Prentice Wealth Management LLC Sells 929 Shares of Micron Technology, Inc. $MU

Prentice Wealth Management LLC lowered its position in Micron Technology, Inc. (NASDAQ:MU) by 46.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,085 shares of the semiconductor manufacturer’s stock after selling 929 shares during the period. Prentice Wealth Management LLC’s holdings in Micron Technology were worth $367,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. High Note Wealth LLC grew its position in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 34 shares in the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 71 shares in the last quarter. Steigerwald Gordon & Koch Inc. lifted its stake in shares of Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. Bayban acquired a new stake in shares of Micron Technology in the 4th quarter valued at $29,000. Finally, GHP Investment Advisors Inc. boosted its holdings in Micron Technology by 91.2% in the fourth quarter. GHP Investment Advisors Inc. now owns 109 shares of the semiconductor manufacturer’s stock worth $31,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron announced a strategic AI infrastructure agreement with Anthropic that includes memory and storage supply, AI architecture collaboration, enterprise use of Claude, and an investment in Anthropic’s funding round. Reuters article
• Positive Sentiment: Several Wall Street firms raised price targets on Micron, signaling continued confidence in AI-driven memory demand and earnings upside. Benzinga analyst update
• Neutral Sentiment: Investors are positioning for a potentially large post-earnings move, with options markets pricing in elevated volatility heading into the Q3 report. TipRanks article
• Negative Sentiment: Micron was caught in a broad tech and memory-stock selloff as traders questioned whether massive AI capex spending will translate into sufficient returns. LA Times article
• Negative Sentiment: South Korea’s KOSPI plunge and weakness in SK Hynix and Samsung Electronics added pressure on Micron, reinforcing fears that memory-chip enthusiasm may be overheating. Barron’s article

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wolfe Research increased their target price on shares of Micron Technology from $550.00 to $1,250.00 and gave the stock an “outperform” rating in a research report on Thursday, June 11th. Royal Bank Of Canada upped their price target on Micron Technology from $525.00 to $1,200.00 and gave the stock an “outperform” rating in a research note on Monday, June 15th. Barclays increased their price objective on Micron Technology from $450.00 to $675.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Wells Fargo & Company raised their price objective on Micron Technology from $550.00 to $1,220.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Finally, Bank of America boosted their target price on Micron Technology from $950.00 to $1,500.00 and gave the stock a “buy” rating in a report on Tuesday. Five 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 price target of $1,008.13.

Micron Technology Stock Down 13.2%

Micron Technology stock opened at $1,051.77 on Wednesday. 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, Inc. has a fifty-two week low of $103.38 and a fifty-two week high of $1,213.56. The firm has a fifty day moving average price of $776.51 and a two-hundred day moving average price of $507.79. The firm has a market cap of $1.19 trillion, a price-to-earnings ratio of 49.66 and a beta of 2.16.

Insiders Place Their Bets

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 146,000 shares of company stock valued at $85,486,715. 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.