Micron Technology (NASDAQ:MU) Sets New 12-Month High After Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s share price hit a new 52-week high during mid-day trading on Monday after Needham & Company LLC raised their price target on the stock from $500.00 to $1,550.00. Needham & Company LLC currently has a buy rating on the stock. Micron Technology traded as high as $1,197.66 and last traded at $1,188.1640, with a volume of 2781633 shares. The stock had previously closed at $1,133.99.

A number of other brokerages have also weighed in on MU. KeyCorp lifted their price objective on Micron Technology from $450.00 to $600.00 and gave the company an “overweight” rating in a report on Thursday, March 19th. Rosenblatt Securities increased their target price on Micron Technology from $600.00 to $1,200.00 and gave the stock a “buy” rating in a research note on Thursday. DA Davidson began 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. The Goldman Sachs Group lifted their price target on Micron Technology from $400.00 to $900.00 and gave the company a “neutral” rating in a research note on Wednesday, June 10th. Finally, Cantor Fitzgerald upped their price objective on Micron Technology from $700.00 to $1,500.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Five 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’s stock. Based on data from MarketBeat.com, Micron Technology currently has a consensus rating of “Buy” and a consensus price target of $974.80.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were 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 $227,643,978.78. This trade represents a 8.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP April S. Arnzen sold 40,000 shares of Micron Technology stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the sale, the executive vice president 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 146,000 shares of company stock valued at $85,486,715. 0.24% of the stock is currently owned by corporate insiders.

Trending Headlines about Micron Technology

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

• Positive Sentiment: Micron announced a strategic agreement with Anthropic to scale next-generation AI infrastructure, strengthening its role in AI memory and storage demand. Micron and Anthropic Announce Strategic Agreement to Scale Next-Generation AI Infrastructure
• Positive Sentiment: Wall Street continues to raise price targets on Micron as AI-related memory demand and earnings expectations stay strong. Micron Technology PT Raised to $1,550 at Needham
• Neutral Sentiment: Options traders are bracing for a big move after Micron’s June 24 earnings report, underscoring how high expectations are heading into the event. Micron Is About to Report Q3 Earnings; Options Traders Brace for a 14% Price Swing in MU Stock
• Negative Sentiment: Some commentary warns that Micron’s rally may have already priced in a lot of good news, leaving the stock vulnerable if earnings or guidance disappoint. Micron Must Do This on June 24, or Its Stock Could Crash

Institutional Trading of Micron Technology

Several hedge funds and other institutional investors have recently bought and sold shares of MU. Brighton Jones LLC grew its position in shares of Micron Technology by 18.3% in the fourth quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock valued at $532,000 after purchasing an additional 976 shares during the period. Sivia Capital Partners LLC boosted its stake in Micron Technology by 21.7% in the 2nd quarter. Sivia Capital Partners LLC now owns 3,528 shares of the semiconductor manufacturer’s stock worth $435,000 after buying an additional 628 shares during the last quarter. United Bank acquired a new stake in Micron Technology in the 2nd quarter worth about $236,000. Schnieders Capital Management LLC. grew its holdings in Micron Technology by 67.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 16,984 shares of the semiconductor manufacturer’s stock valued at $2,093,000 after buying an additional 6,867 shares during the period. Finally, Sei Investments Co. increased its stake in shares of Micron Technology by 5.6% during the 2nd quarter. Sei Investments Co. now owns 405,545 shares of the semiconductor manufacturer’s stock valued at $49,987,000 after acquiring an additional 21,619 shares during the last quarter. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

The company’s fifty day moving average price is $748.09 and its two-hundred day moving average price is $495.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90. The firm has a market capitalization of $1.36 trillion, a PE ratio of 56.69 and a beta of 2.15.

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.