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

Sit Investment Associates Inc. reduced its holdings in Micron Technology, Inc. (NASDAQ:MU) by 33.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 29,940 shares of the semiconductor manufacturer’s stock after selling 14,874 shares during the quarter. Sit Investment Associates Inc.’s holdings in Micron Technology were worth $8,545,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MU. Vanguard Group Inc. lifted its stake in shares of Micron Technology by 1.9% in 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 period. State Street Corp boosted its position in shares of Micron Technology by 2.1% in the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock worth $15,061,310,000 after purchasing an additional 1,090,644 shares during the last quarter. Capital International Investors grew its stake in shares of 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 purchasing an additional 155,860 shares during the period. Norges Bank acquired a new stake in shares of Micron Technology during the fourth quarter worth $6,433,456,000. Finally, Morgan Stanley increased its holdings in Micron Technology by 5.1% in the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock valued at $4,679,771,000 after purchasing an additional 794,289 shares during the last quarter. 80.84% of the stock is owned by institutional investors.

Key Headlines Impacting Micron Technology

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

Micron Technology Stock Performance

MU stock opened at $1,133.99 on Friday. The business’s 50-day moving average price is $733.54 and its two-hundred day moving average price is $488.89. 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 cap of $1.28 trillion, a PE ratio of 53.54 and a beta of 2.16. Micron Technology, Inc. has a 1-year low of $103.38 and a 1-year high of $1,149.43.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company’s revenue for the quarter was up 196 compared to the same quarter last year. During the same period in the prior year, the company earned $1.56 earnings per share. As a group, research analysts forecast that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the completion of the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP April S. Arnzen sold 40,000 shares of the firm’s 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 sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 146,000 shares of company stock worth $85,486,715. Company insiders own 0.24% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Cantor Fitzgerald increased their target price on Micron Technology from $700.00 to $1,500.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Bank of America boosted their target price on Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Rosenblatt Securities upped their price target on Micron Technology from $600.00 to $1,200.00 and gave the company a “buy” rating in a research note on Thursday. Barclays increased their price target on shares of Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Finally, Erste Group Bank lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Five research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Micron Technology has an average rating of “Buy” and an average target price of $913.47.

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.