Micron Technology (NASDAQ:MU) Shares Up 3.6% Following Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU) shares rose 3.6% during trading on Wednesday after Susquehanna raised their price target on the stock from $600.00 to $1,750.00. Susquehanna currently has a positive rating on the stock. Micron Technology traded as high as $956.16 and last traded at $928.41. Approximately 71,193,868 shares were traded during trading, an increase of 65% from the average daily volume of 43,220,543 shares. The stock had previously closed at $895.88.

A number of other equities analysts have also recently weighed in on the company. Barclays upped their price target on Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. KeyCorp upped their price target on Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. UBS Group upped their price target on Micron Technology from $535.00 to $1,625.00 and gave the stock a “buy” rating in a report on Tuesday. DA Davidson initiated coverage on Micron Technology in a report on Monday, May 11th. They issued a “buy” rating and a $1,000.00 price target for the company. Finally, Citigroup upped their price target on Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Micron Technology presently has an average rating of “Buy” and a consensus price target of $595.63.

Insider Activity

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director directly owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. The trade was a 10.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,000 shares of company stock worth $47,032,460 in the last three months. 0.24% of the stock is currently owned by company insiders.

Trending Headlines about Micron Technology

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

• Positive Sentiment: UBS raised Micron’s price target to $1,625 and kept a buy rating, signaling more upside potential as AI memory demand stays strong.
• Positive Sentiment: Susquehanna boosted its target to $1,750 and issued a positive rating, adding to the bullish analyst momentum around Micron Technology (MU).
• Positive Sentiment: Recent coverage emphasized Micron’s rapid revenue growth, margin expansion, and growing importance in AI data-center infrastructure.
• Neutral Sentiment: Several articles discussed Micron’s trillion-dollar market value and potential stock split speculation, which may support interest but do not change fundamentals directly.
• Negative Sentiment: Some commentary warned that the stock’s massive rally could leave it vulnerable to valuation concerns, competition from Samsung and SK Hynix, and a possible “trap” if AI memory demand cools.

Institutional Investors Weigh In On Micron Technology

Several large investors have recently made changes to their positions in the company. Generation Capital Management LLC bought a new position in shares of Micron Technology during the 3rd quarter worth $238,000. Wealthfront Advisers LLC grew its position in shares of Micron Technology by 9.8% during the 3rd quarter. Wealthfront Advisers LLC now owns 95,396 shares of the semiconductor manufacturer’s stock worth $15,962,000 after buying an additional 8,489 shares in the last quarter. Westpac Banking Corp grew its position in shares of Micron Technology by 251.0% during the 3rd quarter. Westpac Banking Corp now owns 23,086 shares of the semiconductor manufacturer’s stock worth $3,863,000 after buying an additional 16,509 shares in the last quarter. Avanda Investment Management Pte. Ltd. bought a new position in shares of Micron Technology during the 3rd quarter worth $418,000. Finally, Wellington Management Group LLP grew its position in shares of Micron Technology by 19.9% during the 3rd quarter. Wellington Management Group LLP now owns 7,150,530 shares of the semiconductor manufacturer’s stock worth $1,196,427,000 after buying an additional 1,188,296 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Stock Up 3.0%

The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $547.31 and a 200-day moving average price of $407.37. The firm has a market cap of $1.07 trillion, a P/E ratio of 44.90 and a beta of 1.91.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.19 by $3.01. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The business had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $19.97 billion. During the same quarter in the prior year, the company earned $1.56 EPS. The business’s revenue was up 196 compared to the same quarter last year. On average, equities analysts forecast that Micron Technology, Inc. will post 57.82 EPS for the current fiscal year.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were paid a dividend of $0.15 per share. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. The ex-dividend date was Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. Micron Technology’s dividend payout ratio (DPR) is currently 2.83%.

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.