Summitry LLC Sells 2,487 Shares of Micron Technology, Inc. $MU

Key Points

• Summitry LLC cut its Micron Technology stake by 70% in the fourth quarter, selling 2,487 shares and leaving it with 1,066 shares valued at about $304,000.
• Several other institutional investors also adjusted positions, while 80.84% of Micron’s stock remains owned by hedge funds and other institutions, signaling heavy professional ownership.
• Analysts remain bullish on Micron amid strong AI-memory demand: ratings are mostly Buy/Strong Buy, with a consensus Buy and an average price target of $571.47.

Summitry LLC lowered its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 70.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,066 shares of the semiconductor manufacturer's stock after selling 2,487 shares during the period. Summitry LLC's holdings in Micron Technology were worth $304,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MU. Manning & Napier Advisors LLC boosted its position in Micron Technology by 2.4% in the fourth quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer's stock valued at $301,000 after buying an additional 24 shares during the last quarter. Round Rock Advisors LLC boosted its position in Micron Technology by 0.6% in the fourth quarter. Round Rock Advisors LLC now owns 4,333 shares of the semiconductor manufacturer's stock valued at $1,237,000 after buying an additional 25 shares during the last quarter. Arlington Trust Co LLC boosted its position in Micron Technology by 26.3% in the fourth quarter. Arlington Trust Co LLC now owns 120 shares of the semiconductor manufacturer's stock valued at $34,000 after buying an additional 25 shares during the last quarter. Manuka Financial LLC boosted its position in Micron Technology by 2.3% in the fourth quarter. Manuka Financial LLC now owns 1,243 shares of the semiconductor manufacturer's stock valued at $355,000 after buying an additional 28 shares during the last quarter. Finally, Valued Wealth Advisors LLC lifted its position in Micron Technology by 20.9% during the fourth quarter. Valued Wealth Advisors LLC now owns 168 shares of the semiconductor manufacturer's stock valued at $48,000 after purchasing an additional 29 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP April S. Arnzen sold 40,000 shares of the 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 transaction, the executive vice president owned 125,737 shares in the company, valued at $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares in the company, valued at $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. Over the last quarter, insiders have sold 106,000 shares of company stock worth $47,032,460. Corporate insiders own 0.24% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MU. Wedbush boosted their target price on shares of Micron Technology from $320.00 to $500.00 and gave the company an "outperform" rating in a research report on Friday, March 13th. The Goldman Sachs Group increased their price target on Micron Technology from $360.00 to $400.00 and gave the stock a "neutral" rating in a research report on Thursday, March 19th. Wells Fargo & Company increased their price target on Micron Technology from $470.00 to $550.00 and gave the stock an "overweight" rating in a research report on Thursday, March 19th. DA Davidson started coverage on Micron Technology in a research report on Monday, May 11th. They set a "buy" rating and a $1,000.00 price target on the stock. Finally, Barclays reaffirmed an "overweight" rating and set a $1,175.00 price target on shares of Micron Technology in a research report on Wednesday. Five 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $571.47.

Micron Technology Trading Up 19.3%

Micron Technology stock opened at $895.88 on Wednesday. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. Micron Technology, Inc. has a 12 month low of $92.22 and a 12 month high of $916.80. The stock's 50 day simple moving average is $528.34 and its two-hundred day simple moving average is $397.68. The firm has a market cap of $1.01 trillion, a PE ratio of 42.30 and a beta of 1.91.

Micron Technology (NASDAQ:MU - Get Free Report) last released its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same quarter in the prior year, the firm posted $1.56 EPS. The business's quarterly revenue was up 196 compared to the same quarter last year. Analysts anticipate that Micron Technology, Inc. will post 57.82 earnings per share for the current year.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were given a dividend of $0.15 per share. This is a positive change from Micron Technology's previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology's payout ratio is 2.83%.

Micron Technology News Roundup

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

• Positive Sentiment: UBS more than tripled its price target on Micron, calling out stronger AI demand and long-term supply deals, which sparked a major re-rating of the stock. Micron closes in on $1 trillion market value as UBS triples share price target
• Positive Sentiment: Analysts say the AI memory boom is still in its early stages, with Micron benefiting from structural shortages and multi-year demand tied to data center buildouts. Micron Stock (MU): This Top Analyst Says the AI Memory Boom Is Just Getting Started
• Positive Sentiment: Micron’s move above a $1 trillion valuation and its strong momentum are drawing more institutional attention and boosting sentiment across the semiconductor sector. Micron hits $1 trillion market cap for the first time as stock surges 18%
• Neutral Sentiment: Commentary around President Trump’s praise of Micron added to the buzz, but most articles suggest the real catalyst is the UBS upgrade and AI-driven fundamentals rather than politics. Donald Trump said 'Micron's great'—3 days later MU stock crosses 1 trillion in market cap
• Neutral Sentiment: Micron’s Virginia DRAM manufacturing launch and expanded U.S. production support the long-term domestic supply story, but this appears secondary to the current rally. Micron Expands U.S. Memory Production With Virginia DRAM Launch

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.