Evergreen Quality Fund GP Ltd. Invests $317.10 Million in Micron Technology, Inc. $MU

Evergreen Quality Fund GP Ltd. bought a new position in Micron Technology, Inc. (NASDAQ:MU) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,111,026 shares of the semiconductor manufacturer’s stock, valued at approximately $317,098,000. Micron Technology accounts for about 6.3% of Evergreen Quality Fund GP Ltd.’s investment portfolio, making the stock its 4th largest holding. Evergreen Quality Fund GP Ltd. owned about 0.10% of Micron Technology as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake 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 in the last quarter. State Street Corp boosted its stake in Micron Technology by 2.1% in the fourth quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock valued at $15,061,310,000 after acquiring an additional 1,090,644 shares in the last quarter. Capital International Investors grew its stake in Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after buying an additional 155,860 shares during the last quarter. Norges Bank purchased a new position in Micron Technology during the 4th quarter worth $6,433,456,000. Finally, Morgan Stanley grew its stake in Micron Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock worth $4,679,771,000 after buying an additional 794,289 shares during the last quarter. Institutional investors own 80.84% of the company’s stock.

Insider Transactions at Micron Technology

In other news, CEO Sanjay Mehrotra sold 37,439 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 387,064 shares of the company’s stock, valued at approximately $371,728,524.32. This trade represents a 8.82% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the sale, 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 position. 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 ninety days. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

MU has been the subject of several research reports. Citigroup lifted their price objective on shares of Micron Technology from $840.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Wednesday. Summit Insights lowered shares of Micron Technology from a “buy” rating to a “hold” rating in a research report on Thursday, March 19th. DA Davidson assumed coverage on Micron Technology in a report on Monday, May 11th. They set a “buy” rating and a $1,000.00 target price on the stock. Melius Research assumed coverage on Micron Technology in a report on Monday, April 27th. They set a “buy” rating and a $700.00 target price on the stock. Finally, The Goldman Sachs Group raised their target price on Micron Technology from $400.00 to $900.00 and gave the stock a “neutral” rating in a report on Wednesday, June 10th. Five equities 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 company. According to MarketBeat.com, Micron Technology presently has an average rating of “Buy” and a consensus target price of $831.80.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Deutsche Bank raised its price target on Micron to $1,500 and reiterated a buy rating, citing persistent supply constraints and strong demand from AI applications. Micron Technology had its price target raised by Deutsche Bank Aktiengesellschaft from $1,000.00 to $1,500.00. They now have a “buy” rating on the stock.
• Positive Sentiment: Citi also raised its target on Micron to $1,200, reinforcing Wall Street’s view that AI-driven memory demand and stronger pricing power are supporting further upside. Micron Technology had its price target raised by Citigroup Inc. from $840.00 to $1,200.00. They now have a “buy” rating on the stock.
• Positive Sentiment: Multiple recent articles highlighted Micron’s surging revenue, expanding profitability, and unusually strong demand for DRAM, NAND, and high-bandwidth memory, which are key components in AI infrastructure. Micron: New Data Indicates Consensus Estimates Are Too Conservative (Earnings Preview)
• Positive Sentiment: Micron is being framed as a likely beneficiary of the next wave of AI spending, with several outlets saying its rally is supported by improving fundamentals and upcoming earnings expectations. Micron (MU) Earnings Expected to Grow: What to Know Ahead of Next Week’s Release
• Neutral Sentiment: Some commentary noted that Micron may be a candidate for a future stock split after crossing the $1,000 level, but that would be more of a sentiment event than a direct fundamental driver. Will Micron Split Its Stock This Year?
• Neutral Sentiment: There were also a few cautionary takes warning that Micron’s earnings power could be near a cycle peak, which could temper enthusiasm if memory pricing cools later. Micron: Peak Earnings Power Meets The Cycle Clock (Rating Downgrade)

Micron Technology Trading Up 2.2%

MU stock opened at $1,043.19 on Thursday. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The firm has a market cap of $1.18 trillion, a P/E ratio of 49.25 and a beta of 2.16. Micron Technology, Inc. has a 52-week low of $103.38 and a 52-week high of $1,110.40. The company’s 50-day simple moving average is $718.42 and its 200-day simple moving average is $482.57.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, beating 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 business had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. During the same quarter last year, the business earned $1.56 earnings per share. The company’s revenue for the quarter was up 196 compared to the same quarter last year. As a group, equities analysts forecast that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

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.