Persistent Asset Partners Ltd Has $1.58 Million Holdings in Micron Technology, Inc. $MU

Persistent Asset Partners Ltd increased its stake in Micron Technology, Inc. (NASDAQ:MU) by 46,008.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,533 shares of the semiconductor manufacturer’s stock after purchasing an additional 5,521 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Micron Technology were worth $1,579,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Heritage Trust Co lifted its position in Micron Technology by 9.7% during the 4th quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock worth $4,289,000 after buying an additional 1,323 shares in the last quarter. Westpac Banking Corp lifted its position in 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 lifted its position in Micron Technology by 19.9% during 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 in the last quarter. Fulton Bank N.A. lifted its position in Micron Technology by 79.1% during 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 in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. bought a new stake in Micron Technology during the 4th quarter worth about $1,316,000. 80.84% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of the company’s stock in a transaction dated 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 owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the completion of the transaction, the executive vice president owned 224,021 shares in the company, valued at approximately $94,391,248.35. This trade represents a 9.68% 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 worth $85,486,715 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MU shares. Raymond James Financial upped their target price on shares of Micron Technology from $530.00 to $1,100.00 and gave the company an “outperform” rating in a report on Monday, June 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of Micron Technology from $500.00 to $550.00 and gave the company a “buy” rating in a report on Thursday, March 19th. Mizuho upped their target price on shares of Micron Technology to $800.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Wells Fargo & Company upped their target price on shares of Micron Technology from $550.00 to $1,220.00 and gave the company an “overweight” rating in a report on Monday, June 8th. Finally, TD Cowen upped their target price on shares of Micron Technology from $660.00 to $1,500.00 and gave the company a “buy” rating in a report on Monday. Five research 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 stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $788.13.

Key Headlines Impacting Micron Technology

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

Micron Technology Stock Down 6.2%

Shares of MU opened at $1,020.76 on Wednesday. Micron Technology, Inc. has a 52 week low of $103.38 and a 52 week high of $1,110.40. The firm has a market cap of $1.15 trillion, a P/E ratio of 48.19 and a beta of 2.16. The firm’s 50-day simple moving average is $705.11 and its 200 day simple moving average is $476.85. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

Micron Technology (NASDAQ:MU) last announced 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. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same quarter in the prior year, the business earned $1.56 EPS. Micron Technology’s quarterly revenue was up 196 on a year-over-year basis. On average, analysts forecast that Micron Technology, Inc. will post 59.23 earnings per share for the current year.

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.