Micron Technology (NASDAQ:MU) Trading Down 1.4% – Time to Sell?

Micron Technology, Inc. (NASDAQ:MU)’s stock price traded down 1.4% during trading on Tuesday . The stock traded as low as $854.35 and last traded at $935.89. 71,250,326 shares were traded during mid-day trading, an increase of 61% from the average session volume of 44,266,234 shares. The stock had previously closed at $949.28.

Key Micron Technology News

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

• Positive Sentiment: Wolfe Research and other analysts raised their outlook on Micron, with one new price target highlighting much more upside potential as Wall Street catches up with the stock’s rapid rerating.
• Positive Sentiment: Investor enthusiasm is being supported by strong AI-related memory demand, especially for high-bandwidth memory (HBM) used in advanced AI systems, which reinforces Micron’s role in the AI infrastructure trade.
• Positive Sentiment: Micron also announced progress on its large New York semiconductor manufacturing project by selecting Bechtel as construction partner, signaling continued execution on long-term U.S. capacity expansion. Article Title
• Neutral Sentiment: Coverage across market commentary continues to frame Micron as one of the top AI stocks, with comparisons to peers like Marvell and SanDisk suggesting the broader memory and AI infrastructure group remains in focus.
• Neutral Sentiment: Some articles also note that Micron’s run has been extremely strong year to date, which may be attracting profit-taking and making the stock more sensitive to short-term swings.
• Negative Sentiment: Recent weakness in the stock and broader risk-off sentiment tied to inflation and geopolitical tensions had pressured MU earlier in the week, so the rebound is also partly a recovery from that selloff.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America upped their target price on shares of Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $500.00 target price on shares of Micron Technology in a research note on Monday, March 16th. Royal Bank Of Canada upped their target price on shares of Micron Technology from $425.00 to $525.00 and gave the company an “outperform” rating in a research note on Monday, March 16th. Needham & Company LLC upped their target price on shares of Micron Technology from $450.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 19th. Finally, Mizuho increased their price objective on shares of Micron Technology to $800.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $737.63.

Micron Technology Price Performance

The company’s 50-day moving average price is $652.14 and its 200-day moving average price is $454.31. The company has a market cap of $1.12 trillion, a P/E ratio of 47.02 and a beta of 2.16. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology (NASDAQ:MU) last announced its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business had revenue of $23.86 billion during the quarter, compared to analysts’ expectations of $19.97 billion. During the same quarter in the prior year, the company posted $1.56 earnings per share. The firm’s revenue was up 196 on a year-over-year basis. As a group, sell-side analysts predict that Micron Technology, Inc. will post 59.12 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were issued a dividend of $0.15 per share. The ex-dividend date was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 annualized dividend and a yield of 0.1%. Micron Technology’s dividend payout ratio is currently 2.83%.

Insider Buying and Selling at Micron Technology

In related news, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the transaction, the executive vice president owned 125,737 shares in the company, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director owned 17,139 shares of the company’s stock, valued at $13,488,907.17. The trade was a 10.45% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 146,000 shares of company stock worth $85,486,715. Company insiders own 0.24% of the company’s stock.

Institutional Trading of Micron Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in MU. FAS Wealth Partners Inc. acquired a new position in Micron Technology during the first quarter worth approximately $336,000. Rathbones Group PLC boosted its position in shares of Micron Technology by 31.4% in the first quarter. Rathbones Group PLC now owns 27,152 shares of the semiconductor manufacturer’s stock valued at $9,173,000 after acquiring an additional 6,487 shares during the period. Positano Wealth Management Ltd increased its position in Micron Technology by 54.7% during the first quarter. Positano Wealth Management Ltd now owns 22,733 shares of the semiconductor manufacturer’s stock worth $7,680,000 after acquiring an additional 8,041 shares during the period. Wealthquest Corp bought a new position in Micron Technology during the first quarter worth about $305,000. Finally, Parallel Advisors LLC increased its position in Micron Technology by 26.7% during the first quarter. Parallel Advisors LLC now owns 18,868 shares of the semiconductor manufacturer’s stock worth $6,374,000 after acquiring an additional 3,979 shares during the period. 80.84% of the stock is owned by institutional investors.

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.