Research Analysts’ Recent Ratings Updates for Micron Technology (MU)

Several brokerages have updated their recommendations and price targets on shares of Micron Technology (NASDAQ: MU) in the last few weeks:

• 4/12/2024 – Micron Technology had its “buy” rating reaffirmed by analysts at Stifel Nicolaus. They now have a $140.00 price target on the stock.
• 4/8/2024 – Micron Technology had its price target raised by analysts at Cantor Fitzgerald from $135.00 to $150.00. They now have an “overweight” rating on the stock.
• 4/8/2024 – Micron Technology had its price target raised by analysts at KeyCorp from $135.00 to $150.00. They now have an “overweight” rating on the stock.
• 4/4/2024 – Micron Technology had its “buy” rating reaffirmed by analysts at Citigroup Inc.. They now have a $150.00 price target on the stock.
• 4/1/2024 – Micron Technology had its price target raised by analysts at Bank of America Co. from $120.00 to $144.00. They now have a “buy” rating on the stock.
• 3/22/2024 – Micron Technology was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating.
• 3/21/2024 – Micron Technology had its price target raised by analysts at Morgan Stanley from $78.00 to $98.00. They now have an “underweight” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at Piper Sandler from $95.00 to $130.00. They now have an “overweight” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at Wells Fargo & Company from $125.00 to $135.00. They now have an “overweight” rating on the stock.
• 3/21/2024 – Micron Technology was upgraded by analysts at Fox Advisors from an “equal weight” rating to an “overweight” rating.
• 3/21/2024 – Micron Technology had its price target raised by analysts at JPMorgan Chase & Co. from $105.00 to $130.00. They now have an “overweight” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at KeyCorp from $115.00 to $135.00. They now have an “overweight” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at Wedbush from $103.00 to $130.00. They now have an “outperform” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at TD Cowen from $120.00 to $150.00. They now have an “outperform” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at Bank of America Co. from $100.00 to $120.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at Mizuho from $105.00 to $124.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at Stifel Nicolaus from $120.00 to $140.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Micron Technology had its price target raised by analysts at Needham & Company LLC from $100.00 to $120.00. They now have a “buy” rating on the stock.
• 3/21/2024 – Micron Technology was upgraded by analysts at Argus from a “hold” rating to a “buy” rating. They now have a $140.00 price target on the stock.
• 3/19/2024 – Micron Technology had its price target raised by analysts at Robert W. Baird from $78.00 to $115.00. They now have a “neutral” rating on the stock.
• 3/19/2024 – Micron Technology had its price target raised by analysts at UBS Group AG from $95.00 to $120.00. They now have a “buy” rating on the stock.
• 3/18/2024 – Micron Technology had its price target raised by analysts at Barclays PLC from $95.00 to $120.00. They now have an “overweight” rating on the stock.
• 3/18/2024 – Micron Technology had its price target raised by analysts at Cantor Fitzgerald from $100.00 to $120.00. They now have an “overweight” rating on the stock.
• 3/18/2024 – Micron Technology had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $140.00 price target on the stock.
• 3/15/2024 – Micron Technology had its price target raised by analysts at TD Cowen from $100.00 to $120.00. They now have an “outperform” rating on the stock.
• 3/15/2024 – Micron Technology had its price target raised by analysts at Citigroup Inc. from $95.00 to $150.00. They now have a “buy” rating on the stock.
• 3/12/2024 – Micron Technology had its “outperform” rating reaffirmed by analysts at Wedbush. They now have a $103.00 price target on the stock, up previously from $95.00.
• 3/7/2024 – Micron Technology was upgraded by analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating. They now have a $120.00 price target on the stock, up previously from $80.00.
• 3/1/2024 – Micron Technology had its price target raised by analysts at Mizuho from $100.00 to $105.00. They now have a “buy” rating on the stock.

Micron Technology Stock Performance

MU traded down $1.17 during trading on Wednesday, hitting $111.29. 12,604,990 shares of the stock were exchanged, compared to its average volume of 20,483,598. The company has a quick ratio of 2.40, a current ratio of 3.74 and a debt-to-equity ratio of 0.30. Micron Technology, Inc. has a 1-year low of $58.03 and a 1-year high of $130.54. The stock has a fifty day moving average price of $104.04 and a two-hundred day moving average price of $87.52. The firm has a market capitalization of $123.24 billion, a P/E ratio of -32.26 and a beta of 1.27.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, March 20th. The semiconductor manufacturer reported $0.42 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.69. The firm had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.35 billion. Micron Technology had a negative net margin of 20.57% and a negative return on equity of 8.98%. The firm’s revenue for the quarter was up 57.7% on a year-over-year basis. During the same period in the prior year, the company posted ($2.03) earnings per share. As a group, sell-side analysts predict that Micron Technology, Inc. will post 0.24 earnings per share for the current year.

Micron Technology Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, April 1st were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date was Thursday, March 28th. Micron Technology’s dividend payout ratio is currently -13.33%.

Insider Buying and Selling

In related news, CEO Sanjay Mehrotra sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total transaction of $563,080.00. Following the sale, the chief executive officer now directly owns 788,557 shares in the company, valued at approximately $63,431,525.08. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Micron Technology news, EVP April S. Arnzen sold 4,890 shares of the business’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $119.30, for a total transaction of $583,377.00. Following the completion of the transaction, the executive vice president now directly owns 148,817 shares of the company’s stock, valued at approximately $17,753,868.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sanjay Mehrotra sold 7,000 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $80.44, for a total value of $563,080.00. Following the completion of the transaction, the chief executive officer now directly owns 788,557 shares of the company’s stock, valued at approximately $63,431,525.08. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 306,890 shares of company stock valued at $33,005,157. 0.32% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Tidemark LLC acquired a new position in shares of Micron Technology during the 4th quarter worth $25,000. Pingora Partners LLC bought a new stake in shares of Micron Technology in the fourth quarter valued at about $26,000. OFI Invest Asset Management acquired a new stake in shares of Micron Technology during the 3rd quarter worth approximately $27,000. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Micron Technology during the third quarter worth $28,000. Finally, Frank Rimerman Advisors LLC acquired a new stake in shares of Micron Technology during the 4th quarter valued at about $29,000. 80.84% of the stock is currently owned by institutional investors and hedge funds.

Micron Technology, Inc designs, develops, manufactures, and sells memory and storage products worldwide. The company operates through four segments: Compute and Networking Business Unit, Mobile Business Unit, Embedded Business Unit, and Storage Business Unit. It provides memory and storage technologies comprising dynamic random access memory semiconductor devices with low latency that provide high-speed data retrieval; non-volatile and re-writeable semiconductor storage devices; and non-volatile re-writable semiconductor memory devices that provide fast read speeds under the Micron and Crucial brands, as well as through private labels.