Micron Technology (NASDAQ:MU) Price Target Raised to $1,220.00 at Wells Fargo & Company

Micron Technology (NASDAQ:MU) had its price target upped by analysts at Wells Fargo & Company from $550.00 to $1,220.00 in a research note issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the semiconductor manufacturer’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 27.81% from the stock’s previous close.

A number of other research firms have also issued reports on MU. JPMorgan Chase & Co. upped their target price on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a report on Thursday, March 19th. Royal Bank Of Canada upped their target price on shares of Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a report on Monday, March 16th. UBS Group upped their target price on shares of Micron Technology from $535.00 to $1,625.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. DA Davidson assumed coverage on shares of Micron Technology in a report on Monday, May 11th. They set a “buy” rating and a $1,000.00 target price for the company. Finally, Morgan Stanley upped their target price on shares of Micron Technology from $520.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, June 3rd. Five research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $690.97.

Micron Technology Price Performance

NASDAQ MU traded up $90.55 on Monday, hitting $954.56. The company had a trading volume of 33,912,750 shares, compared to its average volume of 43,824,938. The company has a market capitalization of $1.08 trillion, a PE ratio of 45.14 and a beta of 2.15. The company’s fifty day moving average price is $617.28 and its 200-day moving average price is $439.38. 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 has a 12-month low of $103.38 and a 12-month high of $1,089.29.

Micron Technology (NASDAQ:MU) last released its earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The business had revenue of $23.86 billion during the quarter, compared to analyst estimates of $19.97 billion. During the same quarter in the prior year, the firm earned $1.56 earnings per share. The company’s revenue for the quarter was up 196 compared to the same quarter last year. As a group, analysts predict that Micron Technology will post 58.79 earnings per share for the current year.

Insider Activity

In related news, Director Steven J. Gomo sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the completion of the sale, the director owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Sanjay Mehrotra sold 37,439 shares of the company’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $960.38, for a total transaction of $35,955,666.82. Following the completion of the sale, the chief executive officer directly owned 387,064 shares of the company’s stock, valued at $371,728,524.32. This represents a 8.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 146,000 shares of company stock worth $85,486,715. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Micron Technology in the first quarter valued at about $27,000. High Note Wealth LLC lifted its position in Micron Technology by 65.4% in the fourth quarter. High Note Wealth LLC now owns 86 shares of the semiconductor manufacturer’s stock valued at $25,000 after buying an additional 34 shares during the last quarter. Elevation Wealth Partners LLC lifted its position in Micron Technology by 295.8% in the fourth quarter. Elevation Wealth Partners LLC now owns 95 shares of the semiconductor manufacturer’s stock valued at $27,000 after buying an additional 71 shares during the last quarter. Steigerwald Gordon & Koch Inc. lifted its position in Micron Technology by 4,800.0% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 98 shares of the semiconductor manufacturer’s stock valued at $28,000 after buying an additional 96 shares during the last quarter. Finally, Bayban acquired a new position in Micron Technology in the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 80.84% of the company’s stock.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Cantor Fitzgerald raised its price target on Micron to $1,500 from $700 and reiterated an overweight rating, signaling substantial upside potential for the stock.
• Positive Sentiment: Wells Fargo also boosted its target on Micron to $1,220 from $550 while maintaining a Buy rating, adding to the bullish Wall Street backdrop.
• Positive Sentiment: Analysts say the memory trade remains strong, with long-term supply agreements improving earnings visibility and supporting the view that demand for memory chips is still healthy.
• Positive Sentiment: Micron is rebounding alongside other AI and semiconductor names after the prior week’s sector pullback, helped by renewed buying in memory-stock names such as Western Digital and SanDisk.
• Positive Sentiment: Recent commentary tied Micron’s move to continued strength in AI-related demand, including news that rival SK Hynix’s deal with Nvidia reinforced optimism around the broader memory-chip cycle.
• Neutral Sentiment: Some articles raised concerns about semiconductor cyclicality and whether AI demand could eventually cool, but these worries have not outweighed the current bullish sentiment.
• Negative Sentiment: Micron is also coming off a steep decline last week, and the stock remains vulnerable to volatility if investors rotate out of high-flying AI names again.

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.