Micron Technology (NASDAQ:MU) Shares Up 10.8% on Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price was up 10.8% 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 $1,097.47 and last traded at $1,087.99. Approximately 44,132,515 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 44,494,410 shares. The stock had previously closed at $981.61.

A number of other analysts have also commented on the company. Susquehanna increased their price objective on Micron Technology from $600.00 to $1,750.00 and gave the company a “positive” rating in a research note on Friday, May 29th. Royal Bank Of Canada increased their price objective on Micron Technology from $525.00 to $1,200.00 and gave the company an “outperform” rating in a research note on Monday. Erste Group Bank lowered Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, April 2nd. Stifel Nicolaus increased their price objective on Micron Technology from $360.00 to $550.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, The Goldman Sachs Group increased their price objective on Micron Technology from $400.00 to $900.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $788.13.

Insiders Place Their Bets

In other Micron Technology news, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total value of $13,895,600.00. Following the sale, the executive vice president directly owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction dated 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 directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 146,000 shares of company stock valued at $85,486,715 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

Micron Technology News Roundup

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

• Positive Sentiment: TD Cowen sharply raised its price target on Micron to $1,500 and kept a Buy rating, citing AI-driven memory demand and pricing strength that could extend through 2027. Micron Rallies as TD Cowen Lifts Price Target 127% Ahead of Earnings
• Positive Sentiment: RBC also lifted its target on Micron, saying a stronger memory cycle and AI demand justify a higher valuation, adding to the bullish analyst backdrop. Micron Price Target Raised at RBC on Stronger Memory Cycle, AI Demand
• Positive Sentiment: Multiple articles highlighted ongoing AI-memory shortages and broad semiconductor strength, supporting the view that Micron’s DRAM and NAND pricing could remain firm. Micron Stock Surges as Memory-Chip Shortage Bites
• Neutral Sentiment: Micron is approaching earnings with elevated expectations, and some commentary notes the stock is extremely overbought after a huge run, which could make the next report a volatility event rather than a one-way move. Micron stock turns most overbought in 30 years: Time to sell?
• Neutral Sentiment: Option-market data shows very bearish positioning and unusually high implied volatility, suggesting traders are bracing for a large move and pricing in event risk around earnings and geopolitics. Micron: Why Option Market Prices Key Risks Differently
• Negative Sentiment: Some bearish/contrarian pieces warn that MU’s huge rally has made the stock vulnerable to a pullback if earnings or guidance fail to meet lofty expectations. Micron Q3 Preview: Am I Buying More? No; Am I Done? Not At All (Rating Downgrade)

Institutional Trading of Micron Technology

A number of hedge funds have recently added to or reduced their stakes in MU. Vanguard Group Inc. raised its holdings in shares of Micron Technology by 1.9% in the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after purchasing an additional 1,954,644 shares during the period. State Street Corp raised its holdings in shares of Micron Technology by 2.1% in the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock worth $15,061,310,000 after purchasing an additional 1,090,644 shares during the period. Capital International Investors raised its holdings in shares of Micron Technology by 0.7% in the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after purchasing an additional 155,860 shares during the period. Norges Bank purchased a new position in shares of Micron Technology in the 4th quarter worth about $6,433,456,000. Finally, Morgan Stanley raised its holdings in shares of Micron Technology by 5.1% in the 4th quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock worth $4,679,771,000 after purchasing an additional 794,289 shares during the period. 80.84% of the stock is owned by institutional investors and hedge funds.

Micron Technology Trading Up 10.8%

The business has a fifty day moving average price of $677.58 and a 200 day moving average price of $465.20. The company has a market capitalization of $1.23 trillion, a PE ratio of 51.37 and a beta of 2.16. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

Micron Technology (NASDAQ:MU) last released its quarterly earnings data on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was up 196 compared to the same quarter last year. During the same period last year, the business posted $1.56 EPS. Analysts expect that Micron Technology, Inc. will post 59.23 EPS for the current fiscal year.

Micron Technology Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Monday, March 30th were issued a $0.15 dividend. This is a positive change 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 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.