Chip stocks fall with Nvidia after data center rev disappointment
Ray Michael Charles, Senior Vice President and Chief Legal Officer at Micron Technology Inc. (NASDAQ:MU), a prominent $113 billion semiconductor company showing strong momentum with a 15.79% gain last week, has sold 6,525 shares of common stock in a transaction dated March 14, 2025. According to InvestingPro analysis, the company maintains a GOOD financial health score. The shares were sold at a price of $100.00 each, amounting to a total value of $652,500. Following the sale, Charles retains ownership of 92,437 shares. The transaction was executed as part of a Rule 10b5-1 trading plan that Charles adopted on July 19, 2024. Investors should note that Micron is scheduled to report earnings on March 20, 2025. InvestingPro subscribers have access to 10 additional key insights about Micron’s valuation and growth prospects.
In other recent news, Micron Technology has launched its HBM3E and SOCAMM memory solutions for AI data center servers, becoming the first company to ship these products globally. This move reinforces Micron’s position in the high-performance memory market, crucial for advanced GPUs and processors. In collaboration with NVIDIA (NASDAQ:NVDA), Micron’s SOCAMM supports the NVIDIA GB300 Grace™ Blackwell Ultra Superchip, enhancing data processing and power efficiency. Stifel analysts have maintained a Buy rating with a $130 price target on Micron, noting expectations for the company to meet current quarter estimates. However, they have adjusted future projections due to challenges in memory pricing and product mix shifts. TD Cowen also reiterated a Buy rating with a $125 price target, citing signs of an improved outlook in the memory chip sector, though expressing caution over long-term sustainability. The firm maintained its EPS estimate for Micron at $1.35 for the May quarter, highlighting potential upside if DRAM and NAND suppliers successfully push for price increases. These developments reflect ongoing strategic efforts by Micron to navigate market conditions and enhance its product offerings.
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