Micron Technology, Inc. $MU Stake Trimmed by Totem Point Management LLC

Key Points

• Totem Point Management cut its Micron stake by 41.1% in the fourth quarter, though the stock still represented nearly 9.8% of its portfolio at the time.
• Wall Street remains very bullish on Micron, with multiple firms sharply raising price targets and the consensus rating sitting at Buy with a consensus target of $788.13.
• Micron’s latest earnings showed strong outperformance, as it beat EPS and revenue estimates, and recent commentary points to continued demand strength from AI-related memory products like DRAM and HBM.

Totem Point Management LLC lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 41.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 34,453 shares of the semiconductor manufacturer's stock after selling 24,030 shares during the period. Micron Technology accounts for approximately 9.8% of Totem Point Management LLC's portfolio, making the stock its 6th biggest position. Totem Point Management LLC's holdings in Micron Technology were worth $9,833,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MU. High Note Wealth LLC raised 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 worth $25,000 after acquiring an additional 34 shares during the period. Elevation Wealth Partners LLC raised 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 worth $27,000 after acquiring an additional 71 shares during the period. Steigerwald Gordon & Koch Inc. increased its position 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 worth $28,000 after purchasing an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in shares of Micron Technology by 91.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock valued at $31,000 after purchasing an additional 52 shares during the period. Finally, Joseph Group Capital Management purchased a new position in shares of Micron Technology in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Morgan Stanley boosted their price objective on Micron Technology from $520.00 to $1,050.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 3rd. Barclays upped their target price on Micron Technology from $450.00 to $675.00 and gave the company an "overweight" rating in a report on Thursday, March 19th. Royal Bank Of Canada increased their price objective on Micron Technology from $525.00 to $1,200.00 and gave the company an "outperform" rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on Micron Technology from $350.00 to $550.00 and gave the stock an "overweight" rating in a research note on Thursday, March 19th. Finally, Wells Fargo & Company raised their target price on Micron Technology from $550.00 to $1,220.00 and gave the company an "overweight" rating in a report on Monday, June 8th. Five equities research 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 stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $788.13.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 40,000 shares of the business'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 sale, the executive vice president owned 125,737 shares of the company's stock, valued at approximately $43,679,776.43. The trade was a 24.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total value of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares in the company, valued at $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 146,000 shares of company stock worth $85,486,715. Insiders own 0.24% of the company's stock.

Micron Technology Trading Down 6.2%

NASDAQ:MU opened at $1,020.76 on Wednesday. Micron Technology, Inc. has a 12-month low of $103.38 and a 12-month high of $1,110.40. The firm has a market capitalization of $1.15 trillion, a P/E ratio of 48.19 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 business has a 50 day simple moving average of $705.11 and a 200 day simple moving average of $476.85.

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 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 business had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. During the same quarter in the previous year, the firm posted $1.56 EPS. The business's revenue for the quarter was up 196 compared to the same quarter last year. Equities research analysts predict that Micron Technology, Inc. will post 59.23 EPS for the current year.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: TD Cowen and other analysts raised price targets sharply, with several firms arguing that AI-driven memory demand could support pricing strength into 2027 and leave significant upside even after Micron’s huge run. Article Title
• Positive Sentiment: Micron is benefiting from strong demand for DRAM, NAND, HBM, and enterprise SSDs, with commentary pointing to a persistent supply-demand imbalance and better-than-expected earnings over the next two fiscal years. Article Title
• Positive Sentiment: Recent news that Micron has been approved to supply HBM4 memory for AI applications reinforced its role as a key beneficiary of the AI infrastructure buildout. Article Title
• Positive Sentiment: Several pieces highlighted Micron’s breakout momentum and argued the stock could still have meaningful upside, with Wall Street targets ranging as high as $1,500 on expectations for strong gross margins and buybacks. Article Title
• Neutral Sentiment: Investors are watching Micron’s fiscal Q3 earnings due June 24, which could be a major catalyst either confirming or cooling the stock’s recent momentum. Article Title
• Negative Sentiment: Some commentary warned that Micron’s rally has been extremely extended and that the stock may be overbought, with peak-cycle risk and a potential slowdown in growth still on the radar. Article Title

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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