PNC Financial Services Group Inc. Raises Holdings in Micron Technology, Inc. $MU

Key Points

• PNC Financial Services Group increased its Micron Technology stake by 3.5% in Q1, ending with 494,211 shares valued at about $166.96 million.
• Micron continues to draw strong interest from large institutions overall, with hedge funds and other investors owning 80.84% of the company. Several firms, including Vanguard and Norges Bank, also reported sizable positions or increases.
• Micron’s recent operating results and outlook remain strong: it beat quarterly EPS and revenue estimates, and analysts broadly maintain a Buy stance while raising price targets amid optimism about AI-driven memory demand and higher memory prices.

PNC Financial Services Group Inc. lifted its position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 494,211 shares of the semiconductor manufacturer's stock after buying an additional 16,509 shares during the quarter. PNC Financial Services Group Inc.'s holdings in Micron Technology were worth $166,964,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Micron Technology during the 4th quarter valued at about $6,433,456,000. AQR Capital Management LLC lifted its position in shares of Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer's stock worth $606,873,000 after purchasing an additional 2,918,535 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in shares of Micron Technology by 1,340.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer's stock worth $805,148,000 after purchasing an additional 2,625,169 shares during the period. Amundi boosted its stake in shares of Micron Technology by 65.0% during the fourth quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer's stock valued at $1,424,025,000 after purchasing an additional 1,965,319 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer's stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology News Roundup

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

• Positive Sentiment: Bank of America reiterated a bullish view on Micron after the Kimi K3 launch, arguing that low-cost AI models can actually increase memory-chip demand rather than reduce it. Bank of America Reaffirms Bullish Micron Stock Call After Kimi K3 Launch
• Positive Sentiment: Multiple reports said Micron jumped after BofA’s note and a broader chip rebound, with analysts also raising price targets as the AI memory upcycle gains traction. Micron jumps 12% on BofA note, chip rally
• Positive Sentiment: Memory prices are reportedly still skyrocketing, with Morgan Stanley forecasting at least a 25% increase from Q2 to Q3, which supports higher revenue and margins for Micron. Micron, Western Digital, and Sandisk Just Jumped 12% to 14%. Here's the Forecast That Did It.
• Positive Sentiment: Wall Street commentary remains constructive on AI infrastructure names, with Micron highlighted as a beneficiary of strong revenue growth, expanding profitability, and the ongoing AI spending cycle. 2 AI Infrastructure Stocks That Could Outperform NVIDIA
• Neutral Sentiment: Several articles framed Micron as part of a broader “Memi” trade and a continued semiconductor rebound, reinforcing the AI-memory narrative but not adding much company-specific news. A new group of stocks is transforming global equities markets. Meet ‘Memi,’ the $3 trillion sector fueled by AI’s insatiable hunger for memory chips
• Neutral Sentiment: Bearish takes also emerged, including one arguing Micron could be a “generational short” with substantial downside, which may be tempering some enthusiasm after the recent run-up. Micron: A Generational Short Opportunity With 76% Downside

Analyst Upgrades and Downgrades

MU has been the topic of several research reports. Citigroup lifted their price objective on shares of Micron Technology from $1,200.00 to $1,400.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Melius Research started coverage on Micron Technology in a research report on Monday, April 27th. They set a "buy" rating and a $700.00 target price on the stock. TD Cowen reiterated a "buy" rating on shares of Micron Technology in a report on Friday, July 10th. Wolfe Research set a $1,500.00 price target on Micron Technology in a report on Thursday, June 25th. Finally, Needham & Company LLC boosted their price target on Micron Technology from $1,550.00 to $1,650.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Four investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Buy" and an average target price of $1,268.93.

Insider Transactions at Micron Technology

In other Micron Technology news, Director Lynn A. Dugle sold 1,300 shares of the business's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $1,150.43, for a total transaction of $1,495,559.00. Following the sale, the director owned 17,728 shares in the company, valued at approximately $20,394,823.04. The trade was a 6.83% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the completion of the transaction, the executive vice president directly owned 85,737 shares in the company, valued at $92,933,763.78. This represents a 31.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 163,300 shares of company stock worth $152,667,204. Insiders own 0.24% of the company's stock.

Micron Technology Stock Down 1.2%

NASDAQ:MU opened at $959.48 on Thursday. The company has a market cap of $1.08 trillion, a PE ratio of 21.72 and a beta of 2.14. Micron Technology, Inc. has a twelve month low of $103.38 and a twelve month high of $1,255.00. The company has a current ratio of 3.42, a quick ratio of 2.98 and a debt-to-equity ratio of 0.05. The company's 50 day moving average is $958.06 and its two-hundred day moving average is $615.70.

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, beating analysts' consensus estimates of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The business had revenue of $41.46 billion for the quarter, compared to analyst estimates of $35.91 billion. During the same quarter in the prior year, the business posted $1.91 EPS. Micron Technology's revenue for the quarter was up 345.8% compared to the same quarter last year. Micron Technology has set its Q4 2026 guidance at 30.000-32.000 EPS. Analysts anticipate that Micron Technology, Inc. will post 72.93 EPS for the current year.

Micron Technology Announces Dividend

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

Micron Technology Company 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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