Micron Technology, Inc. $MU Stock Position Cut by Steamboat Capital Partners LLC

Key Points

• Steamboat Capital Partners cut its Micron stake by 49.1% in the second quarter, selling 16,194 shares and retaining 16,806 shares worth about $19.4 million. Institutional investors collectively own 80.84% of Micron.
• Micron’s outlook is supported by tight DRAM supply, strong high-bandwidth memory demand and planned capacity expansion, while analysts expect strong earnings and maintain a consensus “Buy” rating. However, concerns over slower AI spending, potential competition and changing memory requirements pose risks.
• Micron reported quarterly revenue of $41.46 billion and EPS of $25.11, exceeding analyst estimates, though recent insider selling included CEO Sanjay Mehrotra’s sale of 40,000 shares. The stock opened at $924.03, well below its 12-month high of $1,255.

Steamboat Capital Partners LLC lessened its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 49.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,806 shares of the semiconductor manufacturer's stock after selling 16,194 shares during the quarter. Micron Technology makes up 4.1% of Steamboat Capital Partners LLC's holdings, making the stock its 4th biggest position. Steamboat Capital Partners LLC's holdings in Micron Technology were worth $19,399,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. California State Teachers Retirement System grew its position in shares of Micron Technology by 115,924.6% during the 2nd quarter. California State Teachers Retirement System now owns 1,977,753,560 shares of the semiconductor manufacturer's stock valued at $2,282,901,157,000 after acquiring an additional 1,976,048,961 shares during the period. Andar Capital Management HK Ltd increased its stake in shares of Micron Technology by 856,960.3% in the 2nd quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer's stock valued at $39,571,847,000 after purchasing an additional 34,278,413 shares in the last quarter. Norges Bank acquired a new position in Micron Technology in the 4th quarter worth about $6,433,456,000. Primecap Management Co. CA acquired a new position in Micron Technology in the 2nd quarter worth about $22,182,263,000. Finally, Bank of America Corp DE boosted its position in Micron Technology by 26.6% during the second quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer's stock worth $11,744,621,000 after purchasing an additional 2,136,470 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology News Summary

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

• Positive Sentiment: Micron’s long-term outlook remains supported by tight DRAM supply, strong HBM demand, and planned expansion of DRAM and HBM manufacturing capacity. Long-term customer agreements could support pricing and growth through 2027 and beyond. Micron Has More Firepower Left in Its Cylinder for the Long Term
• Positive Sentiment: Investors are looking ahead to Micron’s September 30 earnings report, with expectations for continued record DRAM and NAND pricing, strong results, and optimistic forward guidance. Prediction: Micron’s Sept. 30 Earnings Will Confirm the Memory Shortage Isn’t Over
• Neutral Sentiment: Technical analysts are monitoring a closely watched support level after the stock’s decline. A break below that level could signal additional near-term weakness, while stabilization could allow investors to refocus on Micron’s earnings and HBM expansion plans. Micron Stock Sends Urgent Signal as Shares Slide
• Negative Sentiment: Shares declined with other AI-related semiconductor stocks after Anthropic and OpenAI executives called for a slower pace of AI development. Investors fear that a moderation in AI spending could reduce demand expectations for memory chips and weaken the premium valuation assigned to HBM suppliers. Memory Stocks Lead AI Selloff
• Negative Sentiment: Additional risks include the possibility that Nvidia develops chips requiring less expensive memory, while Samsung and SK Hynix gain HBM market share. A report that DeepSeek materially reduced its HBM and SSD requirements has also challenged the assumption that AI usage will translate directly into proportional memory demand. DeepSeek Cut Its KV-Cache HBM Need
• Negative Sentiment: Potentially higher interest rates are adding pressure to high-growth technology stocks and amplifying the sector-wide selloff. Dow Jones Futures: Nvidia, Micron, Sandisk Dive on AI Fears

Analyst Ratings Changes

Several analysts have commented on the company. Zacks Research lowered Micron Technology from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,500.00 target price on shares of Micron Technology in a research note on Thursday, June 25th. Wells Fargo & Company increased their target price on Micron Technology from $1,220.00 to $1,525.00 and gave the company an "overweight" rating in a research report on Thursday, June 25th. DA Davidson lifted their price target on shares of Micron Technology from $1,500.00 to $2,000.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Finally, Sanford C. Bernstein set a $1,300.00 price target on shares of Micron Technology in a report on Monday, June 22nd. Four analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Micron Technology currently has an average rating of "Buy" and a consensus target price of $1,295.63.

Micron Technology Price Performance

Shares of Micron Technology stock opened at $924.03 on Tuesday. The stock has a market capitalization of $1.04 trillion, a P/E ratio of 20.92, a PEG ratio of 0.62 and a beta of 2.22. The business has a 50 day simple moving average of $928.22 and a two-hundred day simple moving average of $760.84. Micron Technology, Inc. has a 12 month low of $154.65 and a 12 month high of $1,255.00. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.42 and a quick ratio of 2.98.

Micron Technology (NASDAQ:MU - Get Free Report) last issued its quarterly earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $21.39 by $3.72. Micron Technology had a return on equity of 71.13% and a net margin of 55.91%.The firm had revenue of $41.46 billion for the quarter, compared to analyst estimates of $35.91 billion. During the same period in the previous year, the company posted $1.91 earnings per share. The business's revenue was up 345.8% on a year-over-year basis. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. As a group, analysts predict that Micron Technology, Inc. will post 72.93 EPS for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Shareholders of record on Monday, July 6th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, July 6th. Micron Technology's payout ratio is 1.36%.

Insider Activity at Micron Technology

In other news, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction on Friday, August 21st. The shares were sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the completion of the sale, the chief executive officer owned 264,503 shares of the company's stock, valued at $256,276,956.70. This represents a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Sumit Sadana sold 15,000 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the completion of the sale, the executive vice president owned 191,021 shares of the company's stock, valued at $178,469,010.09. This trade represents a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 177,204 shares of company stock worth $182,156,264 over the last 90 days. Corporate insiders own 0.24% of the company's stock.

About Micron Technology

Micron Technology, Inc is a global semiconductor company that designs, develops, manufactures and sells memory and storage solutions. Its product portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules and high-bandwidth memory used in data-intensive computing applications.

Micron's products support a range of markets, including data centers, artificial intelligence and high-performance computing, personal computers, smartphones, automotive systems, industrial equipment and networking devices.

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