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

Micron Technology, Inc. (NASDAQ:MU) shares gapped up prior to trading on Monday after Cantor Fitzgerald raised their price target on the stock from $700.00 to $1,500.00. The stock had previously closed at $864.01, but opened at $938.27. Cantor Fitzgerald currently has an overweight rating on the stock. Micron Technology shares last traded at $929.0830, with a volume of 13,428,315 shares changing hands.

A number of other research analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Micron Technology in a report on Tuesday, May 12th. Erste Group Bank cut shares of Micron Technology from a “buy” rating to a “hold” rating in a report on Thursday, April 2nd. DA Davidson began coverage on shares of Micron Technology in a report on Monday, May 11th. They issued a “buy” rating and a $1,000.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Finally, Susquehanna lifted their price objective on shares of Micron Technology from $600.00 to $1,750.00 and gave the company a “positive” rating in a report on Friday, May 29th. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Micron Technology presently has a consensus rating of “Buy” and an average price target of $668.63.

Insider Activity at Micron Technology

In related news, Director Steven J. Gomo sold 2,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the transaction, the director directly owned 17,139 shares in the company, valued at approximately $13,488,907.17. The trade was a 10.45% 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 24,000 shares of the business’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the transaction, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 146,000 shares of company stock worth $85,486,715 over the last three months. Company insiders own 0.24% of the company’s stock.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Cantor Fitzgerald raised its price target on Micron to $1,500 from $700 and reiterated an overweight rating, signaling substantial upside potential for the stock.
• Positive Sentiment: Wells Fargo also boosted its target on Micron to $1,220 from $550 while maintaining a Buy rating, adding to the bullish Wall Street backdrop.
• Positive Sentiment: Analysts say the memory trade remains strong, with long-term supply agreements improving earnings visibility and supporting the view that demand for memory chips is still healthy.
• Positive Sentiment: Micron is rebounding alongside other AI and semiconductor names after the prior week’s sector pullback, helped by renewed buying in memory-stock names such as Western Digital and SanDisk.
• Positive Sentiment: Recent commentary tied Micron’s move to continued strength in AI-related demand, including news that rival SK Hynix’s deal with Nvidia reinforced optimism around the broader memory-chip cycle.
• Neutral Sentiment: Some articles raised concerns about semiconductor cyclicality and whether AI demand could eventually cool, but these worries have not outweighed the current bullish sentiment.
• Negative Sentiment: Micron is also coming off a steep decline last week, and the stock remains vulnerable to volatility if investors rotate out of high-flying AI names again.

Hedge Funds Weigh In On Micron Technology

Institutional investors and hedge funds have recently bought and sold shares of the business. REAP Financial Group LLC acquired a new position in Micron Technology during the third quarter worth about $25,000. High Note Wealth LLC boosted its position in Micron Technology by 65.4% during the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after acquiring an additional 34 shares during the last quarter. Elevation Wealth Partners LLC boosted its position in Micron Technology by 295.8% during the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock worth $27,000 after acquiring an additional 71 shares during the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Micron Technology during the first quarter worth about $27,000. Finally, Steigerwald Gordon & Koch Inc. boosted its holdings in Micron Technology by 4,800.0% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after purchasing an additional 96 shares during the last quarter. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology Stock Up 10.1%

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 company has a market capitalization of $1.07 trillion, a price-to-earnings ratio of 45.15 and a beta of 2.15. The firm’s fifty day simple moving average is $617.28 and its two-hundred day simple moving average is $439.38.

Micron Technology (NASDAQ:MU) last posted its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share for the quarter, beating the consensus estimate of $9.19 by $3.01. The company had revenue of $23.86 billion for the quarter, compared to analyst estimates of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. Micron Technology’s revenue was up 196 on a year-over-year basis. During the same period in the previous year, the business posted $1.56 EPS. Sell-side analysts anticipate that Micron Technology, Inc. will post 58.79 EPS for the current year.

Micron Technology Increases Dividend

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

About Micron Technology

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.