BLKBRD Asset Management LP Sells 83,957 Shares of Micron Technology, Inc. $MU

BLKBRD Asset Management LP lowered its holdings in shares of Micron Technology, Inc. (NASDAQ:MU) by 97.5% during the fourth quarter, HoldingsChannel reports. The firm owned 2,132 shares of the semiconductor manufacturer’s stock after selling 83,957 shares during the quarter. Micron Technology comprises 0.8% of BLKBRD Asset Management LP’s holdings, making the stock its 22nd largest holding. BLKBRD Asset Management LP’s holdings in Micron Technology were worth $608,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Brighton Jones LLC raised its holdings in Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after buying an additional 976 shares during the period. Sivia Capital Partners LLC lifted its stake in Micron Technology by 21.7% in the second quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock valued at $435,000 after buying an additional 628 shares in the last quarter. United Bank acquired a new position in shares of Micron Technology in the second quarter valued at approximately $236,000. Schnieders Capital Management LLC. boosted its holdings in shares of Micron Technology by 67.9% in the second quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after buying an additional 6,867 shares during the period. Finally, Sei Investments Co. increased its position in shares of Micron Technology by 5.6% during the second quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock worth $49,987,000 after acquiring an additional 21,619 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Key Micron Technology News

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

• Positive Sentiment: Wall Street sentiment remains upbeat, with multiple firms raising price targets and TD Cowen lifting its target to $1,500 on expectations that AI-driven memory demand will keep pricing strong through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: Micron was reported to have been approved to supply HBM4 memory to Nvidia, reinforcing its role as a key AI memory supplier and supporting the long-term growth story. Micron Technology Inc (MU) Gets Nvidia Nod For AI Memory Supply
• Positive Sentiment: Several reports highlighted continued breakout momentum, memory-chip shortages, and strong demand for high-bandwidth memory, all of which have been driving Micron’s recent surge. Stock Of The Day: Did Micron Technology Break Out Again?
• Neutral Sentiment: Micron is approaching its fiscal Q3 earnings report on June 24, and options traders are pricing in a large swing, showing that expectations are elevated and volatility may stay high. Micron (MU) Q3 Earnings on Deck – Options Traders Brace for a 17.6% Price Swing
• Neutral Sentiment: Some analysts and commentary warned the stock is increasingly overbought after its massive year-to-date run, suggesting the latest weakness may reflect a valuation pause rather than a change in fundamentals. Micron stock turns most overbought in 30 years: Time to sell?
• Negative Sentiment: One recent market note said Micron fell more sharply than the broader market in the latest session, indicating some near-term selling pressure and profit-taking after the stock’s huge move higher. Micron (MU) Falls More Steeply Than Broader Market: What Investors Need to Know

Insider Buying and Selling

In related news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the transaction, the director directly owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, the executive vice president directly owned 125,737 shares of the company’s stock, valued at $43,679,776.43. This trade represents a 24.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 146,000 shares of company stock worth $85,486,715 in the last three months. Insiders own 0.24% of the company’s stock.

Micron Technology Stock Performance

Shares of Micron Technology stock opened at $1,020.76 on Wednesday. The firm has a market cap of $1.15 trillion, a price-to-earnings ratio of 48.19 and a beta of 2.16. The stock’s 50-day moving average is $705.11 and its 200-day moving average is $476.85. Micron Technology, Inc. has a one year low of $103.38 and a one year high of $1,110.40. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating analysts’ consensus estimates of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company’s quarterly revenue was up 196 compared to the same quarter last year. During the same period in the previous year, the company posted $1.56 earnings per share. Equities analysts predict that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently commented on MU. Royal Bank Of Canada boosted their price objective on shares of Micron Technology from $525.00 to $1,200.00 and gave the company an “outperform” rating in a research report on Monday. Wells Fargo & Company upped their target price on shares of Micron Technology from $550.00 to $1,220.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 target price on shares of Micron Technology in a research note on Monday, March 16th. DA Davidson initiated coverage on shares of Micron Technology in a research note on Monday, May 11th. They issued a “buy” rating and a $1,000.00 target price for the company. Finally, Morgan Stanley boosted their price target on Micron Technology from $520.00 to $1,050.00 and gave the company an “overweight” rating in a report on Wednesday, June 3rd. Five investment analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Micron Technology has an average rating of “Buy” and a consensus target price of $788.13.

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.