Micron Technology, Inc. $MU Shares Sold by Platinum Investment Management Ltd.

Key Points

• Platinum Investment Management sharply reduced its Micron stake by 94.7% in Q4, selling 445,371 shares and leaving it with 24,920 shares worth about $7.1 million.
• Analysts remain broadly bullish on Micron, with multiple firms raising price targets and the stock carrying a consensus Buy rating and average target price of $737.63.
• Micron’s recent fundamentals have been strong, with the company beating quarterly EPS and revenue estimates and benefiting from AI-driven demand for memory and storage products.

Platinum Investment Management Ltd. lessened its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 94.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,920 shares of the semiconductor manufacturer's stock after selling 445,371 shares during the quarter. Micron Technology comprises approximately 1.6% of Platinum Investment Management Ltd.'s holdings, making the stock its 11th biggest holding. Platinum Investment Management Ltd.'s holdings in Micron Technology were worth $7,112,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MU. 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 acquiring an additional 34 shares in the last quarter. 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 acquiring an additional 71 shares in the last quarter. 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 acquiring an additional 96 shares in the last quarter. Joseph Group Capital Management acquired a new position in shares of Micron Technology during the 4th quarter valued at $31,000. Finally, Luken Investment Analytics LLC acquired a new position in shares of Micron Technology during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 80.84% of the company's stock.

Key Micron Technology News

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

• Positive Sentiment: AI-driven demand for high-bandwidth memory and NAND storage continues to support Micron’s long-term growth outlook, with analysts citing strong margins and revenue momentum. AI Storage Boom Aids NAND Demand: Can Micron Capitalize on the Trend?
• Positive Sentiment: Wall Street remains broadly upbeat on Micron’s earnings power, with several analysts raising targets and saying the stock still has double-digit upside ahead of earnings. Analysts See Double-Digit Upside in Micron Stock — Should You Buy Before June 24 Earnings?
• Positive Sentiment: Micron is being viewed as a key AI beneficiary, with investors and analysts pointing to HBM demand, institutional buying, and recent certification for Nvidia’s next-gen platform as evidence of stronger secular demand. Nvidia Corp (NVDA) Strengthens AI Platform with Micron HBM4
• Neutral Sentiment: Several pieces frame Micron as a high-momentum AI stock, but these are more commentary than new company-specific catalysts. How to Hold the Next Nvidia Through the Noise
• Negative Sentiment: Goldman Sachs’ cautious stance suggests investors may be pricing in too much optimism before earnings, which can create near-term volatility if results are merely solid rather than exceptional. Why Goldman Is Cautious on Micron Stock Ahead of Earnings
• Negative Sentiment: Some articles note profit-taking after Micron’s explosive rally, with valuation concerns weighing on sentiment despite the strong AI backdrop. Micron stock plunges 12% in a week: why investors are booking profits

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. KeyCorp lifted their target price on shares of Micron Technology from $450.00 to $600.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Wells Fargo & Company lifted their target price on shares of Micron Technology from $550.00 to $1,220.00 and gave the company an "overweight" rating in a report on Monday, June 8th. Wolfe Research lifted their target price on shares of Micron Technology from $550.00 to $1,250.00 and gave the company an "outperform" rating in a report on Thursday. Bank of America lifted their target price on shares of Micron Technology from $400.00 to $500.00 and gave the company a "buy" rating in a report on Thursday, March 19th. Finally, Sanford C. Bernstein lifted their target price on shares of Micron Technology from $330.00 to $510.00 and gave the company an "outperform" rating in a report on Wednesday, March 18th. Five analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $737.63.

Insider Activity

In related news, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the sale, the director 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 SEC, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 37,439 shares of Micron Technology stock in a transaction on Friday, May 29th. The stock was sold at an average price of $960.38, for a total transaction of $35,955,666.82. Following the sale, the chief executive officer directly owned 387,064 shares in the company, valued at $371,728,524.32. This trade represents a 8.82% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 146,000 shares of company stock worth $85,486,715. Corporate insiders own 0.24% of the company's stock.

Micron Technology Stock Performance

Micron Technology stock opened at $981.61 on Friday. Micron Technology, Inc. has a 12-month low of $103.38 and a 12-month high of $1,089.29. The company has a market capitalization of $1.11 trillion, a price-to-earnings ratio of 46.35 and a beta of 2.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The firm's fifty day moving average price is $677.58 and its 200 day moving average price is $463.52.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The firm's quarterly revenue was up 196 on a year-over-year basis. On average, research analysts forecast that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a dividend of $0.15 per share. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Monday, March 30th. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology's payout ratio is presently 2.83%.

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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