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

Shares of Micron Technology, Inc. (NASDAQ:MU) gapped up prior to trading on Wednesday after Citigroup raised their price target on the stock from $425.00 to $840.00. The stock had previously closed at $698.74, but opened at $734.96. Citigroup currently has a buy rating on the stock. Micron Technology shares last traded at $712.4750, with a volume of 10,165,002 shares traded.

A number of other brokerages have also issued reports on MU. Morgan Stanley boosted their price target on Micron Technology from $350.00 to $450.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Susquehanna lifted their target price on Micron Technology from $345.00 to $525.00 and gave the company a “positive” rating in a research report on Monday, March 9th. William Blair assumed coverage on Micron Technology in a report on Thursday, January 22nd. They issued an “outperform” rating for the company. Deutsche Bank Aktiengesellschaft increased their price target on Micron Technology from $500.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, March 19th. Finally, Phillip Securities upgraded Micron Technology to a “strong-buy” rating in a report on Monday, February 2nd. Five analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $518.47.

Insider Buying and Selling

In other news, EVP Sumit Sadana sold 24,000 shares of the firm’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the sale, the executive vice president directly owned 224,021 shares in the company, valued at approximately $94,391,248.35. This trade represents a 9.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Gomo sold 2,000 shares of Micron Technology stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of 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 position. The SEC filing for this sale provides additional information. Insiders sold 106,000 shares of company stock worth $47,032,460 in the last three months. 0.24% of the stock is owned by company insiders.

Key Stories Impacting Micron Technology

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

• Positive Sentiment: Micron shares are rising on the possibility that a Samsung labor dispute could disrupt supply and further strengthen memory-chip pricing. Micron Stock Rises as Memory-Chip Rival Faces Threat of Strike
• Positive Sentiment: Analysts at Citi and Mizuho raised their price targets on Micron, reinforcing the view that the stock still has meaningful upside after its recent rally. Why Micron Stock Just Popped Again
• Positive Sentiment: Several pieces argue that Micron remains a major AI beneficiary, with higher-capacity server memory and enterprise storage demand supporting a longer-term earnings and margin story. How Micron (MU) Is Targeting AI Data Centers With Higher-Capacity Server Memory
• Positive Sentiment: Market commentary also points to a broader AI memory supercycle, with strong revenue growth across the sector suggesting pricing power is improving for Micron and peers. Micron’s AI Profit Boom And US$150b Bet Reshape Memory Cycle Narrative
• Neutral Sentiment: Some analysts caution that memory stocks remain cyclical and that valuation and macro risks could still create volatility even with strong AI-driven demand. Micron Stock Drops But There’s Still Reason to Back Memory Chips
• Negative Sentiment: Micron was heavily sold earlier this week on worries about memory demand, valuation after a big run, and semiconductor-sector weakness, which helps explain the recent volatility. Stock Market Today, May 18: Micron Falls as Memory Concerns Test AI Rally

Institutional Trading of Micron Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. REAP Financial Group LLC acquired a new position in shares of Micron Technology during the third quarter valued at about $25,000. High Note Wealth LLC grew its position in Micron Technology by 65.4% during the 4th quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock worth $25,000 after purchasing an additional 34 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in Micron Technology by 295.8% during the 4th quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after purchasing an additional 71 shares in the last quarter. Kohmann Bosshard Financial Services LLC acquired a new position in Micron Technology during the 1st quarter valued at approximately $27,000. Finally, Steigerwald Gordon & Koch Inc. raised its holdings in shares of Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock worth $28,000 after buying an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Trading Up 1.2%

The stock’s fifty day simple moving average is $491.35 and its 200-day simple moving average is $378.29. The firm has a market cap of $797.40 billion, a PE ratio of 33.48 and a beta of 1.91. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.90 and a quick ratio of 2.32.

Micron Technology Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date was Monday, March 30th. This is a boost 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.