Somerset Trust Co Reduces Stock Position in Micron Technology, Inc. $MU

Key Points

• Somerset Trust Co. cut its Micron stake by 24.5% in the second quarter, selling 2,031 shares and retaining 6,257 shares valued at approximately $7.2 million. Institutional investors collectively own 80.84% of Micron.
• Micron reported a major earnings beat, with quarterly revenue of $41.46 billion and earnings of $25.11 per share, while revenue surged 345.8% year over year. Analysts remain broadly bullish, with a consensus “Buy” rating and an average price target of $1,268.93.
• Investor risks include substantial insider selling, potential future DRAM supply growth from Chinese rival CXMT, and the cyclical nature of memory markets. Shares opened at $829.95, well below their 52-week high of $1,255.

Somerset Trust Co lessened its stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 24.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,257 shares of the semiconductor manufacturer's stock after selling 2,031 shares during the quarter. Micron Technology comprises about 2.0% of Somerset Trust Co's holdings, making the stock its 11th largest holding. Somerset Trust Co's holdings in Micron Technology were worth $7,222,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in MU. Kohmann Bosshard Financial Services LLC purchased a new stake in Micron Technology in the 1st quarter valued at $27,000. High Note Wealth LLC increased its stake in shares of Micron Technology by 65.4% in 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 last quarter. Steigerwald Gordon & Koch Inc. raised its holdings 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 acquiring an additional 96 shares during the period. Bayban purchased a new position in shares of Micron Technology during the 4th quarter worth $29,000. Finally, Financial Life Planners acquired a new position in shares of Micron Technology during the 1st quarter valued at about $36,000. Hedge funds and other institutional investors own 80.84% of the company's stock.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Analysts remain bullish after Micron’s recent earnings beat, citing sharply higher revenue and earnings, strong AI-driven demand for high-bandwidth memory, and long-term customer contracts reportedly worth more than $100 billion. Some estimates suggest Micron could use its projected free cash flow for substantial share repurchases, potentially retiring 8% to 19% of its outstanding shares over two years. Micron: The Math Makes No Sense (Rating Upgrade)
• Positive Sentiment: Several market commentators describe MU as attractively valued following its selloff, while Citi analyst Atif Malik reportedly expects the stock to reach a new record high within 12 months. Jim Cramer also identified Micron as his top memory-stock pick, supporting investor sentiment. Wall Street sets Micron stock price for the next 12 months
• Neutral Sentiment: The broader semiconductor and AI trade is undergoing a pullback after a powerful rally. Analysts generally view Micron’s long-term AI demand outlook as intact, but investors are taking profits and reassessing whether elevated memory prices and AI infrastructure spending can continue. Micron Technology Stock Is Falling Monday: What's Going On?
• Negative Sentiment: Investor concerns intensified after reports that CXMT is considering a second Beijing DRAM plant. A capacity expansion could eventually increase global supply, pressure memory prices, and threaten Micron’s share in standard DRAM products, although the competitive impact may remain several years away. Micron Stock Falls as Chinese Memory Threat Intensifies
• Negative Sentiment: Technical weakness and a decline of roughly one-third from Micron’s 52-week high have added to selling pressure. Investors also remain concerned that historically cyclical memory markets could reverse if high prices curb AI customers’ usage or if the broader AI spending boom slows. What's Wrong With Micron Technology Stock?

Insider Activity

In related news, CEO Sanjay Mehrotra sold 37,439 shares of Micron Technology stock in a transaction that occurred 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 completion of the sale, the chief executive officer owned 387,064 shares in the company, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Scott R. Allen sold 879 shares of the business's stock in a transaction that occurred on Thursday, July 23rd. The shares were sold at an average price of $1,000.00, for a total value of $879,000.00. Following the completion of the sale, the chief accounting officer directly owned 34,958 shares in the company, valued at approximately $34,958,000. The trade was a 2.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 164,179 shares of company stock worth $169,385,921 in the last three months. 0.24% of the stock is currently owned by corporate insiders.

Micron Technology Stock Up 0.8%

Shares of MU opened at $829.95 on Tuesday. The company's 50-day moving average price is $978.49 and its 200 day moving average price is $645.50. Micron Technology, Inc. has a 12-month low of $105.46 and a 12-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 firm has a market cap of $937.33 billion, a P/E ratio of 18.79 and a beta of 2.19.

Micron Technology (NASDAQ:MU - Get Free Report) last announced its earnings results on Wednesday, June 24th. The semiconductor manufacturer reported $25.11 earnings per share for the quarter, topping the consensus estimate of $21.39 by $3.72. Micron Technology had a net margin of 55.91% and a return on equity of 71.13%. The company had revenue of $41.46 billion during the quarter, compared to analyst estimates of $35.91 billion. During the same quarter last year, the firm posted $1.91 earnings per share. Micron Technology's revenue 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. On average, sell-side analysts forecast that Micron Technology, Inc. will post 72.93 earnings per share for the current year.

Micron Technology Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on MU shares. ThinkEquity reissued a "buy" rating on shares of Micron Technology in a report on Monday. Citigroup boosted their target price 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. Rosenblatt Securities increased their price target on shares of Micron Technology from $1,200.00 to $1,500.00 and gave the company a "buy" rating in a research note on Thursday, June 25th. Wolfe Research set a $1,500.00 price target on shares of Micron Technology in a report on Thursday, June 25th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $1,500.00 price target on shares of Micron Technology in a research report on Thursday, June 25th. Four analysts have rated the stock with a Strong Buy rating, thirty-one have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price 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.

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