Micron Technology (NASDAQ:MU) Shares Climb 2.6% – Still a Buy?

Micron Technology, Inc. (NASDAQ:MU) shares shot up 2.6% on Tuesday. The company traded as high as $871.49 and last traded at $855.10. 20,420,104 shares traded hands during mid-day trading, a decline of 49% from the average daily volume of 40,217,488 shares. The stock had previously closed at $833.59.

Micron Technology News Roundup

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

• Positive Sentiment: Memory stocks recovered some of Monday’s losses as investors rotated back into semiconductor shares; falling crude prices also supported risk appetite. Why are Micron, SK Hynix, and SanDisk stocks rising on Tuesday?
• Positive Sentiment: Longer-term AI demand remains a key support: reports highlight memory’s growing importance to AI performance, multiyear customer agreements, and expectations that demand could outpace supply for years. Micron Said “Super Intelligence” Creates the Most Compelling Opportunity in Its History SK hynix Says Memory Demand Beats Supply Through 2030
• Positive Sentiment: Micron may ramp up share repurchases from Dec. 9, when federal Chips Act restrictions expire. The planned buyback authorization is cited as potential support for the stock, alongside analyst optimism and a low earnings-based valuation. Micron Expected to Launch Massive Stock Buybacks in December
• Negative Sentiment: Recent caution from memory maker Kioxia pressured the sector Monday, raising concerns about the outlook for memory demand and weighing on Micron and peers. Tuesday’s rebound may therefore be vulnerable if industry forecasts remain cautious. Kioxia’s Cautious Outlook Hits Memory Stocks
• Negative Sentiment: Some commentary warns that Micron’s earnings and share performance could be exposed if the current memory shortage fades; the stock also remains well below its 52-week high, underscoring recent volatility. Micron Technology: Is This a Sign That Its Stock Has Already Peaked?

Analysts Set New Price Targets

A number of analysts recently weighed in on MU shares. CLSA restated an “outperform” rating and issued a $1,700.00 price target on shares of Micron Technology in a research note on Friday, October 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Micron Technology in a research report on Thursday, October 1st. The Goldman Sachs Group set a $1,250.00 target price on Micron Technology in a report on Thursday, October 1st. Susquehanna restated a “positive” rating on shares of Micron Technology in a research report on Thursday, October 1st. Finally, Wedbush reaffirmed an “outperform” rating and set a $1,400.00 price target on shares of Micron Technology in a research note on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, forty-one have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $1,407.88.

Micron Technology Stock Up 2.6%

The firm has a market cap of $967.48 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 0.17 and a beta of 2.22. 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 has a 50 day moving average price of $976.02 and a 200-day moving average price of $747.00.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings data on Wednesday, September 30th. The semiconductor manufacturer reported $33.42 EPS for the quarter, beating analysts’ consensus estimates of $31.77 by $1.65. Micron Technology had a net margin of 63.80% and a return on equity of 92.62%. The firm had revenue of $54.23 billion for the quarter, compared to analysts’ expectations of $51.33 billion. During the same period in the prior year, the company earned $3.03 EPS. The firm’s revenue was up 379.1% on a year-over-year basis. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, equities analysts forecast that Micron Technology, Inc. will post 177.03 EPS for the current year.

Micron Technology Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Wednesday, October 14th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date of this dividend was Wednesday, October 14th. Micron Technology’s dividend payout ratio (DPR) is 0.81%.

Insider Buying and Selling

In related news, insider Scott Deboer sold 28,545 shares of the company’s stock in a transaction that occurred on Friday, October 16th. The stock was sold at an average price of $900.00, for a total value of $25,690,500.00. Following the sale, the insider owned 147,430 shares of the company’s stock, valued at approximately $132,687,000. This represents a 16.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $968.90, for a total value of $38,756,000.00. Following the sale, the chief executive officer owned 264,503 shares in the company, valued at approximately $256,276,956.70. This trade represents a 13.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 83,545 shares of company stock worth $78,460,850 in the last ninety days. Insiders own 0.24% of the company’s stock.

Institutional Trading of Micron Technology

A number of large investors have recently made changes to their positions in MU. M.E. Allison & CO. Inc. raised its stake in shares of Micron Technology by 0.8% during the second quarter. M.E. Allison & CO. Inc. now owns 1,324 shares of the semiconductor manufacturer’s stock valued at $1,528,000 after acquiring an additional 11 shares during the last quarter. Purus Wealth Management LLC grew its stake in shares of Micron Technology by 1.4% in the third quarter. Purus Wealth Management LLC now owns 814 shares of the semiconductor manufacturer’s stock worth $867,000 after purchasing an additional 11 shares during the last quarter. Ables Iannone Moore & Associates Inc. increased its holdings in Micron Technology by 5.3% during the 3rd quarter. Ables Iannone Moore & Associates Inc. now owns 237 shares of the semiconductor manufacturer’s stock valued at $252,000 after purchasing an additional 12 shares during the period. Koesten Hirschmann & Crabtree INC. increased its holdings in Micron Technology by 5.6% during the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 228 shares of the semiconductor manufacturer’s stock valued at $243,000 after purchasing an additional 12 shares during the period. Finally, Physician Wealth Advisors Inc. increased its holdings in Micron Technology by 1.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 762 shares of the semiconductor manufacturer’s stock valued at $812,000 after purchasing an additional 12 shares during the period. 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.