Micron Technology (NASDAQ:MU) Sets New 52-Week High Following Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s stock price hit a new 52-week high on Monday after TD Cowen raised their price target on the stock from $660.00 to $1,500.00. TD Cowen currently has a buy rating on the stock. Micron Technology traded as high as $1,092.07 and last traded at $1,090.2550, with a volume of 31608154 shares traded. The stock had previously closed at $981.61.

Several other brokerages have also recently weighed in on MU. Royal Bank Of Canada boosted their price objective on Micron Technology from $525.00 to $1,200.00 and gave the stock an “outperform” rating in a report on Monday. Needham & Company LLC boosted their price objective on Micron Technology from $450.00 to $500.00 and gave the stock a “buy” rating in a report on Thursday, March 19th. Citigroup boosted their price objective on Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a report on Tuesday, May 19th. Melius Research assumed coverage on Micron Technology in a report on Monday, April 27th. They set a “buy” rating and a $700.00 price objective for the company. Finally, Wells Fargo & Company boosted their price objective on Micron Technology from $550.00 to $1,220.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $788.13.

Insiders Place Their Bets

In other news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. This represents a 9.68% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $536.26, for a total value of $21,450,400.00. Following the completion of the sale, the chief executive officer directly owned 424,503 shares of the company’s stock, valued at approximately $227,643,978.78. The trade was a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 146,000 shares of company stock valued at $85,486,715 over the last 90 days. 0.24% of the stock is owned by company insiders.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Micron received a major bullish boost after TD Cowen raised its price target to $1,500 and reiterated a buy rating, highlighting strong AI-driven memory demand. Benzinga
• Positive Sentiment: Multiple reports say chip and memory stocks are surging as the AI trade stays strong and memory-chip shortages support a prolonged industry upcycle. Investopedia
• Positive Sentiment: Analysts and market commentary continue to frame Micron as a key beneficiary of AI memory demand, with elevated price targets and strong expectations heading into June 24 earnings. Zacks
• Neutral Sentiment: Investors are also watching social-media chatter and momentum indicators, with some noting Micron’s run-up has left the stock extended and potentially overbought near record highs. Quiver Quantitative
• Neutral Sentiment: One article argues Micron’s post-Broadcom drop may have been overdone, suggesting dip buyers were rewarded as the broader AI-chip rally resumed. Benzinga
• Negative Sentiment: Some recent commentary warns that Micron’s rapid climb may be too stretched, with one piece arguing the stock is now highly overbought and vulnerable to a pullback. Finbold

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Heritage Trust Co raised its stake in shares of Micron Technology by 9.7% in the fourth quarter. Heritage Trust Co now owns 15,026 shares of the semiconductor manufacturer’s stock worth $4,289,000 after buying an additional 1,323 shares during the period. Generation Capital Management LLC bought a new position in shares of Micron Technology in the third quarter worth about $238,000. Westpac Banking Corp raised its stake in shares of Micron Technology by 251.0% in the third 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 during the period. Avanda Investment Management Pte. Ltd. bought a new position in shares of Micron Technology in the third quarter worth about $418,000. Finally, Wellington Management Group LLP raised its stake in 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 valued at $1,196,427,000 after purchasing an additional 1,188,296 shares during the period. Institutional investors own 80.84% of the company’s stock.

Micron Technology Price Performance

The firm has a 50 day moving average of $677.58 and a 200-day moving average of $465.20. The company has a market cap of $1.23 trillion, a P/E ratio of 51.44 and a beta of 2.16. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13.

Micron Technology (NASDAQ:MU) last issued its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) 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 the consensus estimate of $19.97 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The firm’s quarterly revenue was up 196 on a year-over-year basis. During the same quarter last year, the company earned $1.56 EPS. On average, equities research analysts predict that Micron Technology, Inc. will post 59.23 EPS for the current year.

Micron Technology Increases Dividend

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