Micron Technology (NASDAQ:MU) Stock Price Down 7% – Should You Sell?

Micron Technology, Inc. (NASDAQ:MU)’s share price was down 7% on Wednesday. The stock traded as low as $782.00 and last traded at $795.23. Approximately 35,099,207 shares changed hands during trading, a decline of 13% from the average session volume of 40,190,645 shares. The stock had previously closed at $855.10.

More Micron Technology News

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

• Positive Sentiment: Apple CEO John Ternus expects memory prices to keep climbing beyond the December quarter. Higher prices could support Micron’s revenue and pricing power, although they also increase costs for memory buyers. Apple says it will keep paying more for memory chips
• Negative Sentiment: Investors worried that Democratic victories in the midterm elections could signal a slower AI data-center buildout. Since AI-server demand has helped drive memory shortages, any slowdown could ease supply tightness and weaken Micron’s ability to command higher prices. Why Micron stock is falling today
• Negative Sentiment: The concerns weighed on memory stocks broadly, with Micron, SK Hynix, and SanDisk all retreating as markets reassessed the outlook for AI infrastructure spending. Why election results are spooking memory investors

Analyst Ratings Changes

MU has been the subject of several recent research reports. Mizuho increased their price target on shares of Micron Technology from $1,300.00 to $1,400.00 and gave the stock an “outperform” rating in a research report on Thursday, October 1st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $1,500.00 price objective on shares of Micron Technology in a report on Thursday, October 1st. DA Davidson upped their price objective on Micron Technology from $2,100.00 to $3,000.00 and gave the company a “buy” rating in a research note on Wednesday, October 7th. Raymond James Financial reiterated an “outperform” rating on shares of Micron Technology in a research note on Thursday, October 1st. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Micron Technology in a report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, forty-one have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,407.88.

Micron Technology Stock Down 7.0%

The stock has a market capitalization of $899.74 billion, a price-to-earnings ratio of 10.72, a price-to-earnings-growth ratio of 0.14 and a beta of 2.36. The company has a current ratio of 3.31, a quick ratio of 2.94 and a debt-to-equity ratio of 0.03. The firm’s 50 day simple moving average is $974.91 and its 200-day simple moving average is $749.61.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 EPS for the quarter, topping analysts’ consensus estimates of $31.77 by $1.65. The business had revenue of $54.23 billion during the quarter, compared to analysts’ expectations of $51.33 billion. Micron Technology had a return on equity of 92.62% and a net margin of 63.80%. Micron Technology’s quarterly revenue was up 379.1% on a year-over-year basis. During the same quarter last year, the company posted $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. Equities analysts expect that Micron Technology, Inc. will post 177.03 earnings per share for the current fiscal year.

Micron Technology Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Wednesday, October 14th were given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Wednesday, October 14th. Micron Technology’s payout ratio is currently 0.81%.

Insider Activity at Micron Technology

In other Micron Technology news, CEO Sanjay Mehrotra sold 40,000 shares of the company’s stock in a transaction on Friday, August 21st. The shares were sold at an average price of $968.90, for a total transaction of $38,756,000.00. Following the sale, the chief executive officer owned 264,503 shares of the company’s stock, valued at approximately $256,276,956.70. This represents a 13.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sumit Sadana sold 15,000 shares of Micron Technology stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $934.29, for a total value of $14,014,350.00. Following the completion of the transaction, the executive vice president directly owned 191,021 shares of the company’s stock, valued at approximately $178,469,010.09. This trade represents a 7.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 83,545 shares of company stock worth $78,460,850 in the last quarter. 0.24% of the stock is owned by insiders.

Institutional Investors Weigh In On Micron Technology

Large investors have recently added to or reduced their stakes in the business. Gryphon Financial Partners LLC raised its holdings in Micron Technology by 6.8% during the third quarter. Gryphon Financial Partners LLC now owns 8,215 shares of the semiconductor manufacturer’s stock worth $8,750,000 after buying an additional 520 shares during the last quarter. M&G PLC grew its holdings in shares of Micron Technology by 11.1% during the third quarter. M&G PLC now owns 66,707 shares of the semiconductor manufacturer’s stock valued at $71,043,000 after buying an additional 6,645 shares during the last quarter. Vestor Capital LLC grew its holdings in shares of Micron Technology by 1,834.3% during the third quarter. Vestor Capital LLC now owns 4,565 shares of the semiconductor manufacturer’s stock valued at $4,862,000 after buying an additional 4,329 shares during the last quarter. Kestra Investment Management LLC increased its position in shares of Micron Technology by 38.4% during the third quarter. Kestra Investment Management LLC now owns 11,728 shares of the semiconductor manufacturer’s stock worth $12,492,000 after acquiring an additional 3,257 shares in the last quarter. Finally, Palacios Wealth Management LLC increased its position in shares of Micron Technology by 17.3% during the third quarter. Palacios Wealth Management LLC now owns 1,546 shares of the semiconductor manufacturer’s stock worth $1,647,000 after acquiring an additional 228 shares in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

About Micron Technology

Micron Technology, Inc is a semiconductor company that develops and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, memory modules, and other semiconductor solutions used in data centers, personal computers, smartphones, automotive systems, industrial equipment, and consumer electronics.

The company also provides high-bandwidth memory and other advanced memory technologies designed to support artificial intelligence, high-performance computing, networking, and graphics applications.