revenue was up 345.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.91 earnings per share. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. As a group, sell-side analysts anticipate that Micron Technology, Inc. will post 72.93 earnings per share for the current fiscal year.
Micron Technology Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 21st. Investors of record on Monday, July 6th were paid a $0.15 dividend. The ex-dividend date was Monday, July 6th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. Micron Technology's dividend payout ratio (DPR) is 1.36%.
About Micron Technology
(
Free Report)
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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