Micron Technology (NASDAQ:MU) Cut to Hold at Summit Insights

Summit Insights lowered shares of Micron Technology (NASDAQ:MU) from a buy rating to a hold rating in a research note issued to investors on Thursday morning, MarketBeat.com reports.

Several other research firms have also recently weighed in on MU. HSBC upped their price objective on shares of Micron Technology from $350.00 to $500.00 and gave the stock a “buy” rating in a research report on Friday, January 23rd. JPMorgan Chase & Co. upped their price objective on Micron Technology from $220.00 to $350.00 and gave the stock an “overweight” rating in a report on Thursday, December 18th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Micron Technology in a research report on Thursday, January 29th. Susquehanna boosted their price objective on shares of Micron Technology from $345.00 to $525.00 and gave the stock a “positive” rating in a report on Monday, March 9th. Finally, Cantor Fitzgerald boosted their target price on Micron Technology from $350.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Five investment analysts have rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $453.55.

Micron Technology Price Performance

Shares of NASDAQ MU opened at $422.81 on Thursday. The stock has a fifty day moving average of $402.64 and a 200-day moving average of $284.19. Micron Technology has a fifty-two week low of $61.54 and a fifty-two week high of $471.34. The stock has a market cap of $475.87 billion, a PE ratio of 19.96 and a beta of 1.50. The company has a debt-to-equity ratio of 0.13, a quick ratio of 1.78 and a current ratio of 2.90.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $8.50 by $3.70. The firm had revenue of $23.86 billion for the quarter, compared to the consensus estimate of $18.90 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company’s revenue for the quarter was up 196.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.56 earnings per share. Equities research analysts anticipate that Micron Technology will post 6.08 earnings per share for the current year.

Micron Technology Increases Dividend

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

Insider Buying and Selling

In related news, Director Teyin M. Liu acquired 7,820 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was acquired at an average cost of $337.50 per share, for a total transaction of $2,639,250.00. Following the acquisition, the director owned 25,910 shares of the company’s stock, valued at $8,744,625. This trade represents a 43.23% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP April S. Arnzen sold 15,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 165,618 shares of the company’s stock, valued at approximately $45,891,091.62. This represents a 8.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have bought 23,200 shares of company stock valued at $7,821,723 and have sold 68,623 shares valued at $25,989,258. Insiders own 0.24% of the company’s stock.

Hedge Funds Weigh In On Micron Technology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of Micron Technology by 18.3% during the 4th quarter. Brighton Jones LLC now owns 6,318 shares of the semiconductor manufacturer’s stock worth $532,000 after acquiring an additional 976 shares during the period. Sivia Capital Partners LLC raised its position in shares of 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 acquiring an additional 628 shares in the last quarter. United Bank purchased a new position in shares of Micron Technology in the 2nd quarter valued at approximately $236,000. Schnieders Capital Management LLC. lifted its stake in shares of 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 purchasing an additional 6,867 shares during the period. Finally, Kingsview Wealth Management LLC boosted its position in shares of Micron Technology by 12.5% during the second quarter. Kingsview Wealth Management LLC now owns 5,964 shares of the semiconductor manufacturer’s stock valued at $735,000 after purchasing an additional 661 shares in the last quarter. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology News Summary

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.