Wolfe Research Issues Positive Forecast for Micron Technology (NASDAQ:MU) Stock Price

Micron Technology (NASDAQ:MU) had its target price increased by analysts at Wolfe Research from $300.00 to $350.00 in a report released on Thursday,Benzinga reports. The brokerage presently has an “outperform” rating on the semiconductor manufacturer’s stock. Wolfe Research’s price objective suggests a potential upside of 37.67% from the stock’s current price.

A number of other research analysts have also recently commented on the company. Cowen reaffirmed a “buy” rating on shares of Micron Technology in a research note on Thursday, December 11th. Rosenblatt Securities restated a “buy” rating and set a $300.00 price objective on shares of Micron Technology in a report on Monday. Mizuho increased their target price on Micron Technology from $270.00 to $290.00 and gave the stock an “outperform” rating in a research note on Thursday. UBS Group reissued an “overweight” rating on shares of Micron Technology in a research note on Thursday. Finally, Barclays raised their price target on shares of Micron Technology from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday. Five equities research analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $281.54.

Micron Technology Trading Up 12.7%

MU traded up $28.71 during trading on Thursday, reaching $254.23. The company had a trading volume of 44,199,759 shares, compared to its average volume of 23,715,490. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26. The business has a 50 day simple moving average of $225.54 and a 200-day simple moving average of $162.83. The stock has a market cap of $285.79 billion, a P/E ratio of 33.41, a PEG ratio of 0.34 and a beta of 1.54. Micron Technology has a 52 week low of $61.54 and a 52 week high of $264.75.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, December 17th. The semiconductor manufacturer reported $4.78 earnings per share for the quarter, beating the consensus estimate of $3.77 by $1.01. Micron Technology had a net margin of 22.84% and a return on equity of 17.21%. The business had revenue of $13.64 billion for the quarter, compared to the consensus estimate of $12.62 billion. During the same quarter in the prior year, the firm posted $1.79 earnings per share. The business’s revenue for the quarter was up 56.7% on a year-over-year basis. Micron Technology has set its Q2 2026 guidance at 8.220-8.620 EPS. On average, equities analysts anticipate that Micron Technology will post 6.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Sanjay Mehrotra sold 3,743 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $233.39, for a total value of $873,578.77. Following the sale, the chief executive officer directly owned 396,578 shares in the company, valued at approximately $92,557,339.42. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Scott J. Deboer sold 82,000 shares of Micron Technology stock in a transaction that occurred on 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. The trade was a 34.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 383,650 shares of company stock worth $81,602,339 in the last three months. 0.24% of the stock is owned by company insiders.

Hedge Funds Weigh In On Micron Technology

A number of large investors have recently made changes to their positions in the business. REAP Financial Group LLC purchased a new stake in shares of Micron Technology during the third quarter worth about $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Micron Technology in the 3rd quarter worth approximately $27,000. Cullen Frost Bankers Inc. grew its position in Micron Technology by 79.3% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 199 shares of the semiconductor manufacturer’s stock worth $33,000 after purchasing an additional 88 shares during the last quarter. First Command Advisory Services Inc. increased its stake in Micron Technology by 225.0% during the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 153 shares in the last quarter. Finally, Osterweis Capital Management Inc. raised its holdings in shares of Micron Technology by 205.5% in the third quarter. Osterweis Capital Management Inc. now owns 223 shares of the semiconductor manufacturer’s stock worth $37,000 after buying an additional 150 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

About Micron Technology

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.