Micron Technology (NASDAQ:MU) Price Target Raised to $510.00

Micron Technology (NASDAQ:MU) had its price target hoisted by Sanford C. Bernstein from $330.00 to $510.00 in a report released on Wednesday morning,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the semiconductor manufacturer’s stock.

MU has been the topic of several other research reports. Piper Sandler boosted their price target on Micron Technology from $275.00 to $400.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 7th. William Blair started coverage on shares of Micron Technology in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Wall Street Zen upgraded Micron Technology from a “buy” rating to a “strong-buy” rating in a research report on Sunday, November 23rd. UBS Group upped their target price on shares of Micron Technology to $475.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Wolfe Research increased their price target on Micron Technology from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $453.55.

Micron Technology Stock Performance

NASDAQ:MU opened at $422.81 on Wednesday. The firm’s fifty day simple moving average is $402.64 and its 200 day simple moving average is $283.04. The firm has a market capitalization of $475.87 billion, a price-to-earnings ratio of 19.96 and a beta of 1.50. Micron Technology has a twelve month low of $61.54 and a twelve month high of $471.34. The company has a current ratio of 2.90, a quick ratio of 1.78 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 for the quarter, topping the consensus estimate of $8.50 by $3.70. The company had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $18.90 billion. Micron Technology had a return on equity of 41.16% and a net margin of 41.49%.The company’s revenue was up 196.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.56 earnings per share. As a group, equities research analysts expect that Micron Technology will post 6.08 earnings per share for the current fiscal year.

Micron Technology Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, March 30th. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is currently 2.17%.

Insider Buying and Selling at Micron Technology

In related news, EVP Sumit Sadana sold 25,000 shares of Micron Technology stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $429.89, for a total value of $10,747,250.00. Following the completion of the sale, the executive vice president directly owned 248,021 shares in the company, valued at $106,621,747.69. This trade represents a 9.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP April S. Arnzen sold 15,000 shares of Micron Technology stock in a transaction that occurred on Monday, December 22nd. The stock was sold at an average price of $277.09, for a total transaction of $4,156,350.00. Following the sale, the executive vice president owned 165,618 shares of the company’s stock, valued at approximately $45,891,091.62. This represents a 8.30% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders purchased 23,200 shares of company stock valued at $7,821,723 and sold 68,623 shares valued at $25,989,258. 0.24% of the stock is owned by company insiders.

Institutional Investors Weigh In On Micron Technology

A number of institutional investors have recently made changes to their positions in MU. Vanguard Group Inc. increased its position in shares of Micron Technology by 1.9% during the fourth quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after acquiring an additional 1,954,644 shares in the last quarter. State Street Corp increased its position in shares of Micron Technology by 2.1% during 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 last quarter. Capital International Investors increased its holdings in Micron Technology by 0.7% during the third quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after buying an additional 155,860 shares during the last quarter. Norges Bank acquired a new position in shares of Micron Technology during the 4th quarter worth about $6,433,456,000. Finally, Morgan Stanley increased its position in Micron Technology by 5.1% during the fourth quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock worth $4,679,771,000 after buying an additional 794,289 shares during the last quarter. 80.84% of the stock is owned by institutional investors and hedge funds.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Q2 blowout: Micron reported huge revenue and EPS beats and raised forward guidance, reinforcing AI-driven DRAM/HBM demand and pricing power. Micron’s Mic?Drop Quarter: AI Memory Demand Supercharged Earnings
• Positive Sentiment: Wall Street lifts price targets and reiterates buys (multiple firms raised PTs substantially), signaling analyst conviction in a sustained AI memory cycle. Bank of America revamps Micron stock price target post earnings
• Positive Sentiment: Supply tightness/HBM momentum: Micron has started volume shipments of HBM4 and analysts highlight persistent HBM shortages that support pricing and margins. Micron Announces Starting Volume Shipment of HBM4 36GB
• Neutral Sentiment: Technical/volatility notes: commentators flag a fast breakout then pullback — some view current action as a potential re-entry/buy-the-dip opportunity while others warn of resistance and a possible bull trap. Is This A Bull Trap For Micron Technology?
• Negative Sentiment: Heavy capex warning: management plans “meaningfully” higher capital spending to expand capacity — investors fear margin pressure and near?term cash intensity despite long?term payoff. Micron shares slip as hefty spending plans eclipse strong AI?fueled earnings
• Negative Sentiment: Sell?the?news & downgrade noise: despite stellar results, the stock has seen pullbacks driven by profit?taking, an analyst downgrade or cautionary notes about sustainability of the cycle. Why Micron (MU) Stock Is Down Today
• Negative Sentiment: Macro/geopolitical risk: recent Middle East energy infrastructure attacks are cited as an additional market headwind that contributed to post?earnings weakness. Why attack on Qatar’s energy facility is bearish for Micron

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.