Palouse Capital Management Inc. Sells 6,395 Shares of Micron Technology, Inc. $MU

Key Points

• Palouse Capital Management cut its Micron stake by 67.1% in the second quarter, selling 6,395 shares and retaining 3,133 shares worth approximately $3.6 million. Institutional investors own about 80.84% of Micron.
• Micron reported quarterly results well above expectations, including $25.11 in EPS and $41.46 billion in revenue, up 345.8% year over year. Strong AI-related high-bandwidth memory demand and upbeat fourth-quarter guidance continue to support the growth outlook.
• MU opened at $881.47, down 1.3%, while analysts maintained a broadly bullish view with a consensus “Buy” rating and an average price target of $1,268.93. Company insiders, including the CEO and an executive vice president, sold a combined 164,179 shares worth about $169.4 million over the last quarter.

Palouse Capital Management Inc. trimmed its holdings in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 67.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,133 shares of the semiconductor manufacturer's stock after selling 6,395 shares during the quarter. Micron Technology accounts for about 2.3% of Palouse Capital Management Inc.'s holdings, making the stock its 19th largest position. Palouse Capital Management Inc.'s holdings in Micron Technology were worth $3,616,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. High Note Wealth LLC grew its stake in Micron Technology by 65.4% in the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock valued at $25,000 after purchasing an additional 34 shares during the period. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Micron Technology during the 1st quarter valued at $27,000. Steigerwald Gordon & Koch Inc. raised its stake 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 period. Bayban bought a new stake in shares of Micron Technology during the 4th quarter worth $29,000. Finally, GHP Investment Advisors Inc. boosted its holdings in shares of Micron Technology by 91.2% in the 4th quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock worth $31,000 after buying an additional 52 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors.

Key Micron Technology News

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

• Positive Sentiment: Micron remains a favored growth stock because its fiscal third-quarter results were well above expectations, with $41.5 billion in revenue, $25.11 in adjusted EPS and revenue growth of more than 345% year over year. The company also issued strong fourth-quarter guidance. Micron & 2 Profitable Stocks Smart Investors Are Buying in August
• Positive Sentiment: AI infrastructure demand continues to support Micron’s high-bandwidth memory business. Industry commentary indicates that memory demand may exceed global supply for several years, while Micron’s 2026 HBM output is reportedly sold out and customer agreements provide additional revenue visibility. How SpaceX’s Earnings Call Turned Bullish for Memory Stocks
• Positive Sentiment: Several analysts and financial publications view MU as attractively valued after its pullback, with reported price targets materially above the current trading level. Record cash flow could also support share repurchases across the memory industry. Micron Is an Incredible Bargain Below $1,000

Insiders Place Their Bets

In other news, CEO Sanjay Mehrotra sold 37,439 shares of the stock in a transaction on Friday, May 29th. The shares were sold at an average price of $960.38, for a total value of $35,955,666.82. Following the transaction, the chief executive officer owned 387,064 shares of the company's stock, valued at $371,728,524.32. This represents a 8.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP April S. Arnzen sold 40,000 shares of the firm's stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $1,083.94, for a total transaction of $43,357,600.00. Following the sale, the executive vice president owned 85,737 shares in the company, valued at approximately $92,933,763.78. This trade represents a 31.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 164,179 shares of company stock worth $169,385,921. 0.24% of the stock is owned by corporate insiders.

Micron Technology Stock Down 1.3%

MU stock opened at $881.47 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.98 and a current ratio of 3.42. The company has a market capitalization of $995.52 billion, a price-to-earnings ratio of 19.96 and a beta of 2.18. Micron Technology, Inc. has a fifty-two week low of $110.79 and a fifty-two week high of $1,255.00. The stock has a fifty day moving average of $976.89 and a 200-day moving average of $657.02.

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

Micron Technology Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on MU. Cantor Fitzgerald restated an "overweight" rating and set a $1,500.00 price target on shares of Micron Technology in a research report on Thursday, June 25th. Wells Fargo & Company lifted their price objective on shares of Micron Technology from $1,220.00 to $1,525.00 and gave the stock an "overweight" rating in a research report on Thursday, June 25th. Rosenblatt Securities lifted their price objective on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Wolfe Research set a $1,500.00 target price on shares of Micron Technology in a research note on Thursday, June 25th. Finally, Susquehanna increased their target price on shares of Micron Technology from $1,750.00 to $2,000.00 and gave the company a "positive" rating in a research report on Thursday, June 25th. Four research analysts have rated the stock with a Strong Buy rating, thirty-one have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Micron Technology currently has an average rating of "Buy" and a consensus price target of $1,268.93.

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source