Micron Technology (NASDAQ:MU) Shares Down 1.6% – What’s Next?

Micron Technology, Inc. (NASDAQ:MU)’s stock price was down 1.6% during mid-day trading on Thursday. The company traded as low as $764.57 and last traded at $798.44. 26,873,243 shares changed hands during trading, a decline of 33% from the average session volume of 40,240,645 shares. The stock had previously closed at $811.30.

Key Micron Technology News

Investors following MU have been watching these news items:

• Positive Sentiment: CoreWeave raised its outlook and described demand for AI computing as exceptionally strong, easing concerns that infrastructure spending is slowing. Because data-center operators use Micron’s memory products, the news supports expectations for continued demand. Micron Stock Jumps as CoreWeave Outlook Eases AI Spending Fears
• Positive Sentiment: Reports that much of Micron’s high-bandwidth memory production for next year is already committed point to tight supply and strong customer demand, supporting the company’s pricing outlook. Micron Has Next Year’s High-Bandwidth Memory Mostly Sold
• Positive Sentiment: Micron committed $1 billion to Anthropic’s reported infrastructure IPO placement, strengthening its ties to a major AI company, though the investment also represents a substantial capital commitment. Micron Commits $1 Billion to AI Infrastructure IPO

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MU shares. CLSA reissued an “outperform” rating and issued a $1,700.00 price target on shares of Micron Technology in a report on Friday, October 2nd. Wedbush reaffirmed an “outperform” rating and set a $1,400.00 price objective on shares of Micron Technology in a report on Monday, September 28th. TD Cowen reiterated a “buy” rating and issued a $1,600.00 target price on shares of Micron Technology in a research report on Thursday, October 1st. Sanford C. Bernstein reissued an “outperform” rating on shares of Micron Technology in a research note on Thursday, October 1st. Finally, KeyCorp restated an “overweight” rating on shares of Micron Technology in a research report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,407.88.

Micron Technology Price Performance

The company has a 50-day moving average of $950.48 and a 200 day moving average of $760.41. The company has a quick ratio of 2.94, a current ratio of 3.31 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $903.37 billion, a PE ratio of 10.76, a PEG ratio of 0.13 and a beta of 2.36.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 earnings per share for the quarter, beating analysts’ consensus estimates of $31.77 by $1.65. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. The company had revenue of $54.23 billion for the quarter, compared to analyst estimates of $51.33 billion. During the same quarter last year, the firm posted $3.03 EPS. The firm’s revenue for the quarter was up 379.1% on a year-over-year basis. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Sell-side analysts predict that Micron Technology, Inc. will post 175.22 EPS for the current year.

Micron Technology Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 14th. Micron Technology’s dividend payout ratio (DPR) is currently 0.81%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 40,000 shares of the business’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the transaction, the chief executive officer directly owned 264,503 shares in the company, valued at approximately $256,276,956.70. The trade was a 13.14% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Sumit Sadana sold 15,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the sale, the executive vice president directly owned 191,021 shares of the company’s stock, valued at approximately $178,469,010.09. This represents a 7.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 83,545 shares of company stock worth $78,460,850. 0.24% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MU. State Street Corp lifted its position in Micron Technology by 2.1% during the third quarter. State Street Corp now owns 51,123,227 shares of the semiconductor manufacturer’s stock worth $54,451,860,000 after buying an additional 1,047,357 shares in the last quarter. Andar Capital Management HK Ltd boosted its stake in Micron Technology by 856,960.3% during the second quarter. Andar Capital Management HK Ltd now owns 34,282,413 shares of the semiconductor manufacturer’s stock worth $39,571,847,000 after buying an additional 34,278,413 shares during the last quarter. Primecap Management Co. CA purchased a new stake in Micron Technology in the 2nd quarter valued at $22,182,263,000. Bank of America Corp DE grew its holdings in Micron Technology by 26.6% in the 2nd quarter. Bank of America Corp DE now owns 10,174,757 shares of the semiconductor manufacturer’s stock valued at $11,744,621,000 after buying an additional 2,136,470 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Micron Technology in the 2nd quarter worth $8,402,393,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

About Micron Technology

Micron Technology is a semiconductor company that designs and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, and other memory solutions used in computing and electronic devices. Micron’s products serve a range of markets, including data centers, personal computers, smartphones, automotive systems, and industrial applications. The company sells its products and solutions to customers around the world.