Micron Technology (NASDAQ:MU) Stock Price Up 5.1% on Analyst Upgrade

Micron Technology, Inc. (NASDAQ:MU)’s stock price shot up 5.1% during mid-day trading on Friday after Susquehanna raised their price target on the stock from $600.00 to $1,750.00. Susquehanna currently has a positive rating on the stock. Micron Technology traded as high as $981.00 and last traded at $970.4680. 58,816,986 shares were traded during mid-day trading, an increase of 35% from the average session volume of 43,442,621 shares. The stock had previously closed at $923.52.

MU has been the topic of a number of other reports. Citigroup upped their price target on shares of Micron Technology from $425.00 to $840.00 and gave the stock a “buy” rating in a research note on Tuesday, May 19th. DA Davidson began coverage on shares of Micron Technology in a report on Monday, May 11th. They set a “buy” rating and a $1,000.00 price objective on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Micron Technology in a research report on Tuesday, May 12th. Melius Research assumed coverage on shares of Micron Technology in a report on Monday, April 27th. They issued a “buy” rating and a $700.00 target price for the company. Finally, Bank of America lifted their price target on shares of Micron Technology from $400.00 to $500.00 and gave the company a “buy” rating in a research report on Thursday, March 19th. Five research analysts have rated the stock with a Strong Buy rating, thirty have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $595.63.

Insider Buying and Selling at Micron Technology

In related news, Director Steven J. Gomo sold 2,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $787.03, for a total value of $1,574,060.00. Following the sale, the director directly owned 17,139 shares of the company’s stock, valued at approximately $13,488,907.17. This represents a 10.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sanjay Mehrotra sold 40,000 shares of the firm’s stock in a transaction dated Friday, May 1st. The shares were sold at an average price of $536.26, for a total transaction of $21,450,400.00. Following the transaction, the chief executive officer owned 424,503 shares of the company’s stock, valued at $227,643,978.78. This trade represents a 8.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 106,000 shares of company stock valued at $47,032,460 over the last 90 days. 0.24% of the stock is currently owned by corporate insiders.

Key Micron Technology News

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

• Positive Sentiment: Susquehanna резко raised its price target on Micron to $1,750 from $600 and kept a positive stance, reinforcing the view that AI memory demand can support substantially more upside. Micron price target hike
• Positive Sentiment: UBS also boosted its target to $1,625 from $535, while other analysts pointed to record margins and strong pricing in DRAM, NAND, and HBM as proof that the AI memory boom is still gaining momentum. Analyst optimism on Micron
• Positive Sentiment: Several articles highlighted Micron’s recent financial strength, including revenue growth of 56.6% year over year and a cloud memory business that nearly doubled, which supports the thesis that the company is becoming an essential AI infrastructure supplier. Micron five-year outlook
• Positive Sentiment: Hedge-fund filings and media coverage showed prominent investors and commentators adding to or praising Micron positions, including David Tepper, Ray Dalio, and Jim Cramer’s “trillion-dollar club” comments, which adds to bullish sentiment. Hedge fund buying
• Neutral Sentiment: Micron is also drawing attention to a possible stock split after its huge run and $1 trillion-plus valuation, but that would mainly affect trading psychology rather than fundamentals. Stock split speculation
• Negative Sentiment: Some coverage warned that Micron now faces tougher competition from Samsung and SK Hynix, and one Seeking Alpha piece argued the stock could be vulnerable to a “trillion-dollar trap” if HBM4E cannibalization or a depreciation cliff hits results later. Bearish Micron article

Institutional Investors Weigh In On Micron Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Cozad Asset Management Inc. boosted its stake in shares of Micron Technology by 1,285.7% during the first quarter. Cozad Asset Management Inc. now owns 41,600 shares of the semiconductor manufacturer’s stock valued at $14,054,000 after acquiring an additional 38,598 shares during the last quarter. Blue Fin Capital Inc. increased its position in Micron Technology by 2.1% during the 1st quarter. Blue Fin Capital Inc. now owns 3,576 shares of the semiconductor manufacturer’s stock worth $1,208,000 after purchasing an additional 72 shares in the last quarter. Challenger Wealth Management raised its stake in Micron Technology by 5.9% in the 1st quarter. Challenger Wealth Management now owns 759 shares of the semiconductor manufacturer’s stock valued at $256,000 after purchasing an additional 42 shares during the last quarter. Allen Capital Group LLC raised its stake in Micron Technology by 8.5% in the 1st quarter. Allen Capital Group LLC now owns 4,504 shares of the semiconductor manufacturer’s stock valued at $1,522,000 after purchasing an additional 351 shares during the last quarter. Finally, Axiom Investment Management LLC purchased a new position in Micron Technology in the 1st quarter valued at about $2,387,000. Hedge funds and other institutional investors own 80.84% of the company’s stock.

Micron Technology Stock Performance

The company has a market capitalization of $1.09 trillion, a PE ratio of 45.82 and a beta of 1.91. The stock’s fifty day simple moving average is $547.31 and its 200-day simple moving average is $407.37. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.32 and a current ratio of 2.90.

Micron Technology (NASDAQ:MU) last issued its quarterly earnings results on Wednesday, March 18th. The semiconductor manufacturer reported $12.20 EPS for the quarter, topping analysts’ consensus estimates of $9.19 by $3.01. The business had revenue of $23.86 billion during the quarter, compared to the consensus estimate of $19.97 billion. Micron Technology had a net margin of 41.49% and a return on equity of 41.16%. The company’s quarterly revenue was up 196 compared to the same quarter last year. During the same period in the previous year, the firm posted $1.56 earnings per share. As a group, equities analysts predict that Micron Technology, Inc. will post 57.82 earnings per share for the current year.

Micron Technology Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid 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 an increase from Micron Technology’s previous quarterly dividend of $0.12. Micron Technology’s dividend payout ratio is presently 2.83%.

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.