Micron Technology, Inc. (NASDAQ:MU – Get Free Report) shot up 15.4% on Friday . The company traded as high as $747.21 and last traded at $746.3290. 63,458,105 shares were traded during mid-day trading, an increase of 54% from the average session volume of 41,288,090 shares. The stock had previously closed at $646.63.
Micron Technology News Roundup
Here are the key news stories impacting Micron Technology this week:
- Positive Sentiment: Micron hit a fresh 52-week high as investors continued to bet on booming demand for HBM and other AI-related memory products. Micron Stock (MU) Jumps 14% to a New 52-Week High – Is It Too Late to Buy?
- Positive Sentiment: Analysts and market commentary continue to describe Micron as a key beneficiary of the “AI memory supercycle,” with strong earnings growth, high margins, and ongoing supply shortages supporting the stock. Micron (MU) is an Incredible Growth Stock: 3 Reasons Why
- Positive Sentiment: Micron’s rally is being reinforced by bullish analyst sentiment, including higher earnings estimates and price-target-related optimism that suggests the stock still has room to run. Memory Stocks Continue to Surge. What’s Driving Micron and Sandisk Higher.
- Positive Sentiment: The company’s launch of a 245TB SSD and continuing momentum in AI infrastructure demand are being cited as additional catalysts for revenue growth and diversification beyond HBM. Micron Technology (MU) Is Up 28.6% After Launching 245TB SSD Amid AI-Driven Memory Tightness
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on MU. Mizuho upped their target price on shares of Micron Technology from $480.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, March 19th. Bank of America increased their price objective on shares of Micron Technology from $400.00 to $500.00 and gave the stock a “buy” rating in a research note on Thursday, March 19th. William Blair initiated coverage on shares of Micron Technology in a research note on Thursday, January 22nd. They set an “outperform” rating for the company. Royal Bank Of Canada increased their price objective on shares of Micron Technology from $425.00 to $525.00 and gave the stock an “outperform” rating in a research note on Monday, March 16th. Finally, KeyCorp increased their price objective on shares of Micron Technology from $450.00 to $600.00 and gave the stock an “overweight” rating in a research note 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 assigned a Hold rating to the company. According to MarketBeat, Micron Technology currently has a consensus rating of “Buy” and a consensus target price of $478.24.
Micron Technology Trading Up 15.4%
The stock has a market cap of $841.66 billion, a price-to-earnings ratio of 35.24 and a beta of 1.91. The company has a quick ratio of 2.32, a current ratio of 2.90 and a debt-to-equity ratio of 0.13. The business’s 50 day simple moving average is $435.84 and its 200 day simple moving average is $348.07.
Micron Technology Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Monday, March 30th were paid a $0.15 dividend. This is an increase from Micron Technology’s previous quarterly dividend of $0.12. This represents a $0.60 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date was Monday, March 30th. Micron Technology’s dividend payout ratio is 2.83%.
Insider Buying and Selling at Micron Technology
In other Micron Technology news, EVP Sumit Sadana sold 24,000 shares of the stock in a transaction on Friday, April 10th. The shares were sold at an average price of $421.35, for a total value of $10,112,400.00. Following the completion of the sale, the executive vice president owned 224,021 shares in the company, valued at $94,391,248.35. This trade represents a 9.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP April S. Arnzen sold 40,000 shares of the stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $347.39, for a total transaction of $13,895,600.00. Following the completion of the sale, the executive vice president owned 125,737 shares of the company’s stock, valued at approximately $43,679,776.43. This represents a 24.13% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 104,000 shares of company stock worth $45,458,400 over the last quarter. 0.24% of the stock is currently owned by insiders.
Institutional Trading of Micron Technology
A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake 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 during the last quarter. State Street Corp lifted its stake 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 during the last quarter. Capital International Investors lifted its stake 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 during the last quarter. Norges Bank acquired a new stake in shares of Micron Technology during the 4th quarter worth about $6,433,456,000. Finally, Morgan Stanley lifted its stake 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 during the last quarter. Institutional investors and hedge funds 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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