Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shares were up 4.8% during trading on Wednesday . The stock traded as high as $814.95 and last traded at $803.63. Approximately 53,835,862 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 42,086,742 shares. The stock had previously closed at $766.58.
Trending Headlines about Micron Technology
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Analysts raised Micron’s earnings estimates, reinforcing expectations that AI-driven memory demand will keep boosting profits. Micron Technology stock report
- Positive Sentiment: Multiple articles highlight tight memory supply and surging demand for HBM, DRAM and SSDs, which supports Micron’s pricing power. Zacks Investment Ideas feature highlights: Micron, Sandisk and Nvidia
- Positive Sentiment: Micron continues to be viewed as a major beneficiary of the AI infrastructure buildout, with analysts and commentators floating much higher valuation targets. Here’s Why Micron Can Reach a $1 Trillion Market Cap This Year
- Neutral Sentiment: Some commentary says Micron’s recent surge has made the stock vulnerable to volatility and profit-taking after the sharp advance. Micron Investors Face a High-Stakes Moment After the Latest Rally
- Negative Sentiment: Renewed uncertainty around U.S.-China chip policy is pressuring semiconductor stocks and dragging Micron lower in the near term. Why Micron Stock Just Dropped
- Negative Sentiment: A director sold shares this week, which may add a small overhang even though the transaction looks routine. Steven J. Gomo insider sale
Wall Street Analyst Weigh In
Several analysts have recently commented on MU shares. Cantor Fitzgerald raised their target price on Micron Technology from $450.00 to $700.00 and gave the company an “overweight” rating in a research note on Thursday, March 19th. Summit Insights downgraded Micron Technology from a “buy” rating to a “hold” rating in a research note on Thursday, March 19th. Phillip Securities upgraded Micron Technology to a “strong-buy” rating in a research note on Monday, February 2nd. Morgan Stanley raised their target price on Micron Technology from $350.00 to $450.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Finally, JPMorgan Chase & Co. raised their price target on shares of Micron Technology from $350.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, March 19th. Five investment analysts have rated the stock with a Strong Buy rating, thirty have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Micron Technology currently has a consensus rating of “Buy” and a consensus target price of $495.63.
Micron Technology Stock Performance
The firm has a market cap of $817.22 billion, a P/E ratio of 34.21 and a beta of 1.91. 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 company’s 50-day moving average is $472.61 and its two-hundred day moving average is $368.17.
Micron Technology Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Monday, March 30th were given 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%.
Insider Buying and Selling at Micron Technology
In related news, EVP April S. Arnzen sold 40,000 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total value of $13,895,600.00. Following the transaction, the executive vice president owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This trade represents a 24.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Sanjay Mehrotra sold 40,000 shares of Micron Technology stock in a transaction that occurred on Friday, May 1st. The stock was sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer directly owned 424,503 shares in the company, valued at approximately $227,643,978.78. This represents a 8.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 106,000 shares of company stock worth $47,032,460 in the last quarter. 0.24% of the stock is owned by insiders.
Hedge Funds Weigh In On Micron Technology
Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Micron Technology by 1.9% during the 4th quarter. Vanguard Group Inc. now owns 106,608,094 shares of the semiconductor manufacturer’s stock worth $30,427,016,000 after buying an additional 1,954,644 shares in the last quarter. State Street Corp lifted its position in shares of Micron Technology by 2.1% during the 4th quarter. State Street Corp now owns 52,749,817 shares of the semiconductor manufacturer’s stock worth $15,061,310,000 after buying an additional 1,090,644 shares in the last quarter. Capital International Investors lifted its position in shares of Micron Technology by 0.7% during the 3rd quarter. Capital International Investors now owns 23,372,821 shares of the semiconductor manufacturer’s stock worth $3,910,198,000 after buying an additional 155,860 shares in the last quarter. Norges Bank bought a new position in shares of Micron Technology during the 4th quarter worth approximately $6,433,456,000. Finally, Morgan Stanley lifted its position in shares of Micron Technology by 5.1% during the 4th quarter. Morgan Stanley now owns 16,396,655 shares of the semiconductor manufacturer’s stock worth $4,679,771,000 after buying an additional 794,289 shares in the last quarter. Institutional investors own 80.84% of the company’s stock.
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.
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