Summit Wealth Partners LLC Takes $518,000 Position in Micron Technology, Inc. $MU

Key Points

• Summit Wealth Partners LLC opened a new position in Micron Technology during the first quarter, buying 1,535 shares valued at about $518,000.
• Institutional ownership remains heavy, with several funds recently increasing their stakes; the article notes that 80.84% of Micron’s stock is held by institutional investors.
• Analysts and recent news remain bullish on Micron, with multiple price-target hikes tied to AI-driven memory demand and a strategic supply/investment deal with Anthropic, though some commentary warns the stock may already have priced in much of the good news.

Summit Wealth Partners LLC bought a new position in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,535 shares of the semiconductor manufacturer's stock, valued at approximately $518,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Heritage Trust Co lifted its position in Micron Technology by 9.7% during the fourth quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer's stock worth $4,289,000 after acquiring an additional 1,323 shares during the last quarter. Westpac Banking Corp grew its position in shares of Micron Technology by 251.0% in the third quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer's stock valued at $3,863,000 after purchasing an additional 16,509 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Micron Technology by 19.9% in the third quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer's stock valued at $1,196,427,000 after purchasing an additional 1,188,296 shares during the last quarter. Fulton Bank N.A. increased its stake in shares of Micron Technology by 79.1% during the fourth quarter. Fulton Bank N.A. now owns 16,183 shares of the semiconductor manufacturer's stock worth $4,619,000 after purchasing an additional 7,147 shares during the period. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in shares of Micron Technology during the fourth quarter worth approximately $1,316,000. 80.84% of the stock is owned by institutional investors.

More Micron Technology News

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

• Positive Sentiment: Micron announced a strategic deal with Anthropic that includes memory and storage supply commitments, AI infrastructure design work, enterprise adoption of Claude, and an investment in Anthropic’s latest funding round, reinforcing Micron’s role in the AI buildout. Reuters article
• Positive Sentiment: Wall Street analysts lifted price targets ahead of earnings, including Needham’s increase to $1,550, as expectations build for sharp revenue and profit growth from AI-driven memory demand. Benzinga article
• Positive Sentiment: Momentum remains strong into the report, with Micron hitting new highs as traders position for a potentially large post-earnings move and cite continued tightness in high-bandwidth memory supply. TipRanks article
• Neutral Sentiment: Several previews say expectations are extremely high, with consensus calling for roughly quadrupled revenue and major EPS growth, which supports the stock but also leaves room for volatility if results disappoint. Invezz article
• Negative Sentiment: Some commentary warns that Micron’s rally has already priced in a lot of good news, and one analyst noted memory-chip gains may not keep rising forever amid eventual competitive pressure from China. Barron’s article

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the company's stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the sale, the chief executive officer owned 424,503 shares of the company's stock, valued at $227,643,978.78. This represents a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the sale, the director owned 17,139 shares in the company, valued at $13,488,907.17. The trade was a 10.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 146,000 shares of company stock worth $85,486,715 over the last three months. Company insiders own 0.24% of the company's stock.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $1,211.38 on Tuesday. The stock has a market capitalization of $1.37 trillion, a PE ratio of 57.19 and a beta of 2.15. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32. The business has a fifty day moving average price of $763.89 and a two-hundred day moving average price of $502.03. Micron Technology, Inc. has a fifty-two week low of $103.38 and a fifty-two week high of $1,213.56.

Analyst Ratings Changes

MU has been the subject of several recent research reports. Rosenblatt Securities boosted their price target on Micron Technology from $600.00 to $1,200.00 and gave the company a "buy" rating in a research note on Thursday. Weiss Ratings reissued a "buy (b)" rating on shares of Micron Technology in a report on Tuesday, May 12th. Stifel Nicolaus boosted their target price on shares of Micron Technology from $550.00 to $1,500.00 and gave the company a "buy" rating in a research report on Thursday. Wells Fargo & Company upped their price target on shares of Micron Technology from $550.00 to $1,220.00 and gave the company an "overweight" rating in a research note on Monday, June 8th. Finally, Needham & Company LLC raised their price target on shares of Micron Technology from $500.00 to $1,550.00 and gave the stock a "buy" rating in a research report on Monday. Five research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $974.80.

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.