Astoria Portfolio Advisors LLC. Lowers Stock Position in Micron Technology, Inc. $MU

Astoria Portfolio Advisors LLC. cut its stake in shares of Micron Technology, Inc. (NASDAQ:MU) by 14.7% in the fourth quarter, Holdings Channel.com reports. The fund owned 5,138 shares of the semiconductor manufacturer’s stock after selling 884 shares during the period. Astoria Portfolio Advisors LLC.’s holdings in Micron Technology were worth $1,466,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in Micron Technology during the 4th quarter worth about $6,433,456,000. AQR Capital Management LLC grew its position in Micron Technology by 411.9% in the 3rd quarter. AQR Capital Management LLC now owns 3,627,022 shares of the semiconductor manufacturer’s stock valued at $606,873,000 after acquiring an additional 2,918,535 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Micron Technology by 1,340.6% during 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. Amundi increased its stake in Micron Technology by 65.0% during the fourth quarter. Amundi now owns 4,989,400 shares of the semiconductor manufacturer’s stock worth $1,424,025,000 after purchasing an additional 1,965,319 shares during the period. Finally, Vanguard Group Inc. increased its stake in Micron Technology by 1.9% during 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. 80.84% of the stock is owned by hedge funds and other institutional investors.

More Micron Technology News

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 Up 8.7%

Shares of NASDAQ:MU opened at $1,133.99 on Friday. The firm’s 50 day moving average price is $733.54 and its 200 day moving average price is $488.89. The stock has a market cap of $1.28 trillion, a price-to-earnings ratio of 53.54 and a beta of 2.16. Micron Technology, Inc. has a fifty-two week low of $103.38 and a fifty-two week high of $1,149.43. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS 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 company 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 business posted $1.56 EPS. The firm’s revenue was up 196 on a year-over-year basis. As a group, equities research analysts predict that Micron Technology, Inc. will post 59.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently commented on MU. Stifel Nicolaus raised their price objective on shares of Micron Technology from $550.00 to $1,500.00 and gave the company a “buy” rating in a research note on Thursday. Needham & Company LLC upped their target price 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. The Goldman Sachs Group increased their target price on shares of Micron Technology from $400.00 to $900.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. KeyCorp raised their price target on shares of Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Finally, Cantor Fitzgerald boosted their price target on shares of Micron Technology from $700.00 to $1,500.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Buy” and an average target price of $913.47.

Insider Activity

In other news, CEO Sanjay Mehrotra sold 37,439 shares of the firm’s stock in a transaction on Friday, May 29th. The shares were sold at an average price of $960.38, for a total value of $35,955,666.82. Following the sale, the chief executive officer directly owned 387,064 shares in the company, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Sumit Sadana sold 24,000 shares of Micron Technology 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 sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 146,000 shares of company stock valued at $85,486,715 over the last quarter. Company insiders own 0.24% of the company’s stock.

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.