Westpac Banking Corp Has $5.05 Million Stock Position in Micron Technology, Inc. $MU

Key Points

• Westpac Banking Corp cut its Micron stake by 20% in the first quarter, selling 3,743 shares and ending with 14,957 shares valued at about $5.05 million.
• Micron reported a strong fiscal quarter with EPS of $25.11 and revenue of $41.46 billion, both well above analyst estimates. The company also issued upbeat Q4 2026 guidance of 30-32 EPS.
• Wall Street remains broadly bullish on Micron, with several firms raising price targets and the stock carrying a consensus “Buy” rating and average target of $1,268.93.

Westpac Banking Corp reduced its stake in shares of Micron Technology, Inc. (NASDAQ:MU - Free Report) by 20.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,957 shares of the semiconductor manufacturer's stock after selling 3,743 shares during the quarter. Westpac Banking Corp's holdings in Micron Technology were worth $5,053,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Micron Technology in the first quarter valued at about $27,000. High Note Wealth LLC raised its holdings in Micron Technology by 65.4% in the 4th 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 in the last quarter. Elevation Wealth Partners LLC raised its holdings in Micron Technology by 295.8% in the 4th 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 in the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in shares of Micron Technology by 4,800.0% in 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. Finally, Bayban bought a new stake in shares of Micron Technology in the 4th quarter worth approximately $29,000. 80.84% of the stock is owned by institutional investors.

Micron Technology Trading Up 12.2%

Shares of Micron Technology stock opened at $970.82 on Wednesday. Micron Technology, Inc. has a 12-month low of $103.38 and a 12-month high of $1,255.00. The stock has a market capitalization of $1.10 trillion, a P/E ratio of 21.98 and a beta of 2.14. The company has a 50-day simple moving average of $954.95 and a 200 day simple moving average of $610.96. The company has a quick ratio of 2.98, a current ratio of 3.42 and a debt-to-equity ratio of 0.05.

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

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 21st. Stockholders of record on Monday, July 6th were issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Monday, July 6th. Micron Technology's payout ratio is presently 1.36%.

Analyst Ratings Changes

A number of research firms have recently issued reports on MU. Citigroup boosted their price objective on 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. DA Davidson raised their target price on Micron Technology from $1,500.00 to $2,000.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of Micron Technology in a research note on Tuesday, May 12th. Morgan Stanley boosted their price target on shares of Micron Technology from $1,050.00 to $1,200.00 and gave the company an "overweight" rating in a report on Thursday, June 25th. Finally, Rosenblatt Securities increased their price objective 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. Four investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $1,268.93.

Insiders Place Their Bets

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the business's stock in a transaction on Friday, May 1st. The stock was 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 of the company's stock, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $1,083.94, for a total value of $43,357,600.00. Following the sale, the executive vice president owned 85,737 shares in the company, valued at $92,933,763.78. The trade was a 31.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 163,300 shares of company stock valued at $152,667,204 over the last quarter. 0.24% of the stock is owned by insiders.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron is benefiting from a broad rebound in memory stocks, with SanDisk, SK Hynix, and Western Digital also bouncing as investors bet the recent slump was overdone. MU, SNDK, SKHY: Memory Stocks Rip Higher as Key Names Lead a Buy-the-Dip Comeback
• Positive Sentiment: Bank of America’s bullish take that low-cost AI models could increase memory demand helped revive sentiment around Micron and other chip stocks. Micron stock jumps 12%: what is driving the memory stock today
• Positive Sentiment: Multiple notes highlighted that the recent memory-stock selloff may have created an attractive entry point, with analysts saying data-center shortages and AI spending should keep demand firm. Why Micron and other chip stocks are bouncing back so strongly
• Positive Sentiment: Wall Street commentary remained constructive, with reports that Micron was added to “best investment ideas” lists and that analysts still see strong profitability from the AI memory cycle. NVIDIA Isn't Leading AI Stocks in 2026 - These 2 Are Up Over 180%
• Neutral Sentiment: Some coverage also noted that traders are watching upcoming Big Tech earnings for clues on AI infrastructure spending, which could either extend the rally or cool it off. Micron and SK Hynix Stocks Jump. Watch for This Memory-Related Catalyst.
• Negative Sentiment: A few articles warned that valuations may already reflect a lot of the AI boom, and that customers could eventually push back against soaring memory costs, creating a risk of more volatility. Micron and SK Hynix Stocks Jump. Watch for This Memory-Related Catalyst.

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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