Micron Technology (NASDAQ:MU) Stock Price Up 3.6% Following Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU) rose 3.6% during trading on Wednesday after Susquehanna raised their price target on the stock from $600.00 to $1,750.00. Susquehanna currently has a positive rating on the stock. Micron Technology traded as high as $956.16 and last traded at $928.41. Approximately 71,193,868 shares were traded during mid-day trading, an increase of 65% from the average daily volume of 43,220,543 shares. The stock had previously closed at $895.88.

A number of other research analysts have also recently commented on the stock. Phillip Securities upgraded shares of Micron Technology to a “strong-buy” rating in a report on Monday, February 2nd. The Goldman Sachs Group upped their price objective on shares of Micron Technology from $360.00 to $400.00 and gave the stock a “neutral” rating in a research note on Thursday, March 19th. Barclays upped their price objective on shares of Micron Technology from $450.00 to $675.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Melius Research initiated coverage on shares of Micron Technology in a research note on Monday, April 27th. They issued a “buy” rating and a $700.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their price objective on shares of Micron Technology from $350.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, March 19th. Five investment 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 company’s stock. According to data from MarketBeat.com, Micron Technology has an average rating of “Buy” and a consensus price target of $595.63.

Insider Buying and Selling at Micron Technology

In other Micron Technology news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total transaction of $1,574,060.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $421.35, for a total transaction of $10,112,400.00. Following the sale, the executive vice president directly owned 224,021 shares of the company’s stock, valued at approximately $94,391,248.35. The trade was a 9.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 106,000 shares of company stock valued at $47,032,460 in the last ninety days. 0.24% of the stock is owned by insiders.

Key Headlines Impacting Micron Technology

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

• Positive Sentiment: Susquehanna ????? raised its price target on Micron to $1,750 from $600 and kept a positive stance, reinforcing the view that AI memory demand can support substantially more upside. Micron price target hike
• Positive Sentiment: UBS also boosted its target to $1,625 from $535, while other analysts pointed to record margins and strong pricing in DRAM, NAND, and HBM as proof that the AI memory boom is still gaining momentum. Analyst optimism on Micron
• Positive Sentiment: Several articles highlighted Micron’s recent financial strength, including revenue growth of 56.6% year over year and a cloud memory business that nearly doubled, which supports the thesis that the company is becoming an essential AI infrastructure supplier. Micron five-year outlook
• Positive Sentiment: Hedge-fund filings and media coverage showed prominent investors and commentators adding to or praising Micron positions, including David Tepper, Ray Dalio, and Jim Cramer’s “trillion-dollar club” comments, which adds to bullish sentiment. Hedge fund buying
• Neutral Sentiment: Micron is also drawing attention to a possible stock split after its huge run and $1 trillion-plus valuation, but that would mainly affect trading psychology rather than fundamentals. Stock split speculation
• Negative Sentiment: Some coverage warned that Micron now faces tougher competition from Samsung and SK Hynix, and one Seeking Alpha piece argued the stock could be vulnerable to a “trillion-dollar trap” if HBM4E cannibalization or a depreciation cliff hits results later. Bearish Micron article

Institutional Trading of Micron Technology

Several hedge funds have recently modified their holdings of the company. Signature Equity Partners LLC boosted its holdings in Micron Technology by 6.3% in the 1st quarter. Signature Equity Partners LLC now owns 253 shares of the semiconductor manufacturer’s stock valued at $86,000 after purchasing an additional 15 shares during the period. Clearwater Capital Advisors LLC boosted its holdings in Micron Technology by 1.1% in the 1st quarter. Clearwater Capital Advisors LLC now owns 1,617 shares of the semiconductor manufacturer’s stock valued at $546,000 after purchasing an additional 18 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Micron Technology by 10.3% in the 1st quarter. Capital Advisors Ltd. LLC now owns 247 shares of the semiconductor manufacturer’s stock valued at $83,000 after purchasing an additional 23 shares during the period. Manning & Napier Advisors LLC boosted its holdings in Micron Technology by 2.4% in the 4th quarter. Manning & Napier Advisors LLC now owns 1,030 shares of the semiconductor manufacturer’s stock valued at $301,000 after purchasing an additional 24 shares during the period. Finally, SWAN Capital LLC boosted its holdings in Micron Technology by 9.7% in the 4th quarter. SWAN Capital LLC now owns 271 shares of the semiconductor manufacturer’s stock valued at $77,000 after purchasing an additional 24 shares during the period. 80.84% of the stock is owned by hedge funds and other institutional investors.

Micron Technology Stock Performance

The company’s fifty day simple moving average is $547.31 and its 200 day simple moving average is $407.37. The company has a current ratio of 2.90, a quick ratio of 2.32 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $1.07 trillion, a P/E ratio of 44.82 and a beta of 1.91.

Micron Technology (NASDAQ:MU) last announced its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, beating the consensus estimate of $9.19 by $3.01. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The firm had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. During the same period last year, the firm earned $1.56 EPS. The business’s quarterly revenue was up 196 compared to the same quarter last year. As a group, sell-side analysts forecast that Micron Technology, Inc. will post 57.82 earnings per share for the current fiscal year.

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 issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.1%. The ex-dividend date of this dividend was Monday, March 30th. This is a positive change from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s payout ratio is 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.