Talos Eurisko Asset Management LP Buys Shares of 79,891 Micron Technology, Inc. $MU

Key Points

• Talos Eurisko Asset Management opened a new position in Micron Technology, buying 79,891 shares worth about $22.8 million. The stake now represents roughly 4.0% of the fund’s portfolio, making Micron its 7th-largest holding.
• Wall Street sentiment on Micron remains broadly bullish, with multiple firms raising price targets on the back of AI-driven memory demand and a stronger memory cycle. TD Cowen was especially aggressive, lifting its target to $1,500 and reiterating a buy rating.
• Micron recently posted a strong quarter, beating expectations with $12.20 EPS on $23.86 billion in revenue, while also raising its quarterly dividend to $0.15 per share. Despite the upbeat fundamentals, the stock has surged sharply and some analysts and traders are warning it may be overextended.

Talos Eurisko Asset Management LP bought a new stake in Micron Technology, Inc. (NASDAQ:MU - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 79,891 shares of the semiconductor manufacturer's stock, valued at approximately $22,802,000. Micron Technology comprises approximately 4.0% of Talos Eurisko Asset Management LP's portfolio, making the stock its 7th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. 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 acquiring an additional 34 shares during the last quarter. Elevation Wealth Partners LLC boosted its stake 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. Steigerwald Gordon & Koch Inc. boosted its stake in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer's stock valued at $28,000 after acquiring an additional 96 shares during the last quarter. GHP Investment Advisors Inc. boosted its stake in Micron Technology by 91.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer's stock valued at $31,000 after acquiring an additional 52 shares during the last quarter. Finally, Joseph Group Capital Management purchased a new position in Micron Technology in the fourth quarter valued at about $31,000. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: TD Cowen raised its price target on Micron to $1,500 from $660 and reiterated a buy rating, saying AI-driven memory demand could support pricing strength through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: RBC also lifted its Micron target, citing a stronger memory cycle and AI demand, while other firms including Wolfe Research and Cantor Fitzgerald have recently posted bullish targets, reinforcing the optimistic Wall Street backdrop. Micron Price Target Raised at RBC on Stronger Memory Cycle, AI Demand
• Positive Sentiment: Investors are betting that AI infrastructure spending and memory shortages will keep Micron’s pricing power elevated, with multiple reports describing the stock as a beneficiary of a broader semiconductor and storage rally. Micron Stock Wins Over the Crowd Ahead of Q3 Earnings
• Neutral Sentiment: Some commentary warns that the stock is becoming stretched after a huge run, with articles highlighting overbought signals and cycle-risk concerns ahead of earnings. Micron: AI's Memory King Still Can't Escape The Cycle
• Negative Sentiment: Bearish takes note that Micron is already pricing in a lot of good news, and options activity suggests traders are hedging against volatility or a potential post-earnings pullback. Micron: Why Option Market Prices Key Risks Differently

Wall Street Analyst Weigh In

MU has been the topic of a number of recent research reports. Weiss Ratings restated a "buy (b)" rating on shares of Micron Technology in a research note on Tuesday, May 12th. JPMorgan Chase & Co. upped their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an "overweight" rating in a research note on Thursday, March 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Micron Technology from $500.00 to $550.00 and gave the company a "buy" rating in a research note on Thursday, March 19th. Citigroup upped their price target on shares of Micron Technology from $425.00 to $840.00 and gave the company a "buy" rating in a research note on Tuesday, May 19th. Finally, Summit Insights cut shares of Micron Technology from a "buy" rating to a "hold" rating in a research note on Thursday, March 19th. Five analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $788.13.

Insider Activity

In related news, Director Steven J. Gomo sold 2,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were 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 of the company's stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of the company's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the sale, the executive vice president directly owned 224,021 shares in the company, valued at $94,391,248.35. This trade represents a 9.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 146,000 shares of company stock worth $85,486,715. Insiders own 0.24% of the company's stock.

Micron Technology Stock Performance

Micron Technology stock opened at $1,087.99 on Tuesday. The firm's 50 day simple moving average is $692.02 and its 200 day simple moving average is $471.28. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.23 trillion, a PE ratio of 51.37 and a beta of 2.15. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,097.47.

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

Micron Technology Increases Dividend

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

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.

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.