Micron Technology (NASDAQ:MU) Shares Down 1.1% – Here’s What Happened

Shares of Micron Technology, Inc. (NASDAQ:MU) were down 1.1% on Tuesday. The company traded as low as $699.63 and last traded at $725.11. 27,499,061 shares were traded during mid-day trading, a decline of 32% from the average session volume of 40,301,012 shares. The stock had previously closed at $733.15.

Latest Micron Technology News

These are some of the MU news items that stood out recently:

• Positive Sentiment: CoreWeave raised its outlook and described demand for AI computing as exceptionally strong, easing concerns that infrastructure spending is slowing. Because data-center operators use Micron’s memory products, the news supports expectations for continued demand. Micron Stock Jumps as CoreWeave Outlook Eases AI Spending Fears
• Negative Sentiment: News that Nvidia CEO Jensen Huang resigned—or may be leaving, according to reports—has unsettled the AI semiconductor sector. Investors may worry that disruption at Nvidia could affect AI-chip sales and, in turn, demand for Micron memory. Why Micron Stock Dropped on Thursday
• Negative Sentiment: After a strong one-day rebound, Micron gave back some gains as investors reassessed AI-sector risks and took profits. The move reflects continued volatility after a steep recent selloff. Micron Shares Fall as Nvidia Exit Tests Memory Rally

Wall Street Analysts Forecast Growth

MU has been the subject of a number of research reports. Seaport Research Partners reaffirmed a “buy” rating on shares of Micron Technology in a report on Friday, August 14th. ThinkEquity reiterated a “buy” rating on shares of Micron Technology in a report on Monday, August 3rd. Wedbush reissued an “outperform” rating and set a $1,400.00 price target on shares of Micron Technology in a research report on Monday, September 28th. Sanford C. Bernstein restated an “outperform” rating on shares of Micron Technology in a research note on Thursday, October 1st. Finally, Mizuho upped their price objective on shares of Micron Technology from $1,300.00 to $1,400.00 and gave the company an “outperform” rating in a report on Thursday, October 1st. One research analyst has rated the stock with a Strong Buy rating, forty-one have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $1,407.88.

Micron Technology Stock Down 1.6%

The business has a 50 day simple moving average of $950.48 and a 200-day simple moving average of $760.41. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.94 and a current ratio of 3.31. The firm has a market capitalization of $903.37 billion, a price-to-earnings ratio of 10.76, a P/E/G ratio of 0.13 and a beta of 2.36.

Micron Technology (NASDAQ:MU) last released 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. The firm had revenue of $54.23 billion for 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%. The firm’s quarterly revenue was up 379.1% on a year-over-year basis. During the same period in the prior year, the firm posted $3.03 earnings per share. Micron Technology has set its Q1 2027 guidance at 37.150-39.150 EPS. On average, equities analysts expect that Micron Technology, Inc. will post 175.22 EPS for the current year.

Micron Technology Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 29th. Shareholders of record on Wednesday, October 14th were given 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 was Wednesday, October 14th. Micron Technology’s payout ratio is 0.81%.

Insider Transactions at Micron Technology

In other news, insider Scott J. Deboer sold 28,545 shares of the business’s stock in a transaction on Friday, October 16th. The shares were sold at an average price of $900.00, for a total transaction of $25,690,500.00. Following the transaction, the insider directly owned 147,430 shares in the company, valued at $132,687,000. The trade was a 16.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Sumit Sadana sold 15,000 shares of Micron Technology stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $934.29, for a total transaction of $14,014,350.00. Following the completion of the sale, the executive vice president owned 191,021 shares of the company’s stock, valued at $178,469,010.09. This trade represents a 7.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 83,545 shares of company stock valued at $78,460,850. Company insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. M.E. Allison & CO. Inc. lifted its stake in 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 worth $1,528,000 after purchasing an additional 11 shares during the period. Purus Wealth Management LLC boosted its stake in Micron Technology by 1.4% in the third quarter. Purus Wealth Management LLC now owns 814 shares of the semiconductor manufacturer’s stock valued at $867,000 after acquiring an additional 11 shares during the last quarter. Ables Iannone Moore & Associates Inc. grew its stake in shares of Micron Technology by 5.3% during the third quarter. Ables Iannone Moore & Associates Inc. now owns 237 shares of the semiconductor manufacturer’s stock worth $252,000 after purchasing an additional 12 shares during the period. Koesten Hirschmann & Crabtree INC. increased its stake in shares of Micron Technology by 5.6% in the 3rd quarter. Koesten Hirschmann & Crabtree INC. now owns 228 shares of the semiconductor manufacturer’s stock valued at $243,000 after acquiring an additional 12 shares during the last quarter. Finally, Physician Wealth Advisors Inc. increased its stake in Micron Technology by 1.6% in the third 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 in the last quarter. Institutional investors and hedge funds own 80.84% of the company’s stock.

Micron Technology Company Profile

Micron Technology is a semiconductor company that designs and manufactures memory and storage products. Its portfolio includes dynamic random-access memory (DRAM), NAND flash memory, NOR flash memory, solid-state drives, and other memory solutions used in computing and electronic devices. Micron’s products serve a range of markets, including data centers, personal computers, smartphones, automotive systems, and industrial applications. The company sells its products and solutions to customers around the world.