Sit Investment Associates Inc. Sells 14,874 Shares of Micron Technology, Inc. $MU

Sit Investment Associates Inc. cut its stake in Micron Technology, Inc. (NASDAQ:MU) by 33.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,940 shares of the semiconductor manufacturer’s stock after selling 14,874 shares during the period. Sit Investment Associates Inc.’s holdings in Micron Technology were worth $8,545,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of MU. Vanguard Group Inc. lifted its holdings in Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock valued at $30,427,016,000 after purchasing an additional 1,954,644 shares during the last quarter. State Street Corp grew its stake in Micron Technology by 2.1% during the fourth quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock worth $15,061,310,000 after buying an additional 1,090,644 shares during the last quarter. Capital International Investors grew its stake in Micron Technology by 0.7% during the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after buying an additional 155,860 shares during the last quarter. Norges Bank acquired a new stake in shares of Micron Technology during the fourth quarter worth approximately $6,433,456,000. Finally, Morgan Stanley increased its holdings in shares of Micron Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock worth $4,679,771,000 after buying an additional 794,289 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Price Performance

MU opened at $1,133.99 on Friday. 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 stock has a market capitalization of $1.28 trillion, a P/E ratio of 53.54 and a beta of 2.16. The company’s 50 day simple moving average is $733.54 and its 200-day simple moving average is $488.89. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,149.43.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. During the same quarter in the previous year, the company posted $1.56 EPS. Micron Technology’s revenue was up 196 on a year-over-year basis. Sell-side analysts anticipate that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 146,000 shares of company stock valued at $85,486,715 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MU. Sanford C. Bernstein boosted their target price on Micron Technology from $330.00 to $510.00 and gave the stock an “outperform” rating in a report on Wednesday, March 18th. Citigroup lifted their price objective on Micron Technology from $840.00 to $1,200.00 and gave the company a “buy” rating in a research report on Wednesday. Rosenblatt Securities boosted their price objective on Micron Technology from $600.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp increased their target price on Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Finally, Royal Bank Of Canada raised their target price on Micron Technology from $525.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, Micron Technology currently has an average rating of “Buy” and an average price target of $913.47.

Micron Technology News Roundup

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

• Positive Sentiment: Wedbush raised its price target on Micron and reiterated an outperform view, citing strong AI-related demand and improved memory pricing. Micron Technology rises as Wedbush and Stifel raise price targets on AI-driven demand
• Positive Sentiment: Stifel also boosted its target to $1,500, adding to a wave of bullish analyst revisions that suggest further upside if Micron delivers on June 24 earnings. Stifel’s $1,500 Target Bets Micron Has Further to Run
• Positive Sentiment: Deutsche Bank, RBC, and other firms raised targets sharply, signaling growing confidence that AI memory demand and pricing power can support a stronger-than-expected quarter. Micron stock draws aggressive target reset from 5-star analyst
• Positive Sentiment: Investor optimism is also being fueled by reports tying Micron to AI buildout themes, including Apple’s warning that iPhone price hikes may be unavoidable and commentary that Micron has “more room to run” as chip costs rise. Apple Price Hike Warning Sends Micron Stock Soaring
• Neutral Sentiment: Several articles note Micron is trading near record levels and may be overvalued by some valuation models, which could make the stock more sensitive to any earnings disappointment. Micron Technology Inc (MU) Stock Up 8.7% but GF Value Says Overvalued — GF Score: 79/100
• Neutral Sentiment: Micron’s upcoming June 24 earnings report is the key near-term catalyst, with investors watching whether management confirms the bullish AI demand narrative. The Week Ahead: Micron Earnings Take Center Stage

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.