Summit Global Investments Sells 11,782 Shares of Micron Technology, Inc. $MU

Key Points

• Summit Global Investments cut its Micron stake by 34.1% in Q1, selling 11,782 shares and leaving it with 22,803 shares worth about $7.7 million.
• Micron also saw notable insider selling, including 40,000 shares sold each by EVP April S. Arnzen and CEO Sanjay Mehrotra, while insiders sold 163,300 shares in the last quarter overall.
• The company posted a strong quarter, beating estimates with EPS of $25.11 and revenue of $41.46 billion, and analysts remain broadly bullish with a consensus Buy rating and a $1,268.93 price target.

Summit Global Investments lessened its holdings in Micron Technology, Inc. (NASDAQ:MU - Free Report) by 34.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,803 shares of the semiconductor manufacturer's stock after selling 11,782 shares during the quarter. Summit Global Investments' holdings in Micron Technology were worth $7,704,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. High Note Wealth LLC boosted its stake in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer's stock valued at $25,000 after buying an additional 34 shares in the last quarter. Elevation Wealth Partners LLC grew its position in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer's stock valued at $27,000 after acquiring an additional 71 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Micron Technology during the first quarter worth about $27,000. Steigerwald Gordon & Koch Inc. raised its stake in 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 acquiring an additional 96 shares in the last quarter. Finally, Bayban bought a new position in shares of Micron Technology in the fourth quarter worth about $29,000. Institutional investors own 80.84% of the company's stock.

Insider Buying and Selling at Micron Technology

In other news, 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 completion of the transaction, the executive vice president owned 85,737 shares of the company's stock, valued at approximately $92,933,763.78. This trade represents a 31.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 163,300 shares of company stock valued at $152,667,204. Insiders own 0.24% of the company's stock.

Micron Technology Stock Performance

NASDAQ:MU opened at $865.46 on Tuesday. The stock has a market cap of $977.44 billion, a P/E ratio of 19.59 and a beta of 2.14. 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 stock's 50-day moving average is $950.86 and its 200-day moving average is $606.14. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,255.00.

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

Micron Technology Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on MU shares. Erste Group Bank upgraded shares of Micron Technology from a "hold" rating to a "buy" rating in a research note on Thursday, June 25th. Melius Research assumed coverage on shares of Micron Technology in a research report on Monday, April 27th. They set a "buy" rating and a $700.00 price objective for the company. TD Cowen reissued a "buy" rating on shares of Micron Technology in a research note on Friday, July 10th. Citigroup raised 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 research report on Thursday, June 25th. Finally, Wells Fargo & Company boosted their target price on shares of Micron Technology from $1,220.00 to $1,525.00 and gave the stock an "overweight" rating in a research note on Thursday, June 25th. Four analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $1,268.93.

More Micron Technology News

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

• Positive Sentiment: Micron is being highlighted as a strong AI chip and memory beneficiary, with several bullish articles pointing to durable demand, strong profitability, and attractive valuation after the recent pullback. NVIDIA & Micron: 2 Profitable AI Stocks With Strong Growth Potential
• Positive Sentiment: Morgan Stanley and other analysts said the selloff in memory stocks created a strong buying opportunity, arguing that data-center memory shortages are still intensifying. The Memory Stock Sell-Off Created a ‘Strong Entry Point,' Says Morgan Stanley. Investors Are Buying In.
• Positive Sentiment: Shares of Micron, SanDisk, and Western Digital rebounded as investors rotated back into semiconductor names after last week’s sharp drop in AI-related stocks. Micron Jumps 5%, SanDisk Rises 6%, Western Digital Climbs 4% as Memory Stocks Rebound With Chips
• Positive Sentiment: A Seeking Alpha upgrade argued Micron’s business model and large backlog could drive EPS accretion and multiple expansion through FY2027. Micron: Berkshire-ification Against The Possible Greenfield Margin Squeeze (Upgrade)
• Neutral Sentiment: Some coverage noted large institutional call buying and speculative dip-buying in Micron, which can support short-term trading sentiment but does not change the company’s fundamentals. The Ugliest Stocks in the Market Just Got a Very Expensive Vote of Confidence (MU)
• Neutral Sentiment: Several articles focused on Micron’s broader role in the AI trade and memory shortage, reinforcing that the stock remains highly sensitive to swings in semiconductor sentiment. Micron, Lumentum, Sweetgreen, AMC, Domino’s, and More Stocks That Explain Today’s Market
• Negative Sentiment: Michael Burry’s short position and warning that Micron is “cyclical like no other” added caution around the stock’s valuation and the risk of a deeper AI-chip correction. Claude AI Says Michael Burry’s Micron (MU) Warning “Deserves Respect”
• Negative Sentiment: Bearish commentary also warned that semiconductor and technology stocks could still face another leg down if the recent AI trade unwind continues. Expect a 75% technology stocks wipeout, warns strategist
• Negative Sentiment: Micron has also been under pressure recently after SK Hynix’s memory-price warning sparked debate over how long tight supply can last, contributing to the prior selloff. Micron Stock Set to Snap Losing Streak After SK Hynix Memory Price Warning

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.

Want to see what other hedge funds are holding MU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Micron Technology, Inc. (NASDAQ:MU - Free Report).

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.