Micron Technology (NASDAQ:MU) Trading Up 2.2% After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price was up 2.2% on Tuesday after Deutsche Bank Aktiengesellschaft raised their price target on the stock from $200.00 to $280.00. Deutsche Bank Aktiengesellschaft currently has a buy rating on the stock. Micron Technology traded as high as $255.51 and last traded at $252.42. Approximately 16,973,502 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 23,565,313 shares. The stock had previously closed at $246.92.

MU has been the topic of several other reports. Wells Fargo & Company raised their price target on Micron Technology from $220.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Susquehanna increased their target price on Micron Technology from $200.00 to $300.00 and gave the company a “positive” rating in a research note on Monday. Wolfe Research raised their target price on Micron Technology from $200.00 to $300.00 and gave the stock an “outperform” rating in a report on Tuesday, December 2nd. Needham & Company LLC boosted their target price on Micron Technology from $150.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Wedbush upped their price target on Micron Technology from $200.00 to $220.00 and gave the company an “outperform” rating in a research note on Wednesday, September 24th. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $231.41.

Insider Transactions at Micron Technology

In related news, EVP Scott J. Deboer sold 82,000 shares of the stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $222.81, for a total transaction of $18,270,420.00. Following the completion of the transaction, the executive vice president directly owned 154,145 shares in the company, valued at approximately $34,345,047.45. This trade represents a 34.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 22,500 shares of the firm’s stock in a transaction that occurred on Monday, October 27th. The stock was sold at an average price of $220.72, for a total transaction of $4,966,200.00. Following the transaction, the chief executive officer directly owned 446,578 shares of the company’s stock, valued at $98,568,696.16. This represents a 4.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 399,852 shares of company stock valued at $84,048,737 over the last three months. 0.24% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Micron Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MU. Brighton Jones LLC increased its position in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after acquiring an additional 976 shares during the last quarter. Townsquare Capital LLC grew its stake in Micron Technology by 86.0% in the first quarter. Townsquare Capital LLC now owns 43,691 shares of the semiconductor manufacturer’s stock valued at $3,796,000 after purchasing an additional 20,197 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of Micron Technology during the 1st quarter worth approximately $146,000. Covestor Ltd increased its position in shares of Micron Technology by 64.1% during the 1st quarter. Covestor Ltd now owns 973 shares of the semiconductor manufacturer’s stock worth $84,000 after purchasing an additional 380 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of Micron Technology by 11.7% during the 1st quarter. Benjamin Edwards Inc. now owns 5,387 shares of the semiconductor manufacturer’s stock worth $468,000 after purchasing an additional 564 shares in the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Trading Up 2.2%

The company has a market cap of $283.75 billion, a price-to-earnings ratio of 33.26, a P/E/G ratio of 0.50 and a beta of 1.54. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.79 and a current ratio of 2.52. The firm has a fifty day moving average price of $217.21 and a 200 day moving average price of $155.94.

Micron Technology (NASDAQ:MU) last issued its earnings results on Tuesday, September 23rd. The semiconductor manufacturer reported $3.03 earnings per share for the quarter, topping analysts’ consensus estimates of $2.86 by $0.17. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $11.32 billion for the quarter, compared to the consensus estimate of $11.05 billion. The firm’s revenue for the quarter was up 46.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.18 earnings per share. Micron Technology has set its Q1 2026 guidance at 3.600-3.900 EPS. As a group, equities analysts predict that Micron Technology, Inc. will post 6.08 EPS for the current fiscal year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 21st. Investors of record on Friday, October 3rd were issued a dividend of $0.115 per share. The ex-dividend date was Friday, October 3rd. This represents a $0.46 dividend on an annualized basis and a yield of 0.2%. Micron Technology’s dividend payout ratio (DPR) is presently 6.06%.

Micron Technology Company Profile

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.