KeyCorp Forecasts Strong Price Appreciation for Micron Technology (NASDAQ:MU) Stock

Micron Technology (NASDAQ:MU) had its price target increased by stock analysts at KeyCorp from $215.00 to $325.00 in a report released on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the semiconductor manufacturer’s stock. KeyCorp’s price objective points to a potential upside of 44.11% from the stock’s current price.

A number of other equities research analysts also recently commented on the company. Raymond James Financial raised their target price on Micron Technology from $190.00 to $310.00 and gave the company an “outperform” rating in a report on Thursday. Wolfe Research raised their price objective on shares of Micron Technology from $200.00 to $300.00 and gave the company an “outperform” rating in a research note on Tuesday, December 2nd. The Goldman Sachs Group set a $235.00 target price on shares of Micron Technology in a research report on Thursday. Piper Sandler lifted their price target on shares of Micron Technology from $200.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, KGI Securities raised Micron Technology from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, September 24th. Five equities research analysts have rated the stock with a Strong Buy rating, thirty have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $266.71.

Micron Technology Price Performance

Shares of NASDAQ:MU opened at $225.52 on Thursday. Micron Technology has a 52 week low of $61.54 and a 52 week high of $264.75. The company has a 50-day moving average price of $225.54 and a 200 day moving average price of $162.83. The company has a market cap of $253.51 billion, a P/E ratio of 29.71, a PEG ratio of 0.34 and a beta of 1.54. The company has a quick ratio of 1.79, a current ratio of 2.52 and a debt-to-equity ratio of 0.26.

Micron Technology (NASDAQ:MU) last posted its quarterly earnings results on Wednesday, December 17th. The semiconductor manufacturer reported $4.78 EPS for the quarter, beating the consensus estimate of $3.77 by $1.01. Micron Technology had a return on equity of 17.21% and a net margin of 22.84%.The business had revenue of $13.64 billion during the quarter, compared to analysts’ expectations of $12.62 billion. During the same period last year, the firm earned $1.79 EPS. The company’s quarterly revenue was up 56.7% compared to the same quarter last year. Micron Technology has set its Q2 2026 guidance at 8.220-8.620 EPS. Research analysts predict that Micron Technology will post 6.08 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Mark J. Murphy sold 126,000 shares of the company’s stock in a transaction on Thursday, October 30th. The stock was sold at an average price of $225.31, for a total value of $28,389,060.00. Following the sale, the chief financial officer directly owned 219,693 shares in the company, valued at $49,499,029.83. This represents a 36.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sanjay Mehrotra sold 3,743 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $233.39, for a total value of $873,578.77. Following the sale, the chief executive officer directly owned 396,578 shares in the company, valued at approximately $92,557,339.42. The trade was a 0.93% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 383,650 shares of company stock worth $81,602,339 in the last quarter. Corporate insiders own 0.24% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. REAP Financial Group LLC acquired a new position in shares of Micron Technology in the third quarter valued at approximately $25,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in Micron Technology during the third quarter worth approximately $27,000. Cullen Frost Bankers Inc. grew its stake in Micron Technology by 79.3% in the 3rd quarter. Cullen Frost Bankers Inc. now owns 199 shares of the semiconductor manufacturer’s stock worth $33,000 after acquiring an additional 88 shares during the period. First Command Advisory Services Inc. raised its holdings in Micron Technology by 225.0% in the 2nd quarter. First Command Advisory Services Inc. now owns 221 shares of the semiconductor manufacturer’s stock valued at $27,000 after acquiring an additional 153 shares during the last quarter. Finally, Osterweis Capital Management Inc. raised its holdings in Micron Technology by 205.5% in the 3rd quarter. Osterweis Capital Management Inc. now owns 223 shares of the semiconductor manufacturer’s stock valued at $37,000 after acquiring an additional 150 shares during the last quarter. 80.84% of the stock is currently owned by hedge funds and other institutional investors.

About Micron Technology

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.