Certified Advisory Corp trimmed its holdings in Micron Technology, Inc. (NASDAQ:MU – Free Report) by 23.8% during the first quarter, Holdings Channel reports. The institutional investor owned 3,072 shares of the semiconductor manufacturer’s stock after selling 962 shares during the quarter. Certified Advisory Corp’s holdings in Micron Technology were worth $1,038,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Heritage Trust Co increased its stake in Micron Technology by 9.7% in the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock valued at $4,289,000 after buying an additional 1,323 shares during the last quarter. Westpac Banking Corp lifted its position in shares of Micron Technology by 251.0% during the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock worth $3,863,000 after buying an additional 16,509 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Micron Technology by 19.9% in the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock worth $1,196,427,000 after buying an additional 1,188,296 shares during the last quarter. Fulton Bank N.A. boosted its stake in shares of Micron Technology by 79.1% in the 4th quarter. Fulton Bank N.A. now owns 16,183 shares of the semiconductor manufacturer’s stock worth $4,619,000 after buying an additional 7,147 shares during the last quarter. Finally, Financial Synergies Wealth Advisors Inc. bought a new position in shares of Micron Technology in the fourth quarter valued at approximately $1,316,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.
Micron Technology Trading Down 1.3%
NASDAQ:MU opened at $1,037.93 on Thursday. 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 stock has a market capitalization of $1.17 trillion, a PE ratio of 49.01 and a beta of 2.16. The firm’s 50 day moving average is $788.74 and its 200 day moving average is $513.50. Micron Technology, Inc. has a 12 month low of $103.38 and a 12 month high of $1,213.56.
Wall Street Analysts Forecast Growth
MU has been the topic of a number of recent analyst reports. TD Cowen lifted their price target on Micron Technology from $660.00 to $1,500.00 and gave the stock a “buy” rating in a report on Monday, June 15th. DA Davidson started coverage on Micron Technology in a research report on Monday, May 11th. They issued a “buy” rating and a $1,000.00 price objective on the stock. Wedbush upped their price objective on Micron Technology from $500.00 to $1,300.00 and gave the company an “outperform” rating in a research note on Thursday, June 18th. Barclays raised their target price on Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Finally, Rosenblatt Securities lifted their target price on Micron Technology from $600.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday, June 18th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $1,013.13.
View Our Latest Stock Analysis on MU
Insider Transactions at Micron Technology
In other news, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction 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 transaction, the executive vice president owned 224,021 shares of the company’s stock, valued at $94,391,248.35. This represents a 9.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the transaction, the director directly owned 17,139 shares in the company, valued at $13,488,907.17. This represents a 10.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 146,000 shares of company stock valued at $85,486,715. Corporate insiders own 0.24% of the company’s stock.
Key Micron Technology News
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron reported fiscal Q3 revenue of $41.46 billion and non-GAAP EPS of $25.11, both far above Wall Street estimates, showing that AI-related memory demand is still accelerating. Article Title
- Positive Sentiment: The company issued stronger-than-expected Q4 guidance, with revenue and EPS forecasts well above consensus, signaling that the growth trajectory may continue into the next quarter. Article Title
- Positive Sentiment: Several reports highlighted Micron’s record margins and “blowout” results, with bullish commentary saying the AI trade is still alive and that pricing power is improving as memory shortages persist. Article Title
- Positive Sentiment: Analysts responded with higher price targets and upgrades, reinforcing confidence that Micron’s AI-driven earnings power may justify a richer valuation. Article Title
- Neutral Sentiment: The stock had been volatile ahead of earnings because of a broader tech sell-off and concerns that AI spending was getting overheated, so expectations were very high going into the report. Article Title
- Neutral Sentiment: Micron’s elevated capital spending plans and some analyst warnings suggest investors may still watch closely for signs that the memory boom cools or margins normalize later on. Article Title
About Micron Technology
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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