Micron Technology, Inc. $MU Shares Purchased by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd grew its position in shares of Micron Technology, Inc. (NASDAQ:MU) by 43.4% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 40,020 shares of the semiconductor manufacturer’s stock after buying an additional 12,106 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in Micron Technology were worth $11,422,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Micron Technology during the 4th quarter valued at approximately $6,433,456,000. AQR Capital Management LLC lifted its stake in Micron Technology by 411.9% during the third quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock worth $606,873,000 after purchasing an additional 2,918,535 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Micron Technology by 1,340.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,820,986 shares of the semiconductor manufacturer’s stock worth $805,148,000 after purchasing an additional 2,625,169 shares during the period. Vanguard Group Inc. boosted its holdings in Micron Technology by 1.9% in the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Micron Technology by 151.0% during the fourth quarter. Renaissance Technologies LLC now owns 3,011,143 shares of the semiconductor manufacturer’s stock valued at $859,411,000 after purchasing an additional 1,811,607 shares during the last quarter. Institutional investors and hedge funds 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

Micron Technology Stock Performance

Shares of MU opened at $1,020.76 on Wednesday. The firm has a fifty day moving average of $705.11 and a 200-day moving average of $476.85. The company has a market cap of $1.15 trillion, a price-to-earnings ratio of 48.19 and a beta of 2.16. 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, Inc. has a 1 year low of $103.38 and a 1 year high of $1,110.40.

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

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Citigroup increased their target price on shares of Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. 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. Needham & Company LLC increased their price objective on shares of Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. DA Davidson initiated coverage on shares of Micron Technology in a report on Monday, May 11th. They issued a “buy” rating and a $1,000.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price on Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. 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.com, Micron Technology currently has an average rating of “Buy” and a consensus price target of $788.13.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology 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 sale, the chief executive officer owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP April S. Arnzen sold 40,000 shares of the business’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 value of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This 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 have sold a total of 146,000 shares of company stock worth $85,486,715 in the last quarter. Company insiders own 0.24% of the company’s stock.

Micron Technology Company 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.