Polar Capital Holdings Plc Lowers Stock Position in Micron Technology, Inc. $MU

Polar Capital Holdings Plc lessened its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 39.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,098,037 shares of the semiconductor manufacturer's stock after selling 717,490 shares during the quarter. Micron Technology accounts for about 1.2% of Polar Capital Holdings Plc's holdings, making the stock its 17th biggest holding. Polar Capital Holdings Plc owned approximately 0.10% of Micron Technology worth $313,391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently bought and sold shares of MU. High Note Wealth LLC lifted its position in shares of Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock worth $25,000 after purchasing an additional 34 shares in the last quarter. Elevation Wealth Partners LLC lifted its position in shares of Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock worth $27,000 after purchasing an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of Micron Technology by 4,800.0% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock worth $28,000 after purchasing an additional 96 shares in the last quarter. GHP Investment Advisors Inc. lifted its position in shares of Micron Technology by 91.2% during the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Finally, Joseph Group Capital Management acquired a new stake in shares of Micron Technology during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Micron Technology Stock Down 6.2%

Shares of Micron Technology stock opened at $1,020.76 on Wednesday. Micron Technology, Inc. has a 52-week low of $103.38 and a 52-week high of $1,110.40. The company has a 50 day moving average of $705.11 and a 200 day moving average of $476.85. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $1.15 trillion, a P/E ratio of 48.19 and a beta of 2.16.

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

Insider Activity

In related news, EVP Sumit Sadana sold 24,000 shares of Micron Technology stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the transaction, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the transaction, the executive vice president owned 125,737 shares of the company's stock, valued at $43,679,776.43. This represents a 24.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 146,000 shares of company stock worth $85,486,715 over the last three months. Insiders own 0.24% of the company's stock.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple firms raising price targets and TD Cowen lifting its target to $1,500 on expectations that AI-driven memory demand will keep pricing strong through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: Micron was reported to have been approved to supply HBM4 memory to Nvidia, reinforcing its role as a key AI memory supplier and supporting the long-term growth story. Micron Technology Inc (MU) Gets Nvidia Nod For AI Memory Supply
• Positive Sentiment: Several reports highlighted continued breakout momentum, memory-chip shortages, and strong demand for high-bandwidth memory, all of which have been driving Micron’s recent surge. Stock Of The Day: Did Micron Technology Break Out Again?
• Neutral Sentiment: Micron is approaching its fiscal Q3 earnings report on June 24, and options traders are pricing in a large swing, showing that expectations are elevated and volatility may stay high. Micron (MU) Q3 Earnings on Deck – Options Traders Brace for a 17.6% Price Swing
• Neutral Sentiment: Some analysts and commentary warned the stock is increasingly overbought after its massive year-to-date run, suggesting the latest weakness may reflect a valuation pause rather than a change in fundamentals. Micron stock turns most overbought in 30 years: Time to sell?
• Negative Sentiment: One recent market note said Micron fell more sharply than the broader market in the latest session, indicating some near-term selling pressure and profit-taking after the stock’s huge move higher. Micron (MU) Falls More Steeply Than Broader Market: What Investors Need to Know

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Raymond James Financial increased their price target on shares of Micron Technology from $530.00 to $1,100.00 and gave the stock an "outperform" rating in a research report on Monday, June 1st. Mizuho increased their price target on shares of Micron Technology to $800.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 19th. KeyCorp increased their price target on shares of Micron Technology from $450.00 to $600.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. Needham & Company LLC increased their price target on shares of Micron Technology from $450.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Finally, Bank of America increased their price target on shares of Micron Technology from $400.00 to $500.00 and gave the stock a "buy" rating in a research report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Micron Technology presently has an average rating of "Buy" and an average price target of $788.13.

About Micron Technology

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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